Edun heads 64-member task team to rescue Nigeria’s economy  

The Minister of Finance and the Coordinating Minister for the Economy, Wale Edun, has been named to head a 64-member high-level team charged with the mandate to develop a comprehensive economic blueprint to rescue the economy.

President Bola Tinubu announced the constitution of the new Presidential Economic Coordination Council (PECC) to be complemented by the newly established Economic Management Team Emergency Taskforce (EET) as part of efforts to reorganize nation’s economic governance structure to find solutions to the nation’s economic challenges.

The PECC, which has the President as its Chairman, has representations from key government agencies and leading private sector chieftains, to serve as a high-level body tasked with the responsibility of providing strategic economic guidance and direction to the efforts to resolve the nation’s intractable economic problems.

The Edun-Taskforce was mandated to develop a comprehensive economic rescue plan within the next two weeks.

Also, the team is expected to work intensively for the next six months, with a focus on rapid implementation and monitoring of critical economic initiatives to set the economy on the path of sustainable recovery.
Presidential spokesman, Ajuri Ngelale, said under the new arrangement, the existing Economic Management Team (EMT), established in October 2023, would be temporarily suspended for the duration of the EET’s mandate.

Ngelale described the new structure as a “unified strategy” by the Tinubu administration aimed at strengthening Nigeria’s economic management and achieving verifiable improvements.

Other members of the PECC, which would exist for one-year, include the Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) Limited, Mele Kyari; Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso; Chairman of Dangote Group, Aliko Dangote; Chairman of United Bank for Africa, Tony Elumelu; and Chairman of BUA Group, Abdulsamad Rabiu, as well as some state governors, including Anambra, Ogun, and Niger States.

See the Full List of Members of PECC (Government)

1. President of the Federal Republic of Nigeria – Chairman of the PECC
2. Vice-President of the Federal Republic of Nigeria – Vice-Chairman of the PECC / NEC Chairman
3. President of the Nigerian Senate
4. Chairman, Nigeria Governors’ Forum
5. Coordinating Minister for the Economy and Minister of Finance
6. Governor of the Central Bank of Nigeria
7. Minister of Agriculture and Food Security
8. Minister of Aviation and Aerospace Development
9. Minister of Budget and Economic Planning
10. Minister of Communications, Innovation and Digital Economy
11. Minister of Industry, Trade and Investment
12. Minister of Labour and Employment
13. Minister of Marine and Blue Economy
14. Minister of Power
15. Minister of State, Petroleum Resources
16. Minister of State, Gas
17. Minister of Transportation
18. Minister of Works

PECC Members (Organised Private Sector)

1. Alhaji Aliko Dangote
2. Tony Elumelu
3. Alhaji Abdulsamad Rabiu
4. Amina Maina
5. Begun Ajayi-Kadir
6. Funke Okpeke
7. Doyin Salami
8. Patrick Okigbo
9. Kola Adesina
10. Segun Agbaje
11. Chidi Ajaere
12. Abdulkadir Aliu
13. Rasheed Sarumi

Members of the Economic Management Team Emergency Taskforce (EET)

1. Coordinating Minister for the Economy and Minister of Finance (Chairman of the EET)
2. Minister of Budget and Economic Planning
3. Minister of Power
4. Minister of Agriculture and Food Security
5. Coordinating Minister of Health and Social Welfare
6. Minister of Industry, Trade and Investment
7. Governor of the Central Bank of Nigeria
8. National Security Adviser
9. Chairman, Nigeria Governors’ Forum
10. Governor of Anambra State
11. Governor of Ogun State
12. Governor of Niger State
13. Executive Chairman, Federal Inland Revenue Service
14. Director-General, Budget Office of the Federation
15. GCEO, NNPC Limited.
16. Director-General, Nigeria Economic Summit Group
17. Special Adviser to the President on Energy
18. Bismarck Rewane, Economist
19. Suleyman Ndanusa, Economist

Members of the Economic Management Team Established In 2023

1. Coordinating Minister for the Economy and Minister of Finance (EMT Chairman)
2. Governor of the Central Bank of Nigeria
3. Minister of Budget and Economic Planning
4. Minister of Industry, Trade and Investment
5. Minister of Communications, Innovation and Digital Economy
6. Minister of Works
7. Minister of Labour and Employment
8. Minister of Agriculture and Food Security
9. Minister of State, Petroleum Resources
10. Minister of State, Gas
11. Minister of Power
12. Minister of Transportation
13. Minister of Aviation and Aerospace Development
14. Minister of Marine and Blue Economy