Buhari Inaugurates National Economic Council, Calls For Courage To Survive Economic Woes

Buhari Inaugurates National Economic

Council, Calls For Courage To Survive

Economic Woes

By Tajudeen Balogun, Head, African Examiner,

Nigeria Bureau – President Muhammadu

Buhari has urged members of the National

Economic Council (NEC) to ensure that the

country surmounts enormous challenges

facing it, by working to support the incoming

economic policies, to grow Nigerian economy

and finance her external promises.

Mr. President while speaking Monday at the

inauguration of the body at the Presidential

Villa Abuja, observed it was evident that the

“task of ensuring growth, job creation and

equity, is quite enormous”, stressing that

government must kick-start the identified

process by cultivating a culture of prudent

management of resources at all levels.

This, President Buhari stated would entail

looking inwards to secure sustainable ways of

increasing Internally Generated Revenue (IGR);

and harnessing growth potentials of each

State to supplement the Federation Account

allocation to States.

In order to complement Federal Government

efforts, the President encouraged States to

embark on projects that would meet

immediate needs of the people “taking

account of available resources”. He therefore

urged the Council members to consider, as a

matter of urgency, exploring efficient means of

gradually liquidating all unpaid salaries of

staff, which have brought untold hardship to

thousands of families.

President Buhari who recalled as he promised

during his inauguration over a month ago,

opened up that his administration was fully

committed to embarking on sustainable

visionary initiatives and programmes that

would restructure and transform the national

economy.

“We are also committed to ensuring

collaboration and facilitation of the

International efforts to combat threats of

cross-border terrorism, sea piracy, refugees,

Internally Displaced Persons (IDPs), financial

crimes, cyber-crimes, climate change; the

spread of communicable diseases and other

challenges of the 21st century” Mr Promised

pledged.

He noted that the Council meetings have over

the years, been very constructive and

productive, while the key outcomes as well as

recommendations translated into Government

policies at the Federal and state levels.

President Buhari affirmed “This has not only

facilitated national economic planning, but

also lead to over- all political harmony. It is

also reassuring to note that steps have been

taken in the past to strengthen the

effectiveness of the Council in its role as

prime adviser on developments in the

economy. This process must be geared up

substantially especially in the difficult times

that we have now found ourselves”.

In this regard, Mr. President tasked the

National Planning Commission to continue

working to arrive at workable consensus on

Government policies among the various tiers

of Government, which he said was a

prerequisite for sustained growth and

development.

President Buhari emphasized on cooperation

from all parties, as he also recalled, as a

former Governor, it was important the

neighbouring states cooperate closely on

projects such as interstate and feeder roads,

soil erosion, desertification and other

developmental programmes, asserting that

the country was one and “we who have the

responsibility to run it” must lead by

example.

“As far as is possible there should be

distance between politics and development

programmes” the President cautioned.

The Federal Government, Buhari pledged

would abide by the provisions of Sections 80

and 162 of the Constitution and ensure more

accountability, transparency and integrity in

the Distribution of the Federation Account.

In achieving this, the number one citizen said:

“All Revenue Generating Agencies such as

Nigeria National Petroleum Corporation

(NNPC), Nigeria Customs Services (NCS),

Federal Inland Revenue Services (FIRS),

Nigeria Ports Authority (NPA), Central Bank of

Nigeria (CBN), Nigeria Maritime

Administration and Safety Agency (NIMASA)

and Liquefied Natural Gas (LNG) amongst

others shall comply with stipulated Financial

Regulations and Administrative Instructions in

their remittances into the Consolidated

Revenue Fund”.

On Insurgency, President Buhari restated that

the Nigerian Armed Forces have shown

renewed commitment and made steady

progress in the fight against Boko Haram. He

reminded that Nigeria, under the auspices of

the Lake Chad Basin Commission and the

Republic of Benin was collaborating with the

Republics of Niger, Chad, Cameroun and

Benin to consolidate cross-border and

international efforts at eradicating the

insurgency.

President Buhari equally expressed delight

that following his invitation to Germany early

in the month by the G7 Nations who have

shown concern about the Insurgency and

promised to intervene to restore the

destroyed infrastructure, schools and

hospitals amongst others; he, in addition has

directed the affected States of Borno, Yobe

and Adamawa to “articulate realistic

assessments, costs, locations on Local

Government by-Local-Government of affected

facilities for submission to the President of

the G7 for further verification.

“In addition, the requirements of the Military

have been prepared by the Service Chiefs for

the consideration of the G7 Nations” Mr.

President informed.

The President while thanking and wishing his

Vice, Professor Yemi Osinbajo and members

of the NEC success in their task, reiterated

that the expectations was high that the body

was considered as a veritable source of

articulating policies and programmes that

were people centered, as well as capable of

driving further, “the expected growth and

development of the country” as well as

providing enabling environment required for

progress.

NEC was established by the provisions of the

Constitution of the Federal Republic of Nigeria

(1999), as amended, Third Schedule, Part I,

Section 153: Sub section (18 & 19). It is one

of the Federal Executive bodies, with the

mandate to advise the President concerning

the economic affairs of the Federation, and in

particular on measures necessary for the co-

ordination of the economic planning and

programmes of the various Governments of

the Federation.

     Nigeria's President Muhammadu Buhari