Economy revival: Tinubu orders council to draft emergency economic plan
Following the urgent need to stabilise Nigeria’s economy, President Bola Ahmed Tinubu has formed a new economic team to aid in steering the nation to economic prosperity tasking them with the mandate of drafting and implementing an emergency economic plan.
In a press statement made available by Special Adviser to the President on Information and Strategy, Bayo Onanuga, the President established the Presidential Economic Coordination Council (PECC) and Economic Management Team Emergency Taskforce (EET).
Tony Elumelu and Mrs Funke Opeke are some of the business leaders nominated to join the economic team.
President Tinubu is to serve as the chairman of the team and the Vice President, Kashim Shettima will serve as the Vice Chairman.
Other members of the Presidential Economic Coordination Council (PECC) include Senator Godswill Akpabio, Governor AbdulRahman AbdulRazaq, Mr Wale Edun, Coordinating Minister for the Economy and Minister of Finance, Mr Olayemi Cardoso Governor of the Central Bank of Nigeria, Minister of Agriculture and Food Security, Minister of Aviation and Aerospace Development, Minister of Budget and Economic Planning, Minister of Communications, Innovation and Digital Economy, Minister of Industry, Trade and Investment, Minister of Labour and Employment, Minister of Marine and Blue Economy, Minister of Power, Minister of State, Petroleum Resources, Minister of State, Gas, Minister of Transportation, Minister of Works, Alhaji Aliko Dangote, Alhaji Abdulsamad Rabiu, Ms. Amina Maina, Mr. Begun Ajayi-Kadir, Dr. Doyin Salami, Mr. Patrick Okigbo, Mr. Kola Adesina, Mr. Segun Agbaje, Mr. Chidi Ajaere, Mr. Abdulkadir Aliu and Mr. Rasheed Sarumi.
The statement also revealed that the Economic Management Team Emergency Taskforce (EET) will address immediate economic challenges and ensure the streamlined execution of economic strategies.
“It has the mandate to formulate and implement a consolidated emergency economic plan.
“The taskforce comprises key government officials and industry leaders in furtherance of the President’s collaborative approach toward achieving economic resilience and growth. The EET is now mandated to submit a comprehensive plan of economic interventions for 2024 to the PECC, covering the next six (6) months, for immediate implementation within two weeks of its inauguration. The EET will meet twice weekly.
“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 of six months.
“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.”
