BY EDMOND ODOK, ABUJA – After four years of bashing from experts and several authorities on economic matters, President Muhammadu Buhari on Monday finally constituted a visible Economic Advisory Council (EAC) for the country
Obviously bowing to sustained pressure within and outside the nation’s financial space, the new Council replaces the largely quiet Economic Management Team (EMT) that has been under the watchful eyes of the Vice President, Professor Yemi Osinbajo during the administration’s first tenure.
Chaired by Professor Adedoyin Salami, the eight-member Council is charged with reporting directly to the President.
A statement by the President’s Special Adviser on Media & Publicity, Femi Adesina, listed the Council’s members to include Dr Mohammed Sagagi as Vice Chairman; Professor Ode Ojowu; Dr Shehu Yahaya; and Dr Iyabo Masha.
Others are former Central Bank of Nigeria (CBN) Governor, Professor Chukwuma Soludo; Mr Bismark Rewane and the Senior Special Assistant to the President, Development Policy, Dr Mohammed Adaya Salisu, who will serve as the Council Secretary.
According to Adesina, the EAC is mandated 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.”
He also explained that the Council will have monthly technical sessions as well as scheduled quarterly meetings with the President.
In addition, the Presidential aide stated that; “The Chairman may, however, request for unscheduled meetings if the need arises”
Born on April 4, 1963, the EAC Chairman is an economist, who, in November 2017, completed a two-4-year term (Eight years) as member of the Central Bank of Nigeria (CBN)’s Monetary Policy Committee.
He is a Senior Fellow/Associate Professor and full-time member of the faculty at the Lagos Businesd School (LBS), Pan-Atlantic University.
The 56 years old Ogun State indigene began his career with Adetutu & Co. Limited, before joining the University of Lagos, Akoka, Lagos, Nigeria, as a Lecturer in the Department of Economics.