A new body replacing the economic management team led by Vice-President Yemi Osinbajo has been appointed by President Muhammadu Buhari on Monday.
The announcement, which was contained in a statement by the Special Adviser to the President on Media and Publicity, Femi Adesina, gave details, “This advisory council will replace the current Economic Management Team and will be reporting directly to the President”.
The decision to set up the Economic Advisory Council (EAC), consisting of experts, is a direct reaction to critics of the government who said the Osinbajo-chaired team lacked expertise which was why it had not been able to positively turn around the country’s economy.
The new EAC Buhari named on Monday had Prof Doyin Salami as the Chairman.
Other members are Dr. Mohammed Sagagi (Vice-Chairman); Prof Ode Ojowu; Dr Shehu Yahaya; Dr Iyabo Masha; Prof Chukwuma Soludo; Mr Bismark Rewane; and Dr Mohammed Adaya Salisu (Secretary).
“The Economic Advisory Council (EAC) will 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,” Adesina’s statement 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.”