President Bola Ahmed Tinubu has established two key bodies: the Presidential Economic Coordination Council (PECC) and the Economic Management Team Emergency Taskforce (EET).

This was disclosed in a statement by presidential spokesman, Ajuri Ngelale.

The PECC, chaired by President Tinubu himself, comprises eminent leaders and top government officials, including the Vice President, the Nigerian Senate President, and the chairman of the Nigeria Governors’ Forum.

Key ministers in charge of finance, agriculture, power, industry, and other strategic sectors are also council members.

Additionally, prominent figures from the private sector, such as Aliko Dangote and Tony Elumelu, have been invited to serve for one year, subject to the President’s directive.

The PECC’s mandate is to coordinate economic planning and implementation at the highest level, ensuring synergy among various government agencies and stakeholders.

It will play a pivotal role in formulating and executing policies to drive economic growth and development in Nigeria.

In tandem with establishing the PECC, President Tinubu has set up the EET, tasked with developing and implementing a consolidated emergency economic plan.

Comprising government officials and industry leaders, the task force is mandated to submit a comprehensive plan of economic interventions for 2024 to the PECC, covering the next six months, for immediate implementation.

The EET will convene twice weekly to deliberate on strategies to revitalise the economy.

Furthermore, the Economic Management Team (EMT), established in October 2023 and chaired by the Coordinating Minister for the Economy and Minister of Finance, will work closely with the PECC and EET.

The EMT, which traditionally meets monthly, will suspend its meetings for the duration of the EET’s mandate to ensure streamlined coordination.