Osinbajo Presides over National Economic Council Meeting

Pat Stevens/

Vice President Yemi Osinbajo is currently presiding over a meeting of the National Economic Council.

This was disclosed by his Senior Special Assistant on Media and Publicity, Laolu Akande, in a tweet some minutes ago.

His tweet read: “VP Osinbajo now presiding over the monthly National Economic Council, NEC, meeting with State Govs, CBN Gov & some members of the FEC. NEC is the constitutional body that advises the President on the coordination of economic affairs of the Nigerian Federation.”

This meeting is the second since the inauguration of President Muhammadu Buhari’s cabinet for the second term.

The NEC meeting, held monthly, deliberates on the coordination of the economic planning efforts and economic programmes of the various levels of government.

The council comprises the 36 state governors, the governor of Central Bank of Nigeria, minister of finance, Secretary to the Government of the Federation and other government officials and agencies whose duties hinge on the economy.

Today’s meeting is coming on the heels of the dissolution of the Osibajo-led Economic Management Team and its replacement with the Prof Doyin Salami-led Economic Advisory Council, which was announced by the Presidency on Monday.

Other members are 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).

Buhari further directed that the new EAC would report directly to him.

“The Economic Advisory Council 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 Presidency had stated.

The development has led to insinuations in some quarters that there were deliberate attempts at whittling down the vice president’s growing influence in the Presidency ahead of the 2023 presidential election.

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