* Heads 31-man presidential financial coordination council
* Cardoso, Edun, Dangote, Elumelu, Rabiu, Agbaje make checklist
* Edun heads 19-man financial administration group emergency taskforce
Deji Elumoye in Abuja
President Bola Tinubu on Wednesday took very particular steps geared toward reviving the nation’s economic system with the institution of complete financial coordination and planning system for the nation.
In keeping with a launch issued by presidential spokesperson, Ajuri Ngelale, three key financial committees had been constituted with the president heading the 31-man presidential financial coordination council, whereas the Minister of Finance and Coordinating Minister of the Financial system, Mr Wale Edun, will chair each the 19-man financial administration group emergency taskforce and the 14-man financial administration group.
President Tinubu accredited the structure of the committees in a strategic transfer to bolster the nation’s financial governance frameworks and guarantee sturdy and coordinated financial planning and implementation.
Membership of the Presidential Financial Coordination Council (PECC) embrace President Tinubu as Chairman, Vice-President Kashim Shettima, Vice-Chairman; President of the Nigerian Senate; Chairman, Nigeria Governors’ Discussion board;
Coordinating Minister for the Financial system and Minister of Finance; Governor of the Central Financial institution of Nigeria; Ministers of Agriculture and Meals Safety; Aviation and Aerospace Improvement and Funds and Financial Planning.
Others embrace Ministers of Communications, Innovation and Digital Financial system; Business, Commerce and Funding; Labour and Employment; Marine and Blue Financial system; Energy; State, Petroleum Assets; State, Gasoline; Ministers of Transportation and Works.
The PECC, which additionally contains 13 key members of the organized personal sector becoming a member of for a interval not exceeding one yr, topic to the president’s directive, embrace
Alhaji Aliko Dangote, Mr. Tony Elumelu, Alhaji Abdulsamad Rabiu, Ms. Amina Maina, Mr. Begun Ajayi-Kadir, Mrs. Funke Okpeke and Dr. Doyin Salami.
Different PECC members from the personal sector are Mr. Patrick Okigbo, Mr. Kola Adesina, Mr. Segun Agbaje, Mr. Chidi Ajaere, Mr. Abdulkadir Aliu and Mr. Rasheed Sarumi.
In his dedication to additional deal with fast financial challenges and make sure the streamlined execution of financial methods, President Tinubu additionally established the Financial Administration Group Emergency Taskforce (EET) with a mandate to formulate and implement a consolidated emergency financial plan.
The taskforce contains key authorities officers and trade leaders in furtherance of the president’s collaborative strategy in direction of reaching financial resilience and progress.
The EET is now mandated to submit a complete plan of financial interventions for 2024 to the PECC, protecting the subsequent six months, for fast implementation inside two weeks of its inauguration.
Membership of the EET, which is able to meet twice weekly, embrace the Coordinating Minister for the Financial system and Minister of Finance (Chairman), Ministers of Funds and Financial Planning, Energy, Agriculture and Meals Safety, Well being and Social Welfare, Business, Commerce and Funding, Governor of the Central Financial institution of Nigeria, Nationwide Safety Adviser, Chairman, Nigeria Governors’ Discussion board
and Governor of Anambra State.
Different members are Governors of Ogun and Niger States, Government Chairman, Federal Inland Income Service, Director-Common, Funds Workplace of the Federation, GCEO, NNPC Restricted, Director-Common, Nigeria Financial Summit Group, Particular Adviser to the President on Vitality, Dr. Bismarck Rewane, Economist and Dr. Suleyman Ndanusa, Economist.
One other 14-man Financial Administration Group, established in October 2023, and chaired by the Coordinating Minister for the Financial system and Minister of Finance, will function the working group below the Presidential Financial Coordination Council (PECC), enjoying an important function within the financial governance construction established by the president.
The EMT historically meets month-to-month or as required, however will now droop its conferences all through the EET’s mandate of six months.
Membership of the EMT embrace the Coordinating Minister for the Financial system and Minister of Finance (Chairman); Governor of the Central Financial institution of Nigeria; Ministers of Funds and Financial Planning; Business, Commerce and Funding; and Communications, Innovation and Digital Financial system.
Different members are Ministers of Works; Labour and Employment; Agriculture and Meals Safety; State, Petroleum Assets; State, Gasoline; Ministers of Energy; Transportation; Aviation and Aerospace Improvement and Marine and Blue Financial system
Chairman of the EMT could, as wanted, name on any Minister or Head of Company to transient the EMT on key programmes and developments affecting the economic system.
The president’s formation of the PECC, below his chairmanship, alongside the creation of the EET, led by the Chairman of the EMT, and the EMT itself, is the manifestation of a unified technique geared toward enhancing Nigeria’s financial administration structure for verifiably improved efficiency.
The formation of those groups will complement present financial governance constructions, together with the Nationwide Financial Council (NEC), which is chaired by the vice-president.
Over the subsequent six months, the EET will concentrate on the fast implementation, monitoring and analysis of important initiatives, strengthening the Tinubu-led administration’s collective strategy to advancing Nigeria’s financial goals.