President Bola Tinubu announced the establishment of the Presidential Economic Coordination Council (PECC) on Wednesday. The council, consisting of 31 members including the Vice President, Senate President, and Chairman of the Nigerian Governors Forum, aims to revamp Nigeria’s economic governance framework.
The PECC will focus on robust and coordinated economic planning and implementation. It includes members from various sectors such as government officials and representatives from the private sector.
Additionally, Tinubu created the Economic Management Team Emergency Taskforce (EET) to address immediate economic challenges. This 19-member team, mandated to meet twice weekly, will formulate and implement an emergency economic plan for rapid execution within six months.
The Economic Management Team (EMT), established in October 2023, will serve as the working group under the PECC. Its activities will be temporarily suspended during the EET’s mandate.
These initiatives reflect Tinubu’s commitment to enhancing Nigeria’s economic management for improved performance and growth.
โThe formation of these teams will complement existing economic governance structures, including the National Economic Council, which is chaired by the Vice-President,โ the statement said.
