The newly constituted Economic Advisory Council (EAC) has been described as a bold move by President Muhammadu Buhari to galvanise the country’s economic momentum and create a diverse philosophical dimension to the economy.
The Buhari Media Organisation (BMO) said it is a true reflection of the president’s second term campaign to take Nigeria to the next level, as well as build on the successes of the mid-term Economic Recovery and Growth Plan (ERGP).
BMO said in a statement signed by its chairman, Niyi Akinsiju, and secretary, Cassidy Madueke, Wednesday said the composition of the advisory council shows the strategic thinking of the Buhari administration, devoid of partisan considerations.
“This is indeed the first time that any administration, since 1999, would be putting together an economic advisory council of this nature, in terms of differences in tendency and orientation.
“These are men and women of great standing in their chosen fields, who can best be described as high-profile global economists that could easily be part of any economic team anywhere in the world. Many of them have played key roles and held positions locally and internationally, where they influenced major economic policies.
“And for President Buhari to have considered them worthy to be part of a team that would report to him, through the Vice President, shows his readiness to provide a platform for some of Nigeria’s best economists to pave way for robust policies for the country, as well as a policy redirection, if necessary.
“Just like many Nigerians, we are looking forward to the prospect of tough monthly technical sessions from this group of high calibre economists from a variety of backgrounds, who also have a brief to interact with relevant cabinet members and heads of monetary and fiscal agencies, in the course of carrying out their duty,” the group said.
BMO added that the president deserves commendation for picking a team that has at least two former chief economic advisers to past presidents, a former Governor of the Central Bank of Nigeria (CBN) and a one-time IMF representative to Sierra Leone, a team filled with talents from all parts of the country.
It said: “This team, headed by the renowned Professor Doyin Salami, is an embodiment of the strength of the Nigerian workforce which is universally acknowledged as one of the best in the world.
“Anyone in doubt of the president’s strategic mindset should take a second look at the profile of the man who is chairing the council. Although he is a member of CBN’s Monetary Policy Committee, Salami has a rich background in consultancy for the Department for International Development (DFID), World Bank, United Nations Industrial Development Organisation (UNIDO), United States Agency for International Development (USAID) and recently served as Peer Reviewer for the International Finance Corporation’s (IFC) review of its Nigeria strategy.
“We acknowledge that he would not exactly be on a strange terrain as he was a member of the country’s Economic Management Team during the tenure of late President Umaru Musa Yar’Adua. Professor Salami also served as vice-chair (under the leadership of Alhaji Ahmed Joda) of the transition committee for president Muhammadu Buhari in 2015.