TheCable

President Muhammadu Buhari, on Thursday, received a briefing from the economic advisory council (EAC) at a meeting which held at the presidential villa, Abuja.

According to Garba Shehu, senior special assistant to the president on media and publicity, the team led by Doyin Salami, chairman of the council, outlined a number of challenging opportunities facing the economy and proffered solutions to most of them.

The team identified the lack of synergy between ministries, departments and agencies of government as a factor delaying delivery of set economic goals.

It noted that the lack of coordination leads to “working largely at cross purposes”

The council also discussed their views on borrowing, macroeconomic stability and the need to provide a friendly climate for foreign investment.

“The council raised concerns that the rate of the growth of the economy is slower than the rate the country’s population is growing; the need to strengthen national statistical agencies; reform procurement processes; improve education; and the need for job planning in training offered by academic institutions, ” the statement said.

“We need an environment that will attract investment. People will come only when they feel confident and when they come, their exit will not be challenging.”

The council also resolved to focus on legacy projects by the administration before 2023.

The statement said based on the recommendations of the council, Buhari directed Boss Mustapha, secretary to the government of the federation, to immediately address the observed lapses in coordination between ministries and all agencies of government.

It also said the president accepted that the EAC should now brief him at least once every six weeks, instead of once every quarter.

It quoted the president as saying that the lack of synergy between ministries, departments and agencies would no longer be accepted.

“We are working for the country, not for personal interests. We have the same objective of service to the people and we will resolve this,” Buhari said.

“I am highly pleased based on what I have read in your Executive Summary with the painstaking thoroughness of your preliminary report. I have noted the salient points of your report and these will be incorporated in government economic policies.”

On the challenges facing the economy, the president noted that “the economy is the most delicate and sensitive of all aspects of national life.

Buhari thanked the members for their patriotism and commitment in accepting the “challenging responsibilities” conferred on them.

The council was constituted in September to replace the economic management team (EMT) headed by Vice-President Yemi Osinbajo.