On Monday, 16th September 2019, President Muhammadu Buhari disclosed immediate replacement of the Economic Management Team (EMT) which was hitherto, chaired by the Vice President Yemi Osinbajo with an Economic Advisory Council (EAC).
Also, the replaced EMT with the new EAC instead of Osinbajo will be chaired by Prof. Doyin Salami with other members as Dr. Mohammed Sagagi (Vice-Chairman); Prof. Ode Ojowu; Dr. Shehu Yahaya; Dr. Iyabo Masha; Prof. Chukwuma Soludo; Mr. Bismark Rewane; and Dr. Mohammed Adaya Salisu (Secretary).
The development was contained in a statement by the Special Adviser to the President on Media and Publicity, Mr. Femi Adesina who explained that this advisory council will replace the current Economic Management Team and will be reporting directly to the President.
The statement is partly read as: “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", Adeshina stated.
It further stated that 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.
