From Garba Lawal
In a bid to fortify Nigeria's economic governance structures and ensure synchronized economic planning and execution, President Bola Ahmed Tinubu has greenlit the formation of two crucial bodies: the Presidential Economic Coordination Council (PECC) and the Economic Management Team Emergency Taskforce (EET).
The PECC, chaired by President Tinubu, features eminent leaders and top government officials, including the Vice-President, Senate President, and key ministers, among others. Additionally, prominent figures from the private sector will contribute their expertise to the council for a limited term.
Simultaneously, the EET, spearheaded by the Coordinating Minister for the Economy and Minister of Finance, is tasked with devising and implementing a consolidated emergency economic plan within a strict timeline of six months.
Comprising government officials and industry leaders, the taskforce will meet bi-weekly to strategize on pressing economic interventions.
The Economic Management Team, an integral part of the economic governance structure, will temporarily halt its meetings during the EET's tenure to ensure focused attention on immediate economic challenges.
President Tinubu's initiative underscores a concerted effort to strengthen Nigeria's economic management framework and propel the nation towards sustainable growth.
The establishment of these entities aligns with existing structures like the National Economic Council, further consolidating the administration's collective approach to economic advancement.
In the coming months, the EET will concentrate on expeditiously implementing and monitoring critical initiatives, underpinning the Tinubu-led administration's commitment to realizing Nigeria's economic aspirations.
