President Muhammadu Buhari on Tuesday explained why he recently constituted an Economic Advisory Council (EAC) to replace the Economic Management Team headed by the Vice President, Yemi Osinbajo. In his State of the Nation Address to commemorate the nation's 59th independence anniversary, the President said the purpose of the council was to advise him on inclusive and sustainable macroeconomic, fiscal and monetary policies.
According to him
“I recently constituted an Economic Advisory Council to advise me on inclusive and sustainable macroeconomic, fiscal and monetary policies.
“This independent body will work with relevant Cabinet members and the heads of key monetary, fiscal and trade agencies to ensure we remain on track as we strive for collective prosperity.
“However, we are also committed to ensure that the inconvenience associated with any painful policy adjustments, is moderated, such that the poor and the vulnerable, who are most at risk, do not bear the brunt.”
He appealed to state governors to intensify efforts toward instilling greater fiscal transparency and accountability and to ensure greater fiscal efficiency and optimum use of our very scarce resources.
“The blight of Corruption is fighting back. Nevertheless, this is a battle that we shall see-through and this is a war, which we shall win by the Grace of God.
“The policies that we are putting in place today are to ensure such criminal and unpatriotic acts do not go without consequences. Our renewed partnership with the 9th National Assembly will facilitate the swift passage of enabling laws that will institutionalize these anti-corruption efforts in our criminal justice system.
“I will also call upon all Nigerians, from every walk of life, to combat Corruption at every turn. By choosing to question and confront corrupt practices, by reporting unethical practices or through whistleblowing. Together, we can overcome corruption and will no longer be a country defined by corruption”
Buhari's clarification is coming after commentators claimed that the establishment of the EAC was to whittle down the powers of the Vice President following ongoing cold war between them.
