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EAC Concerned About Economic Growth, Asks Buhari To Strengthen Agencies, Improve Education

President Muhammadu Buhari with members of the Economic Advisory Council (EAC) on the Presidential Villa in Abuja on February 6, 2020.

 

 

The Economic Advisory Council (EAC) on Thursday raised concern concerning the gradual charge at which the nation’s economic system is rising.

The workforce known as President Muhammadu Buhari’s consideration to the state of affairs throughout a gathering held on the Presidential Villa in Abuja.

Led by Professor Doyin Salami, the eight-member council famous that the economic system was enhancing at a slower tempo in comparison with that of the nation’s inhabitants.

Presenting their report, Professor Salami, supported by interventions by Council members, responded to questions by the President and his workforce.

They outlined among the challenges dealing with the economic system and proffered options to most of them.

 

The Council requested the Federal Government to strengthen nationwide statistical companies, reform procurement processes, enhance training.

It additionally pressured the necessity for job planning in coaching provided by tutorial establishments.

EAC additionally delivered to the federal government its views on borrowing, macroeconomic stability, and the necessity to present a pleasant local weather for international funding.

“We need an environment that will attract investment. People will come only when they feel confident and when they come, their exit will not be challenging,” mentioned Professor Salami.

President Muhammadu Buhari with members of the Economic Advisory Council (EAC) on the Presidential Villa in Abuja on February 6, 2020.

 

The council additionally resolved to give attention to legacy initiatives by the administration earlier than 2023.

In his response, President Buhari gave a agency dedication that his administration can be certain by the council’s recommendation on economy-related issues.

He, due to this fact, gave the primary directive from EAC’s suggestions that the Secretary to the Government of the Federation, Mr Boss Mustapha, ought to urgently tackle the lapses noticed in coordination between ministries and all companies of the federal government.

“The lack of synergy between Ministries, Departments and Agencies (MDAs) would no longer be accepted,” the President warned in a press release by his media aide, Garba Shehu.

He added, “We are working for the country, not for personal interests. We have the same objective of service to the people and we will resolve this.”

 

Reviewing the work of the Council since its inauguration, President Buhari mentioned, “I am highly pleased based on what I have read in your Executive Summary with the painstaking thoroughness of your preliminary report.

“I have noted the salient points of your report and these will be incorporated in government economic policies.”

The President additionally spoke concerning the challenges dealing with the economic system and the duties that relaxation on the shoulders of the members.

According to him, the economic system is essentially the most delicate and delicate of all points of nationwide life and somewhat change within the matrix can result in main disruptions within the nation’s economic system.

President Muhammadu Buhari with members of the Economic Advisory Council (EAC) on the Presidential Villa in Abuja on February 6, 2020.

 

“For example, international changes in oil prices, bad harvests, conflicts in strategic global locations, a major epidemic or pandemic like the current coronavirus, tariff changes in major world economies, to mention only a few examples that readily come to mind, can significantly affect our plans,” President Buhari famous.

He additionally requested the EAC ought to now temporary him extra regularly, not less than as soon as each six weeks relatively than as soon as each quarter.

The President thanked the members for his or her patriotism and dedication in accepting the difficult obligations conferred on them.

In addition to Professor Salami, the Council has Dr Mohammed Sagagi as vice-chairman six financial specialists 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 within the Ministry of Finance additionally function co-opted members.

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