In a strategic move to bolster the nation’s economic governance frameworks and ensure robust and coordinated economic planning and implementation, President Bola Ahmed Tinubu has approved the establishment of the Presidential Economic Coordination Council (PECC) and the creation of the Economic Management Team Emergency Taskforce (EET)The Presidential Economic Coordination Council (PECC) comprises distinguished leaders and key government officials, including:
(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
(7) Minister of Agriculture and Food Security
(8) Minister of Aviation and Aerospace Development(9) Chairman, Nigeria Governors’ Forum
(10) Governor of Anambra State
(11)Governor of Ogun State
(12)Governor of Niger State
(13)Executive Chairman, Federal Inland Revenue Service
(14)Director-General, Budget Office of the Federation
(15)GCEO, NNPC Limited
(16) Director-General, Nigeria Economic Summit Group
(17)Special Adviser to the President on Energy
(18)Dr. Bismarck Rewane, Economist
(19)Dr. Suleyman Ndanusa, Economist
The Economic Management Team, established in October 2023, and chaired by the Coordinating Minister for the Economy and Minister of Finance, serves as the working group under the Presidential Economic Coordination Council (PECC), playing a crucial role in the economic governance structure established by the President. The EMT traditionally meets monthly or as required, but will now suspend its meetings for the duration of the EET’s mandate (six months). The EMT is composed of the following officials:
(1) Coordinating Minister for the Economy and Minister of Finance (EMT Chairman)
(2) Governor of the Central Bank of Nigeria
(3) Minister of Budget and Economic Planning
(4) Minister of Industry, Trade and Investment
(5) Minister of Communications, Innovation and Digital Economy
(6) Minister of Works
(7) Minister of Labour and Employment
(8) Minister of Agriculture and Food Security
(9) Minister of State, Petroleum Resources
(10) Minister of State, Gas
(11)Minister of Power
(12)Minister of Transportation
(13)Minister of Aviation and Aerospace Development
(14)Minister of Marine and Blue Economy
The Chairman of the EMT may, as needed, call on any Federal Minister or Head of Agency to brief the EMT on key programmes and developments affecting the economy.
The President’s formation of the PECC, under his Chairmanship, alongside the creation of the EET, led by the Chairman of the EMT, and the EMT itself, is the manifestation of a unified strategy aimed at enhancing Nigeria’s economic management architecture for verifiably improved performance. The formation of these teams 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.