Who is in charge of the Nigerian economy – Kalu Ajah

The Economic Management Committee (EMT) in Nigeria was established in October 2023 and is chaired by the Coordinating Minister for the Economy and the Minister of Finance.

President Tinubu then on March 27, 2024 set up the Economic Management Committee Emergency Task Force (EET) and tasked it to submit a comprehensive plan of economic interventions for 2024 to PECC within two weeks of its inauguration.

The President constituted the Presidential Economic Coordination Council (PECC) to ensure robust and coordinated economic planning and implementation.

If it feels like a trifle, it is. stay with me; I will list the MDA showing up in all three committees

1. Coordinating Minister for Economy and Finance Minister (EMT Chairman)

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2. Governor of the Central Bank of Nigeria

3. Ministry of Agriculture

4. Minister of Budget and Economic Planning

5. Minister of Industry, Trade and Investment

6. Minister of Power

Why can’t these six government officials form an economic committee? Why should they be in three separate economic groups with related objectives?

One of my passions is about ministry. It appears in PECC and EMT but not in EET. Why does the management not consider the tasks? „urgent” Or not understanding that jobs are a unit of economic intervention? Which team is in charge of the Nigerian economy today?

Well, this is the Economic Management Committee Emergency Task Force (EET). The EET retains the mandate to develop and implement an emergency economic plan.

This plan, when submitted, will cover the next six months. So, who is this EET?

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(1) Coordinating Minister for Economy and Finance Minister (Chairman of EET)

(2) Minister of Budget and Economic Planning

(3) Minister of Electricity

(4) Minister of Agriculture and Food Security

(5) Coordinating Minister of Health and Social Welfare

(6) Minister of Industry, Trade and Investment

(7) The Governor of the Central Bank of Nigeria

(8) National Security Adviser

(9) President, Nigeria Council of Governors

(10) Governor of Anambra State

(11) Governor of Ogun State

(12) Governor of Niger State

(13) Chief Executive Officer, Central Inland Revenue Service

(14) Director-General, Budget Office of the Federation

(15) GCEO, NNPC Limited

(16) Director General, Nigeria Economic Summit Committee

(17) Special Adviser to the President on Energy

(18) Dr. Bismarck Revan, Economist

(19) Dr. Sulaiman Natanusa, Economist

Again, what is the point of PECC if the EET job is to develop and implement a six-month economic plan?

Why is the President not in EET? Has the President handed over the economy to unelected officials? At whose behest?

In short, there is a popular saying that too many cooks spoil the broth. I think there are too many „chefs” in managing the Nigerian economy. This creates a scale control problem.

You promote and advise the interests of the federal, state and private sector; It makes for good kumbaya, but it’s clumsy

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