Section 1: Establishment and Composition of the Productivity, Prices and Incomes Board.

(1) There is hereby established a body to be known as the Productivity, Prices and Incomes Board (in this Act hereafter referred to as "the Board") which shall have and may exercise such functions as may be conferred on it by or under this Act.
(2) The Chairman and other members of the Board shall be appointed by the National Council of Ministers and shall comprise-
(a) one representative of the Economic Department of the Presidency and of each of the following Federal Minitries, that is-
(i) Agriculture,
(ii) Finance and Economic Development,
(iii) employment, Labour and Productivity, and
(iv) Trade and Tourism;
(b) one representative of the Central Bank of Nigeria;
(c) one representative of the Nigerian Employers' Consultative Association;
(d) one representative of the Nigerian Chamber of Commerce, Industry, Mines and Agriculture;
(e) one representative of the Manufacturers' Association of Nigeria;
(f) four representatives of organised labour of which one shall be a representative of the Civil Service Association;
(g) one representative of the Bankers' Committee;
(h) one representative of the Consumers' Association; and
(i) two economists who shall not be public officers.
(3) The Chairman of the Board shall be a public officer of the rank of Director-General or its equivalent.
(4) There shall be a Secretary to the Board who shall be a public officer.