The Economic Management Team (EMT) that was chaired by the vice president, Prof. Yemi Osinbajo, has been replaced by Economic Advisory Council (EAC).
President Buhari constituted the 8-man advisory council to take the place of EMT which has been deemed ineffectual. The members made up of:
- Prof. Doyin Salami – Chairman
- Dr. Mohammed Sagagi – Vice Chairman
- Prof. Ode Ojowu – Member
- Dr. Shehu Yahaya – Member
- Dr. Iyabo Masha – Member
- Prof. Chukwuma Soludo – Member
- Mr. Bismark Rewane – Member
Dr. Mohammed Adaya Salisu – Secretary. (He is also the Senior Special Assistant to the president on Policy Development), will report directly to the president.
According to the statement signed by the Special Adviser to the president on Media and Publicity, Femi Adesina:
“the EAC will advise president Buhari 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.”
The statement also said:
“The EAC will have monthly technical sessions as well as scheduled quarterly meetings with the president. The Chairman may, however, request for unscheduled meetings if the need arises.”
The recent development has been in an effort to curtail the impact of escalating poor economic policies on Nigerians. President Buhari has promised to lift 100 million Nigerians out of poverty in 10 years through fiscal policies.
His past administration was heavily criticized for nepotistic appointments and harboring people who were considered unfit for the positions they were appointed into. And it appears that the president wants to right the wrong this time.
Nigerians are expressing optimism that the newly inaugurated council will offer the best advice that will yield the needed economic result.