Uche Usim, Abuja
As the newly-inaugurated Economic Advisory Council (EAC), chaired by Prof. Doyin Salami, settles down to business, experts have asked President Muhammadu Buhari, to protect them from powerful and greedy politicians who may want to frustrate their efforts on realising their recommendations are going to block financal loopholes in the economy for fraudulent enrichment.
The eight-man council replaces the former Economic Management Team (EMT) headed by the Vice President, Prof Yemi Osinbajo. 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).
However, the non-inclusion of the governor of the Central Bank of Nigeria, Mr Godwin Emefiele and Minister of Finance, Zainab Ahmed has raised some dust among Nigerians who wondered why such key officers were not listed among Buhari’s Economic Advisory Committee.
But ahead of their formal inauguration by President Buhari, a cross section of Nigeria who spoke to Daily Sun want the EAC to look into some controversial issues like petrol subsidy programme, tax reforms, and non-oil export, among other areas.
Already, the Manufacturers Association of Nigeria (MAN), through its Director-General, Mr Segun Ajayi-Kadir, has commended President Buhari for unveiling EAC, saying it is made up of seasoned professionals.
Ajayi-Kadir called for the urgent review of some of the current economic policies of the government that are not helping the economy.
The MAN boss urged the EAC to do a critical and comprehensive review of the current policy initiatives driving government’s policy direction and immediately harmonise the outcomes to evolve an agenda that will guide the efficient management of the economy going forward.”
Given its mandate to advise Buhari on fiscal analysis, economic growth and a range of internal and global economic issues and working closely with the relevant cabinet members and heads of monetary and fiscal agencies, industry experts have called for more support to help the new team to successfully tow the nation’s wobbly economy out of the doldrums.
Since they would be relying on data and other vital statistics from various Ministries, Departments and Agencies (MDAs) to deliver on their assignment, Nigerians have called on the Presidency to shield the EAC from influential politicians that would want to frustate their efforts.
It listed some of them to include Nigeria’s Industrial Revolution Plan, Economic Recovery and Growth Plan, the Presidential Enabling Business Environment Council and the 2020-2022 Medium Term Fiscal Framework and Fiscal Strategy.
MAN suggested that the EAC should work in tandem with the proposed National Action Committee on the African Continental Free Trade Agreement.