Manufacturers  set agenda for  Economic Advisory Council 

Less than 24 hours after President Muhammadu Buhari announced his Economic Advisory Council (EAC), the manufacturers Association of Nigeria (MAN) has lauded President Muhammadu Buhari’s decision to make the council consist of majorly private sector individuals.

This is even as the group urged the EAC to do a critical and comprehensive review of the current policy and initiatives that drive the actions of government and immediately do the needful to harmonize the outcomes and craft an agenda that will guide the management of the economy going forward.

In a chat with journalists, Director-General of MAN, Mr Segun Ajayi Kadiri stated that the news of the formation of an Economic Advisory Council is both timely and commendable.

According to Mr. Kadiri, “This, by far, is a clear demonstration of the determination of Mr. President to re-energize 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.

“The beauty of this team, apart from their pedigree, to my mind, is its private sector/citizen composition and the independence that comes with it. They are not shackled with the bureaucracy of government and hopefully the political interference and correctness of our clime. They are more likely to be receptive to a wide range of opinions and innovations, even if deferring from the norm.

“I think that they should do a critical and comprehensive review of the current policy initiatives that drive the actions of government and immediately do the needful to harmonize the outcomes and craft an agenda that will guide the management of the economy going forward. We have quite a number of them, principally, the NIRP, ERGP, PEBEC and the 2020-2022 Medium Term Fiscal Framework and Fiscal Strategy.

“The EAC is coming in the heels of the promised National Action Committee on AfCFTA. The AfCFTA is unarguably the most pressing preoccupation of continental economic actors in African. The right composition of the Committee will augur well for the right synergy with the Council to boost our chances of being net gainers in the continental free trade area. We eagerly look forward to this prospect.

“Again, the fact that the EAC will have monthly technical sessions, as well as scheduled quarterly meetings with the President, may guarantee the attention of government and implementation of their advice.”