Tinubu Establishes Economic Coordination Council

In what has been described as a strategic move to strengthen the nation’s economic governance framework and ensure robust and coordinated economic planning and implementation, the Presidency has announced the establishment of the Presidential Economic Coordination Council (PECC) and the creation of the Economic Management Team Emergency Taskforce (EET).

The statement by the Special Adviser on Media and Publicity to the President, Ajuri Ngelale, outlined the membership of the PECC as:

(1) President of the Federal Republic of Nigeria – Chairman of the PECC

(2) Vice-President of the Federal Republic of Nigeria – Vice-Chairman of the PECC/NEC Chairman

(3) President of the Nigerian Senate

(4) Chairman, Nigeria Governors’ Forum

(5) Coordinating Minister for the Economy and Minister of Finance

(6) Governor of the Central Bank of Nigeria and 12 ministers.

Key members of the organised private sector will also be part of the council, joining for a period not exceeding one (1) year, subject to the President’s directive.

They include :

(1) Alhaji Aliko Dangote

(2) Mr. Tony Elumelu

(3) Alhaji Abdulsamad Rabiu

(4) Ms. Amina Maina, amongst others.

The formation of these teams, according to the statement, will complement existing economic governance structures, including the National Economic Council (NEC), which is chaired by the Vice-President.

Over the next six months, the EET will focus on the rapid implementation, monitoring, and evaluation of critical initiatives, strengthening the Tinubu-led administration’s collective approach to advancing Nigeria’s economic objectives.