The Emir of Kano, Malam Muhammadu Sanusi II, has commended President Muhammadu Buhari for constituting an Economic Advisory Council (EAC) comprising first-rate professionals and academics.
Sanusi gave the commendation on Wednesday in Kano while briefing newsmen at his Palace, NAN reports.
Buhari on Monday replaced the Economic Management Team with the EAC.
The replaced EMT was chaired by the Vice President, Prof.Yemi Osinbajo. The new EAC has Prof. Doyin Salami as its chairman.
The emir, who described the new council as “first class”, said the move was “timely and reflective of Buhari’s determination to re-energize the management of the economy”.
He said Nigerians were highly desirous of such an effective and knowledge-driven team to provide the lead on the economic front.
According to him, the beauty of the team, apart from the pedigree of its members, is their private sector experience and their independence.
“If you look at the system we operate, if you also look at the United States, every US president always has a council of economic advisers.
“One of the reasons you have this council is you want independent academics who are able to give you frank and honest advice on how to run the economy and address its problems.
“What the president has done is to follow that pattern to appoint a team of highly respected professionals to advise him, especially this time when we have economic problems, fiscal issues.
“When the global economy is facing uncertainty due to trade wars, it is important that the president has a piece of high quality advice,” he said.
Sanusi said that advisers and economists praise things done positively and recommend areas of improvement.
According to him, the team put together is fantastic, as he has worked with most of them at different times.
“I have not been critical of government economic policies, what I have always done is to say the things that they have done right and offer advice to things that need to be done,” he said.
The royal father said that the team was balanced with the combination of Charles Soludo, Mohammed Sagagi, Doyin Salami, and Shehu Yahaya, who are highly respected professionals.
“We have experts in different fields; monetary policy, fiscal policy, development, and financial markets. It’s a good step in the right direction,” he said.SA