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President Muhammadu Buhari has constituted an Economic Advisory Council (EAC). This was disclosed in a press release signed by the Special Adviser on Media and publicity, Femi Adesina.

According to the list obtained from Malam Garba Shehu, the Senior Special Assistant, Media and Publicity to the President, Professor Doyin Salami will lead the team, while Dr. Mohammed Sagagi is the Vice-Chairman of the Council.

Also in the list are the former Governor of Central Bank of Nigeria (CBN), Prof. Charles Soludo and a renowned economist and Chairman of Minimum Wage Advisory Committee Mr. Bismark Rewane as members.

The Full List: The new Economic Advisory Council (EAC) is made up of the following:
1. Prof. Doyin Salami – Chairman
2. Dr. Mohammed Sagagi – Vice-Chairman
3. Prof. Ode Ojowu – Member
4. Dr. Shehu Yahaya – Member
5. Dr. Iyabo Masha – Member
6. Prof. Chukwuma Soludo – Member
7. Mr. Bismark Rewane – Member
8. Dr. Mohammed Adaya Salisu – Secretary (Senior Special
Assistant to the President, Development Policy)

Tasks ahead: According to the Presidency, the advisory council will replace the current Economic Management Team (EMT) and will be reporting directly to the President.

  • The Economic Advisory Council will be tasked to advise the President on economic policy matters, including fiscal analysis, economic growth and a range of internal and global economic issues working with the relevant cabinet members and heads of monetary and fiscal agencies.
  • Similarly, the team will have monthly technical sessions as well as scheduled quarterly meetings with the President. However, the Chairman may request unscheduled meetings if the need arises.

What it means: This is a welcome development as the team of technocrats and experts constituting the new economic advisory council are expected to raise expectations within the investment circle, as the Nigerian economy does not require anything less to attain its growth potential following the recent slow down witnessed across key sectors.

 

2 COMMENTS

  1. .i thought they had an economic team before,is not prof ojomo not in the previous vice-president economic team or not ?.I felt the previous economic team were capable.For 3 yrs we are talking about the same,which obj said before,and his former minister of finance Dr Usman ACTION AND SYNERGY..Good luck to this new economic team,obj did phoned Mrs Adeosun about 3 yrs ago or 2 yrs ago,why not do this home-grown forex bond ?,where the govt is the debtor and the creditor,now we are saddled with Chinese foreign debt.
    Obj did also the ministry of finance or the economic Team was confused ,or still confused.TOO MANY COOKS WITH THEIR HAND ON THE SPOON STIRRING THE SOUP.they may overcook the soup.for one professor soludu sees economic problem different from theory or macroeconomy from Prof Salami or Dr Mohammed Sagagi even prof Ode Ojowo,will they agree on any solution.
    There maybe a solution,if Mr Buhari uses his chief of staff effective and powerfully.his chief of staff,i think he worked as a banker,if I am right.MUST HAVE A SAY IN THIS ECONOMIC TEAM OUTPUT,HE MUST GIVE AN OPINION AS AN ADVISE TO MR BUHARI ON THIS ECONOMI TEAM SUMMARY,otherwise we will be in this present suitation we are facing now and on what we we faced before

    • Gen Abacha,inspite,his fault,he does listens,however on what I said,i am not saying mr Buhari does not listen,as I knows he saw and read some of Nigerian website and I knows Mr Buhari does listen,govt is not easy(,without the help of his presidential assistant),i only wanted to add some more comment.Gen Abacha appointed Chief Michael Ani as his Finance Minister,Chief Ani went back to Gen Abacha,i will serve you and the nation,i am an accountant by training,i have no training in economics or national planning,so Gen Abacha appointed Prof Aluko to monitor or put some input in the national budget,so all or some economics input came from prof Aluko,and he was appointed the head of the economics intelligence,this is why prof Aluko said, Gen Abacha was prudent. it is not I do agrees that Gen Abacha was prudent as the economy was under terrible stress and compacted
      With Gen Abacha, he calls,most of those who will disagree him,to argues their case with him,even with prof Aluko,they do argues a lot,even on Nigerian democracy,or his other Gens

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