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Tinubu names Dangote, Elumelu, Rabiu, others in economic committee
President Bola Tinubu has approved the establishment of the Presidential Economic Coordination Council (PECC) and the creation of the Economic Management Team Emergency Taskforce (EET).
According to the Presidency, this is a strategic move to bolster the nation’s economic governance frameworks and ensure robust and coordinated economic planning and implementation.
The PECC comprises distinguished leaders and key government officials, including:
(1) President of the Federal Republic of Nigeria – Chairman
(2) Vice-President of the Federal Republic of Nigeria – Vice-Chairman of the PECC/ NEC Chairman
(3) President of the 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
The statement stated that the PECC will also comprise key members of the organised private sector, with the following members joining for a period not exceeding one year, subject to the President’s directive:
(1) Alhaji Aliko Dangote
(2) Mr. Tony Elumelu
(3) Alhaji Abdulsamad Rabiu
(4) Ms. Amina Maina
(5) Mr. Begun Ajayi-Kadir
(6) Mrs. Funke Okpeke
(7) Dr. Doyin Salami
(8) Mr. Patrick Okigbo
(9) Mr. Kola Adesina
(10) Mr. Segun Agbaje
(11) Mr. Chidi Ajaere
(12) Mr. Abdulkadir Aliu
(13) Mr. Rasheed Sarumi
The statement by the President’s spokesperson, Chief Ajuri Ngelale also read: “Furthermore, in his determination to address immediate economic challenges and ensure the streamlined execution of economic strategies, President Bola Tinubu has established the Economic Management Team Emergency Taskforce (EET) with a mandate to formulate and implement a consolidated emergency economic plan.
The taskforce comprises key government officials and industry leaders in furtherance of the President’s collaborative approach toward achieving economic resilience and growth.
The EET is now mandated to submit a comprehensive plan of economic interventions for 2024 to the PECC, covering the next six (6) months, for immediate implementation within two weeks of its inauguration. The EET will meet twice weekly and is composed of the following members:
(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) Dr. Bismarck Rewane, Economist
(19) Dr. Suleyman Ndanusa, Economist
“The Economic Management Team, established in October 2023, and chaired by the Coordinating Minister for the Economy and Minister of Finance, serves as the working group under the Presidential Economic Coordination Council (PECC), playing a crucial role in the economic governance structure established by the President.
The EMT traditionally meets monthly or as required, but will now suspend its meetings for the duration of the EET’s mandate (six months). The EMT is composed of the following officials:
(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
“The Chairman of the EMT may, as needed, call on any Federal Minister or Head of Agency to brief the EMT on key programmes and developments affecting the economy.
“The President’s formation of the PECC, under 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 strategy aimed at enhancing Nigeria’s economic management architecture for verifiably improved performance. The formation of these teams will complement existing economic governance structures, including the National Economic Council (NEC), which is chaired by the Vice-President.
“Over the next six months, the EET will focus on the rapid implementation, monitoring, and evaluation of critical initiatives, strengthening the Tinubu-led administration’s collective approach to advancing Nigeria’s economic objectives”.
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Stop Managing Nigeria Like Your Personal Business – Edwin Clark Blasts Tinubu
Elder statesman Edwin Clark has cautioned President Bola Ahmed Tinubu, urging him to refrain from treating Nigeria as if it were his personal outfit.
Speaking during a press conference in Abuja, Clark, a prominent Ijaw leader and elder in Nigerian politics, emphasized that the nation’s leadership must be grounded in transparency, inclusivity, and respect for democratic principles.
Clark, who has long been an influential figure in Nigerian politics, expressed deep concerns over recent policies and actions he believes favor narrow interests over the collective good. He cited the President’s economic decisions and appointments as examples of a tendency to prioritize personal or regional advantage, rather than acting in the best interests of all Nigerians.
“Nigeria is not a personal business where one person’s decisions rule unchecked,” Clark declared. “We have a democratic system in place, and the people of Nigeria expect the President to be accountable to them, not to his personal interests or those of his inner circle.”
The 86-year-old statesman also called on President Tinubu to embrace a more inclusive governance model, one that listens to the voices of all Nigerians, including opposition groups and civil society organizations. “This is not about personal power,” Clark said. “It’s about national unity, prosperity, and the future of our children.”
The call comes at a time of heightened political tension in the country, as debates over the President’s economic reforms, security strategies, and appointments continue to dominate public discourse. Critics argue that some of the administration’s policies have disproportionately benefited certain groups while leaving others behind, exacerbating existing inequalities.
