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Tony Elumelu, Dangote Others Named As PECC Members As President Tinubu Establishes Comprehensive Economic Coordination And Planning System For Nigeria

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In a strategic move to bolster the nation’s economic governance frameworks and ensure robust and coordinated economic planning and implementation, President Bola Ahmed Tinubu has approved the establishment of the Presidential Economic Coordination Council (PECC) and the creation of the Economic Management Team Emergency Taskforce (EET).

The Presidential Economic Coordination Council (PECC) comprises distinguished leaders and key government officials, including:

(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

The PECC will also comprise key members of the organized private sector, with the following members joining for a period not exceeding one (1) 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

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.

BIG STORY

Wike’s Verbal Assault On Soldier Undermines National Security, He Must Apologise — Buratai

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Former Chief of Army Staff, Lt. Gen. Tukur Buratai (rtd), has condemned the Minister of the Federal Capital Territory (FCT), Nyesom Wike, over a recent confrontation with military personnel at a disputed land site in Abuja.

Videos circulating on social media on Tuesday showed Wike in a heated exchange with uniformed officers during an inspection of the land in question.

In a statement released on Wednesday, Buratai described the altercation as a direct “threat to national security,” warning that it requires “immediate and serious response” from relevant authorities.

“His public disparagement of a uniformed officer of the Nigerian Armed Forces transcends mere misconduct; it represents a palpable threat to national security and institutional integrity,” Buratai said.

He added that “a minister’s verbal assault on a military officer in uniform is an act of profound indiscipline that strikes at the core of our nation’s command and control structure.”

Buratai further explained that such behaviour “deliberately undermines the chain of command, disrespects the authority of the Commander-in-Chief, and grievously wounds the morale of every individual who serves under the Nigerian flag.”

He warned that “such actions erode the very foundation of discipline upon which our national security apparatus stands,” stressing that it should not be treated as “political theatre.”

“This is a reckless endangerment of national order. This action by Wike is clearly an indication of undermining the federal government’s authority,” he said.

The former army chief called on Wike to publicly apologise to President Bola Tinubu, the Commander-in-Chief of the Armed Forces, and to the military officer involved in the incident.

“Our nation’s security must come first. It is time for decisive action, not politics of military bashing. The integrity of our Armed Forces demands nothing less,” Buratai added.

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Senate Panel Rejects NNPCL’s Position On ‘Unaccounted’ N210trn, Demands To See Ojulari

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The Senate Committee on Public Accounts has dismissed the written explanations submitted by the management of the Nigerian National Petroleum Company Limited (NNPCL) regarding the “unaccounted” N210 trillion uncovered in its audited financial statements between 2017 and 2023.

On October 7, the committee chairman, Senator Aliyu Wadada, confirmed that the NNPCL had responded to all 19 audit queries raised about its finances. The review followed findings from the Office of the Auditor-General of the Federation, which highlighted significant discrepancies in the company’s books.

According to the audit report, N210 trillion could not be properly accounted for — comprising N103 trillion listed as liabilities and N107 trillion as assets.

Despite being scheduled to appear before the committee on Tuesday, the NNPCL management failed to show up, opting instead to send a written response. The decision drew sharp criticism from lawmakers, who accused the company of avoiding accountability.

Describing the company’s action as “offensive evasiveness,” Senator Wadada said the committee would no longer accept written submissions or representatives appearing on behalf of Bayo Ojulari, the Group Chief Executive Officer (GCEO) of NNPCL.

“Today, November 11, 2025, was a date chosen by NNPC,” Wadada said. “It is rather unfortunate that none of the officials of NNPC is here on a date they themselves chose. The public has been waiting for this. It is important that we keep Nigerians informed.”

He said the committee would proceed with its findings based on the documents already submitted, noting that the company’s explanations raised major red flags over claims of N103 trillion in accrued expenses and N107 trillion in receivables, totalling N210 trillion.

Wadada further stated that the submissions made by NNPCL contradicted evidence already in possession of the committee. “NNPC claimed N103 trillion as accrued expenses and N107 trillion as receivables—amounting to N210 trillion,” he said. “On question eight, NNPC’s explanation on the N107 trillion receivables — equivalent to about $117 billion — contradicts available facts and evidence provided by NNPC itself. The committee is duty-bound to reject this.”

He also questioned the credibility of the company’s claim that it paid N103 trillion in cash calls in 2023 alone, pointing out that its total crude oil revenue between 2017 and 2022 was only N24 trillion. “Cash call arrangements were abolished in 2016 under the Buhari administration,” he said. “How can NNPC claim to have paid N103 trillion in one year when it only generated N24 trillion in revenue over five years? Where did NNPC get that money?”

The senator added that the alleged N103 trillion must be remitted to the federal treasury pending proper clarification from the company.

Wadada also dismissed NNPCL’s justification for the N107 trillion in receivables, which it partly attributed to funds supposedly held in defunct banks. “No bank or amount was named. This lack of transparency is unacceptable,” he said.

He disclosed that the committee might summon former officials of both NNPCL and the National Petroleum Investment Management Services (NAPIMS) to provide further clarification, stressing that NAPIMS, by law, is not permitted to operate an independent account.

Wadada warned that future committee invitations must be honoured in person by the NNPCL chief executive, stating, “At any point this committee invites NNPC; the chief executive must appear in person. Being out of the country will no longer be accepted as an excuse.”

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BIG STORY

Tinubu Sends Delegation To UK To Negotiate Ekweremadu’s Transfer To Nigeria

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President Bola Tinubu has dispatched a high-level delegation to London to open discussions with British authorities on the case of former Deputy Senate President, Ike Ekweremadu, who has been in a UK prison since March 2023.

The delegation includes Yusuf Tuggar, Minister of Foreign Affairs, and Lateef Fagbemi, Attorney General and Minister of Justice. Both officials arrived in London on Monday and held meetings with senior officials of the United Kingdom’s Ministry of Justice.

Confirming the development, Alkasim Abdulkadir, spokesperson for the Foreign Affairs Minister, told TheCable on Tuesday that the visit was aimed at consulting with British authorities on the possibility of Ekweremadu completing his remaining prison term in Nigeria.

The Ekweremadu Case

Ike Ekweremadu and his wife, Beatrice, were arrested by the London Metropolitan Police in June 2022 after a young man was allegedly misrepresented as a cousin to their daughter, Sonia, in a bid to carry out a kidney transplant at the Royal Free Hospital in London.

The 21-year-old donor had informed police in May 2022 that he was brought into the United Kingdom under false pretences for an organ transplant and had been promised work in the country.

Following a full trial, a UK court in March 2023 found the former deputy senate president guilty of organ trafficking, alongside his wife and a Nigerian doctor, Obinna Obeta. The conviction marked the first of its kind under the United Kingdom’s Modern Slavery Act.

On May 5, 2023, the court sentenced Ekweremadu to nine years and eight months in prison, while his wife received a four-year, six-month sentence. Obeta, the medical doctor involved, was handed a 10-year sentence.

In his ruling, Justice Jeremy Johnson directed that Beatrice Ekweremadu should serve half of her sentence in custody and the remainder on licence.

However, in January 2025, Beatrice was released from prison and returned to Nigeria. Her husband, meanwhile, continues to serve his term in a UK correctional facility.

The Nigerian government’s recent intervention seeks to explore diplomatic and legal frameworks that could allow Ekweremadu to complete his sentence within Nigeria’s correctional system.

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