President Bola Ahmed Tinubu of Nigeria has established the Presidential Economic Coordination Council (PECC) and chosen 31 notable individuals from the private and public sectors to fill its ranks. Included in this selection are several prominent figures from the Nigerian tech industry.
Bosun Tijani, founder of CcHub, Nigeria’s inaugural tech hub, and the country’s Minister of Communications, Innovation, and Digital Economy, is one of the appointees. Funke Opeke, founder and CEO of internet provider MainOne, and Chidi Ajaere, Chairman of Greatman Legend, the parent company of GIG Mobility and GIG Logistics, have also been included.
The nomination of these three tech leaders to the PECC underscores the significant growth of Nigeria’s tech ecosystem and its expanding role beyond just representing the tech industry.
The National Bureau of Statistics (NBS) reports that by the conclusion of the fourth quarter in 2023, the Information and Communications Technology (ICT) sector had contributed as much as 16% to Nigeria’s real GDP.
Moreover, the tech sub-sector’s representation in the PECC, which makes up 10% of the council, exemplifies its significant contribution to the nation’s overall economic prosperity. This representation showcases the national economic decision-making body’s recognition of the tech ecosystem’s importance.
Ajuri Ngelale, spokesperson for President Tinubu, announced on Thursday, March 28, 2024, that the formation of the PECC is intended to bolster Nigeria’s economic governance structures. The aim is to ensure comprehensive and well-synced economic planning and implementation.
The three tech executives, along with the other 28 members, have been appointed to serve on the PECC for a one-year term, as directed by President Tinubu.
More on the appointees:
Bosun Tijani is the founder of Co-Creation Hub (CcHub), a hotbed for brilliant ideas. Notably, in February 2023, the company launched a $15 million edtech accelerator program, which included an initial investment of $100,000 in 72 startups operating in Nigeria and Kenya.
Chidi Ajaere is the founder of JET Motor Company, an African mobility brand. The company launched its flagship product, the JET MOVER, in 2019. This multipurpose van was designed to promote the adoption of locally manufactured vehicles. In 2020, the company also released an Electric Vehicle (EV) model, demonstrating commitment to vehicle production in Africa and sustainable practices.
Funke Opeke returned to Nigeria as MTN’s Chief Technical Officer (CTO) in 2005, following a twenty-year stint as Executive Director of Verizon Communications Wholesale Division in the United States. After MTN’s acquisition of NITEL, she took on the role of the company’s interim Chief Operating Officer (COO) for a brief period.
In addition to the three tech executives, the PECC is composed of other distinguished members, including Senate President Akpabio, Vice-President Shettima, President Tinubu, the Governor of the Central Bank of Nigeria, the Chairman of the Nigeria Governors’ Forum, and eleven other ministers. Shettima is set to chair the council.
Moreover, in a bid to harness private sector insights, President Tinubu expanded the PECC membership by nominating 11 private sector luminaries. These include Alhaji Aliko Dangote of the Dangote Group, Tony Elumelu, the Chairman of Heirs Holdings, and Segun Agbaje, the Managing Director of Guaranty Trust Holding Company Plc.
Further, President Tinubu has also established a 19-person Economic Management Team Emergency Taskforce. This team has been tasked with handling immediate economic challenges and ensuring the efficient execution of economic strategies.
