The advisory council would advise the President on economic policy matters and would report directly to his office.
President Muhammadu Buhari has constituted an Economic Advisory Council (EAC) following the dissolution of the Economic Management Team. 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 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.
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