President Muhammadu Buhari has dissolved the Economic Management Team (EMT) headed by Vice-President Yemi Osinbajo. In its place is the new Economic Advisory Council (ECA).
A statement by the Special Adviser to the President on Media and Publicity, Mr. Femi Adesina, said the new council will be chaired by Prof. Doyin Salami, who is a well-known economist and a member of the faculty of Lagos Business School (LBS), Pan-Atlantic University, Lekki, Lagos.
Dr. Mohammed Sagagi will serve as Vice-Chairman.
Other members of the council include a former Governor of the Central Bank of Nigeria, Prof. Charles Soludo; the Chief Executive of Financial Derivatives, Mr. Bismark Rewane; Prof. Ode Ojowu, Dr. Shehu Yahaya, Dr. Iyabo Masha and the Senior Special Assistant to the President on Development Policy, Dr. Mohammed Adaya Salisu, who will serve as the Secretary of the body.
This advisory council will replace the current Economic Management Team (EMT) and will be reporting directly to the President.
The statement added that the Economic Advisory Council (EAC) will 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.
The EAC will have monthly technical sessions as well as scheduled quarterly meetings with the President.
The Chairman may, however, request for unscheduled meetings, if the need arises, it was further stated.