In response to Clark’s comments, government officials have yet to release a statement, but supporters of the President have dismissed the remarks as part of a broader political attack aimed at undermining the administration’s legitimacy. They argue that the President’s actions are driven by a desire to modernize the economy and stabilize the nation, especially in the wake of mounting challenges such as security concerns and a faltering economy.
Despite the differing views, Clark’s warning resonates with many Nigerians who feel that their country is at a crossroads, and that leadership must be more than just a pursuit of personal power. As the nation prepares for the years ahead, calls for a government that serves all citizens, rather than a select few, continue to echo across political and social platforms.
News
Russian Cargo Ship Sinks After Exploding In Mediterranean Sea —- Foreign Ministry
By Kayode Sanni-Arewa
An explosion in the engine room caused a Russian cargo ship called Ursa Major to sink in the Mediterranean Sea between Spain and Algeria and two of its crew are missing, the Russian Foreign Ministry said Tuesday.
The vessel, which was built in 2009, was controlled by Oboronlogistika, a company that is part of the Russian Defense Ministry’s military construction operations, which had previously said it was en route to the Russian far eastern port of Vladivostok with two giant port cranes lashed to its deck.
The Foreign Ministry’s crisis center said in a statement that 14 of the ship’s 16 crew members had been rescued and brought to Spain, but that two crew were still missing. It did not say what had caused the engine room explosion.
Unverified video footage of the ship heavily listing to its starboard side with its bow much lower down in the water than usual was filmed on Monday by a passing ship and published on Russia’s life.ru news outlet on Tuesday.
Ursa Major
Oboronlogistika, the ship’s ultimate owner, said in a statement on 20 December that the ship, which LSEG data showed was previously called Sparta III, had been carrying specialized port cranes due to be installed at the port of Vladivostok as well as parts for new ice-breakers.
Two giant cranes could be seen strapped to the deck in the unverified video footage.
LSEG ship tracking data shows the vessel departed from the Russian port of St. Petersburg on 11 December and was last seen sending a signal at 5:04 p.m. ET on Monday between Algeria and Spain.
On leaving St. Petersburg it had indicated that its next port of call was the Russian port of Vladivostok, not the Syrian port of Tartous which it has called at previously.
The operator and owner is a company called SK-Yug, part of Oboronlogistika, according to LSEG data. Oboronlogistika and SK-Yug declined to comment on the ship’s sinking.
Spanish news outlet El Espanol said on its website that crew members had been evacuated to the Spanish port of Cartagena and that several vessels, including a Spanish Navy ship, had taken part in rescuing the crew.
It said the vessel had been due to arrive in January 22 in Vladivostok.
News
Sad! How I Watched My Mum, Dad, 3 Siblings Burn To Death,’ Says Victim Of Accidental Military Strike On Sokoto Communities
By Kayode Sanni-Arewa
The military strike on communities in Sokoto State, Northwest Nigeria, on Christmas Day, resulted in the loss of lives and destruction of property.
Hauwa’u, a young girl, witnessed the devastating moment when her parents and three younger siblings were burned to death in the airstrike by the Nigerian military.
“I see them burning, my mother, my father, and my three younger siblings,” BBC Pidgin quoted her to have said.
According to eyewitnesses, the airstrike, which occurred around 7 am, targeted the villages of Rumtuwa and Gidan Sama in Silame local government.
The attack reportedly killed 10 people, injured six others, and destroyed numerous homes and livestock.
Residents reported that soldiers had surrounded the communities before the airstrike, and later, three aircraft dropped bombs on the area.
One eyewitness, Malam Muhammad, stated that the soldiers prevented people from nearby villages from accessing the affected areas.
Muhammad, who lives near the village where the incident occurred, said “later three aircraft believed to belong to the military came dropping bombs on the place”.
“The soldiers surrounded the communities between 6 a.m and 7 a.m, and shortly after three aircraft began to drop bomb on the residents.”
He added, “It was later when things started to calm down that we approached the communities to see for ourselves what happened but regrettably, military wouldn’t let us go close.”
Another villager Usman Manuga said the incident happened after the Asr prayers.
“After we prayed, we came out. I wanted to go and greet my parents. I heard the people saying, ‘Look, look, look,’ and I came out and saw them with my own eyes.”
“I was there when one of them (the bombs) hit us.”
The Sokoto State Governor, Ahmad Aliyu, attended the burial of the victims and attributed the airstrike to a mistake by the military.
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