The Director-General of the Manufacturers Association of Nigeria (MAN), Muda Yusuf has on Tuesday commended President Muhammadu Buhari for constituting the Economic Advisory Council.
Muda, in a statement made available to newsmen, said the formation was timely and reflected Buhari’s determination to re-energise the management of the economy.
The statement of the DG reads in part, “The news of the formation of an Economic Advisory Council is both timely and commendable. 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.”
It added that the beauty of this team, apart from their pedigree, was their private sector/citizen composition and their independence.
It stated, “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.”
The MAN urged the EAC to do a critical and comprehensive review of the current policy initiatives ‘that drive the actions of government and immediately do the needful to harmonise the outcomes and craft an agenda that will guide the management of the economy going forward.”
MAN suggested that the EAC should work in tandem with the proposed National Action Committee on the African Continental Free Trade Agreement.
Describing the AfCFTA as the most pressing preoccupation of continental economic actors in Africa, it stated the right composition of the committee would augur well for the right synergy with the council to boost Nigeria and Nigerians’ chances of being net gainers in the continental free trade area.
Recall that the president on Monday replaced the Economic Management Team with the EAC.