Formation Of Economic Advisory Council Is ‘Timely, Commendable’ – MAN

Chukwuma Soludo                                                                                                               Bismark Rewane



The Manufacturers Association of Nigeria (MAN) has lauded the constitution of an Economic Advisory Council (EAC) by President Muhammadu Buhari.

In a statement on Tuesday by its Director-General, Segun Ajayi-Kadir, MAN described the news of the formation of the council as “timely and commendable”.

President Buhari had set up the Council chaired by Professor Doyin Salami, with Dr Mohammed Sagagi as vice chairman and the Senior Special Assistant to the President on Development Policy, Dr Mohammed Salisu, as the secretary.

A former governor of the Central Bank of Nigeria (CBN), Professor Chukwuma Soludo, and the Managing Director/Chief Executive Officer of Financial Derivatives Company Limited, Mr Bismark Rewane, and three others members.

READ ALSO: Soludo, Rewane, Others Appointed To Economic Advisory Council

In his reaction, the MAN DG said, “This, by far, is a clear demonstration of the determination of Mr President to re-energise the management of the economy in his second term in office.

“Nigerians, and indeed the private sector, are highly desirous of an effective and knowledge-driven team that will lead on the economic front.”

According to him, the beauty of the team, apart from the pedigree of its members, is its composition of private-sector citizens who they believe will operate independently and effectively.

Ajayi-Kadir is confident that the team would not be shackled with the bureaucracy of government and political interference.

He insisted that the members were more likely to be receptive to a wide range of opinions and innovations, even if deferring from the norm.

“MAN, therefore, propose that the team in partnership with the private sector should carry out a critical and comprehensive review of the current policy initiatives that drive the actions of government and urgently harmonise the outcomes to craft an agenda that will guide the management of the economy going forward,” the MAN DG recommended.

He added, “Already on ground are policy initiatives such as the Nigerian Industrial Revolution Plan (NIRP), Economic Recovery and Growth Plan (ERGP), the 2020-2022 Medium Term Fiscal Framework and Fiscal Strategy.”

Ajayi-Kadir said it behoved the Council to recommend pragmatic programmes that would improve the achievements already made in some areas such as Ease of Doing Business in the country.

He noted that the EAC came on the heels of the promised National Action Committee on African Continental Free Trade Area (AfCFTA).

The AfCFTA, according to the MAN DG, is unarguably the most pressing preoccupation of continental economic actors in Africa.

He, however, believes the right composition of the committee will augur well for the needed synergy with the Council to boost Nigeria’s chances of being net gainers in the continental free trade area.

While they look forward to the prospect, Ajayi-Kadir was hopeful that the EAC’s monthly technical sessions and scheduled quarterly meetings with the President would guarantee the attention of government and implementation of its advice.

He said the organized private sector, particularly MAN, would eagerly engage the Council in a bid to achieve the desired growth and development of the nation’s economy.

Soludo, Rewane, Others Appointed To Economic Advisory Council

Chukwuma Soludo                                                                                                                Bismark Rewane



President Muhammadu Buhari has constituted an Economic Advisory Council (EAC).

The Special Adviser to the President on Media and Publicity, Mr Femi Adesina, announced this in a statement on Monday.

According to Adesina, the eight-man council is headed by Professor Doyin Salami with Dr Mohammed Sagagi as vice chairman while the Senior Special Assistant to the President on Development Policy, Dr Mohammed Salisu, is the secretary.

READ ALSO: Ramaphosa Apologises To Nigeria Over Xenophobic Attacks

The President appointed as members, a former governor of the Central Bank of Nigeria (CBN), Professor Chukwuma Soludo, and the Managing Director/Chief Executive Officer of Financial Derivatives Company Limited, Mr Bismark Rewane.

Other members of the committee are Professor Ode Ojowu, Dr Shehu Yahaya, and Dr Iyabo Masha.

Adesina explained that the advisory council would replace the current Economic Management Team (EMT) and report directly to the President.

The Council, according to him, 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,” the statement said.

Obiano, Soludo Attend Camp Of Light Foundation Laying

The Governor of Anambra State, Willie Obiano and the former Governor of the Central Bank of Nigeria, Prof. Chukwuma Soludo on Saturday attended the  Foundation Laying Stone of Diocesan projects at the Camp of Light site, Umunya.

The Primate of the Anglican Communion, His Grace, Nicholas Okoh on the occasion warned that the church should not mortgage, bought or held to ransom by individuals who contribute financially to its growth.

See Photos Below:

Soludo, Utomi, Others Call For Nnamdi Kanu’s Release

Nnamdi Kanu, IPOB, Chukwuma Soludo, Pat UtomiA former Governor of the Central Bank of Nigeria, Professor Chukwuma Soludo, and Professor Pat Utomi, are demanding the immediate release of the leader of the Indigenous People of Biafra (IPOB), Nnamdi Kanu.

Both men spoke on Tuesday at a media briefing in Abuja under the aegis of the Nzuko Umunna, a group of Igbo professionals.

They also condemned the alleged killing of IPOB members in the southeast and urged states where the alleged killings took place to set up a panel of inquiry in their various states.

The call for Kanu’s release followed a series of protests, including that of members of the IPOB in Southeast Nigeria.

The pro-Biafra leader was arrested in Lagos on 14 October, 2015 and has been held in prison since then, despite various court orders that ruled for his release.

Justice John Tsoho of the Federal High Court in Abuja had declined to release the detainee on bail in his ruling in January 2016.

The court also denied bail to two other pro-Biafra agitators, Benjamin Madubugwu and David Nwawuisi, who are facing trial with Kanu.

The All Progressives Grand Alliance (APGA) had also called for his release, based on the court rulings which granted him bail on three occasions.

The National Chairman of APGA, Mr Victor Oye, asked the government to obey the rule of law in the prosecution of the case.