President Buhari meets with Nigerian Economic Advisory Council members at the State House, Abuja. Photo credit: fmic.gov.ng

EAC tasks Buhari on improvement of education to grow the nation’s economy

… demands strengthening national statistical agencies, reforming procurement processes, ensuring macroeconomic stability, and providing a friendly climate for foreign investment.

Buhari says global problems can derail Nigeria’s economic plans

… warns against lack of cooperation among Government Ministries, Departments and Agencies (MDAs)

The Economic Advisory Council (EAC) tasks Buhari on improvement of the standard of education in Nigeria as a way of growing the nation’s economy.

It also stressed the need for job planning in training offered by academic institutions.

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In a meeting held at the Presidential Villa in Abuja, The team made up of eight-member council led by Professor Doyin Salami, ascertained that the economy was improving at a slower pace compared to that of the nation’s population.

Professor Salami, backed by the Council members’ interventions, provided answers to questions raised by the President and his team while presenting his report.

They outlined some of the challenges facing the economy and proffered solutions to most of them – one of which is improving education. Others are strengthening national statistical agencies, reform procurement processes, ensuring macroeconomic stability, and providing a friendly climate for foreign investment.

Professor Salami stressed further that people would only come to invest in Nigeria if only they are confident in doing business in Nigerian environment.

President Buhari, in response to the raised questions, gave a strong commitment that his administration would be bound by the council’s advice on economy-related matters and promised to incorporate the points noted in the preliminary report of the Council in government economic policies

He lamented that challenges like changes in global oil prices, poor agricultural harvests, international conflicts, a major epidemic like the current coronavirus disease, tariff changes in major world economies, among others, can seriously affect Nigerian economic plans.

Through his media aide, Garba Shehu, President Buhari warned in a statement that he would no longer tolerate the lack of cooperation Ministries, Departments, and Agencies (MDAs) and reiterated that government, through its above organizations, is serving the interest of the country with the same objective. He directed Mr. Boss Mustapha, the Secretary to the Government of the Federation, to address the lapses observed in coordination between ministries and all agencies of the government.

President Buhari further thanked the Council members for their patriotic acceptance of the challenging responsibilities convened on them.

The Council has Dr. Mohammed Sagagi as vice-chairman and six economic experts as members. They are Professor Ode Ojowu, Dr. Shehu Yahaya, Dr. Iyabo Masha, Professor Chukwuma Soludo, Dr. Bismack Rewane, and Dr. Mohammed Salisu. The two ministers in the Finance Ministry also serve as co-opted members.