Approaching late March, Nigeria’s Naira had started to see a rebound after several months of its value falling when compared with other currencies. To maintain the positive trajectory, President Bola Tinubu has thought up the Economic Management Team Emergency Taskforce (EMT) to come up with novel ideas to stem the rapidly declining economic fortunes of Nigerians.

Over six months, Nigerians are expected to see these ideas being adapted to their daily lives and for their economic good. That is how a State House statement on Wednesday, 27 March had explained it to keep the president’’s renewed hope policy alive.

Special Adviser to the President on media and publicity, Ajuri Ngelale said that 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.

Besides the flop of letting a Binance crypto exchange executive to get away while he, his partner and their company were being prepared for a tax fraud trial, there have been an interesting number of positives to look upon since the beginning of the month.

ALSO READ: How a $1 trillion Nigerian economy will come about

With a special team thinking up new hacks, President Tinubu hopes to finally be a man of his word. That means keeping most of the promises he made while campaigning to become his country’s number one.

The formation of these teams, which would be headed by the Coordinating Minister for the Economy and Minister of Finance, Mr Wale Edun, will complement existing economic governance structures, including the National Economic Council (NEC), which is chaired by the Vice-President, adds the special adviser.

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.

The taskforce draws its roots from the Presidential Economic Coordination Council (PECC), which has in the fold, Africa’s richest man Aliko Dangote and also the chairman of the United Bank for Africa, Tony Elumelu from the organised private sector.

pic.twitter.com/M7tZLp4lBg

— Presidency Nigeria (@NGRPresident) March 27, 2024

Getting one over Nigeria’s economy had demanded the president to carry on with wearing the cape pretty fast since his entire countrymen and women seem to be running out of patience. Mr Bola Tinubu’s campaign promises emphatically characterised him as the one who can bring about the change that his immediate predecessor made a blunt effort in trying to deliver.

The current president is riding on momentum – the Naira getting stronger against the dollar and so forth – but in the background of it all, Nigerians are yet to completely see the difference in their purchase of groceries.

Ayodele Johnson

Ayodelé is a Lagos-based journalist and the Content and Editorial Coordinator at Meiza. All around the megacity, I am steering diverse lifestyle magazine audiences with ingenious hacks and insights that spur fast, informed decisions in their busy lives.