Nigerian President forms teams to rescue economy: Reports

30 Mar '24

1 min read

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Insights

Bola Tinubu recently set up a 31-man Presidential Economic Coordination Council comprising himself, the vice president, senate president, and chairman of the Nigerian Governors Forum, among others.
He also established 19-member Economic Management Team Emergency Taskforce, mandated to meet twice weekly and submit a six-month comprehensive plan.

President Bola Tinubu recently announced the establishment of a 31-member Presidential Economic Coordination Council, which includes himself, the vice president, senate president, and the chairman of the Nigerian Governors Forum.

Alongside this council, Tinubu formed a 19-member Economic Management Team Emergency Taskforce. This taskforce is tasked with convening twice weekly and delivering a comprehensive six-month economic intervention plan for 2024.

Media reports underlined this adding the Federal Executive Council endorsed the Economic Management Team Emergency Taskforce.

The President directed that the six-month plan must be implemented within two weeks of the taskforce’s formation.

The Economic Management Team includes ministers, four governors, members of the economic management team, and private sector representatives.

This team is mandated to report to the Presidential Economic Coordination Council, which Tinubu heads.

The PECC comprises 13 ministers, the governor of the Central Bank of Nigeria, Yemi Cardoso, and governor Abdulrahman Abdulrazaq of Kwara State, who chairs the Nigeria Governors’ Forum, among others.

Tinubu’s initiative aims to address the economic challenges facing Nigeria promptly and comprehensively.

By establishing these bodies, he seeks to foster collaboration between government officials, economic experts, and private sector stakeholders to formulate and implement effective economic strategies.

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