TheCable

President Muhammadu Buhari has been absolved of all liabilities tied to the emergency economic bill, which seeks to concede more powers to the president.

In a statement issued late on Monday night, Laolu Akande, special assistant to the vice president on media and publicity, confirmed the existence of the policy draft but said Buhari had not received it.

“The Economic Management Team has indeed been considering several policy options and measures to urgently reform and revitalize the economy,” the statement read.

“Some of these measures may well require legislative amendments and presidential orders that will enable the Executive arm of government move quickly in implementing the economic reform plans.

“As far as I know, this has not been passed on to the President, the Federal Executive Council or the Legislative arm of government. So at this point, there are no further details to share.”

The bill, which seeks to by-pass some extant laws to allow for stimulating the economy, has faced rounds of support and rejection, as the presidency seek to revive the economy.

Nigeria is reported to be in a technical recession, which according to Atedo Peterside, founder of Stanbic Bank, “may be long and deep”.

The federal government claims to be conferring with economists in bringing the nation out of the recession in the quickest possible time.