Governors oppose NASS on cabinet rejig; express support for Udo-Udoma and Adeosun
Fri Sep 23, 2016 08:05:am National
2.5K By Buchi Obichie
At the National Economic Council (NEC) meeting which held yesterday,
Governors expressed their support for members of President Buhari's
cabinet, and disagreed with the leadership of the National Assembly over
their call for the redeployment or outright removal of two ministers
for their inability to effectively manage the economy, which had since
slipped into recession.
It will be recalled that many of the outspoken senators, fresh from their vacation, on Wednesday, had called for the outright sack or redeployment of the Minister of Budget and National Planning, Senator Udoma Udo Udoma, and his Finance counterpart, Mrs. Kemi Adeosun, who are saddled with the task of managing the ailing economy as a means of expediting its recovery from recession.
But rising from the NEC meeting presided over by the Vice President, Professor Yemi Osinbajo, the Governors expressed support for the plans and proposals of the Federal Government to steer the country out of recession.
The Governors endorsed the work of the President's Economic Management Team and specifically commended the Ministers of Budget and National Planning, and Finance; whilst also acknowledging the current economic challenges facing the nation.
According to one Governor, they (the NEC members) were convinced that Nigeria's economic crisis was not caused by the two Ministers but by failing oil price, the only major source of income.
The NEC members appeared to have been impressed with the presentation by the two ministers pointing to crucial steps being taken by the Federal Government to re-jig the economy and end the suffering of Nigerians.
Udoma had revealed, among others, that the economy slipped into recession due to the nation's over-dependence on oil, which price the country had no control over but expressed optimism that the crisis was an opportunity for restructuring and resetting the economy for growth and development.
According to him, ‘‘the President's EMT is working on a number of strategies to generate immediate larger injection of funds into the economy through asset sales, advance payment of licence renewals, infrastructure concessioning and use of recovered funds to reduce funding gaps as well as fast-track procedures through legislation and implementation of strategic plan of the budget.''
NEC is composed of Governors of all 36 states of the federation, and the Central Bank Governor. The Vice President is the Chairman of the council.
It will be recalled that many of the outspoken senators, fresh from their vacation, on Wednesday, had called for the outright sack or redeployment of the Minister of Budget and National Planning, Senator Udoma Udo Udoma, and his Finance counterpart, Mrs. Kemi Adeosun, who are saddled with the task of managing the ailing economy as a means of expediting its recovery from recession.
But rising from the NEC meeting presided over by the Vice President, Professor Yemi Osinbajo, the Governors expressed support for the plans and proposals of the Federal Government to steer the country out of recession.
The Governors endorsed the work of the President's Economic Management Team and specifically commended the Ministers of Budget and National Planning, and Finance; whilst also acknowledging the current economic challenges facing the nation.
According to one Governor, they (the NEC members) were convinced that Nigeria's economic crisis was not caused by the two Ministers but by failing oil price, the only major source of income.
The NEC members appeared to have been impressed with the presentation by the two ministers pointing to crucial steps being taken by the Federal Government to re-jig the economy and end the suffering of Nigerians.
Udoma had revealed, among others, that the economy slipped into recession due to the nation's over-dependence on oil, which price the country had no control over but expressed optimism that the crisis was an opportunity for restructuring and resetting the economy for growth and development.
According to him, ‘‘the President's EMT is working on a number of strategies to generate immediate larger injection of funds into the economy through asset sales, advance payment of licence renewals, infrastructure concessioning and use of recovered funds to reduce funding gaps as well as fast-track procedures through legislation and implementation of strategic plan of the budget.''
NEC is composed of Governors of all 36 states of the federation, and the Central Bank Governor. The Vice President is the Chairman of the council.
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