FG inaugurates new Economic Management Team today

2 Comments » February 1st, 2009 posted by // Categories: Nigeriawatch



 

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FG inaugurates new Economic Management Team today

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By Everest Amaefule

 

Published: Monday, 2 Feb 2009

 

The Federal Government will today inaugurate the new Economic Management Team, which was recently reconstituted by President Umaru Yar’Adua.

Our correspondent gathered that the immediately after the inauguration, the team, chaired by the Minister of Finance, Dr. Mansur Muhtar, would have its first meeting in Abuja.

Other members of the team are Minister of National Planning Commission, Dr. Shamsuddeen Usman, Minister of Power, Dr. Rilwanu Babalola; Minister of State for Finance, Mr. Remi Babalola; Chief Economic Adviser to the President, Dr. Taminu Yakubu; and Deputy Governor (Economic Policy) of the Central Bank of Nigeria, Dr. Sarah Alade.

Also named in the reconstituted economic management team are the Permanent Secretary of the Federal Ministry of Finance, Mr. Steve Orosaiye; Director-General, Budget Office of the Federation, Dr. Bright Okogu; former Deputy Governor of CBN and Director Centre for Policy and Economic Research, Dr. Obadiah Mailafia, and Chairman of Stanbic IBTC Bank, Mr. Atedo Peterside.

Others are: Dr. Doyin Salami of the Lagos Business School; chairman of the National Economic Intelligence Committee; president of the Nigerian Economic Society; and a representative of the Federal Ministry of Petroleum.

Usman, Babalola, Alade, Orosaiye and Okogu were part of the old economic management team.

Among those who were part of the old NEMT but were dropped from the new team are the Executive Chairman of the Federal Inland Revenue Service, Mrs. Ifeuko Omoigui-Okauru; Director-General of the Bureau of Public Enterprises, Mrs. Irene Chigbue; and Director-General of Debt Management Office, Dr. Abraham Nwankwo.

A letter signed by the Finance Minister and addressed to the members of the reconstituted team read, “As you would recall, His Excellency, President Umaru Yar’Adua recently announced a new framework for responding to the global economic crisis.

“The Presidential Committee on Global Economic Crisis, which is the apex of the new institutional arrangement for responding to the global economic crisis as well as the implementation of the 7-Point Agenda, was inaugurated on Thursday, January 15, 2009.

“As a complement to the PSCGEC, Mr. President has endorsed the reconstitution of the new NEMT and the Technical Working Groups. A reinvigorated and reconfigured NEMT is expected to provide the Federal Government and the PSCGEC with detailed analysis and advice on the design and execution of policies.

“The TWGs will feed the NEMT with research-based analyses and forecasts as well as options based on sound analytics.”

While inaugurating members of the PSCGEC, President Yar’Adua, who also chairs the committee, had tasked them to assess the impact of the global economic crisis on Nigeria with particular reference to the nation’s annual budget, financial and commodity markets.

The presidential steering committee is expected to identify more practical measures aimed at shoring up the confidence of investors and increasing production in the real sector.

It would also recommend appropriate macro-economic policy responses that can further stimulate the economy; and examine other related issues, such as unemployment, poverty reduction, food availability and ensuring a sustainable debt position.

 

 

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2 Responses to “FG inaugurates new Economic Management Team today”

  1. ige says:

    innugurating committee is not the problem but the politicisation of these committies which at the end briging in uncompleted projects, i therefore suggest the nomination of experts(nigerian) who have interest in the public opinion rather than their own interest.
    -dayo ige

  2. ige says:

    innugurating committee is not the problem but the politicisation of these committies which at the end briging in uncompleted projects, i therefore suggest the nomination of experts(nigerian) who have interest in the public opinion rather than their own interest.
    -dayo ige

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