Economic Council endorses sale of national assets

The Nation2016_09_23_80655al Economic Council (NEC) which met at the State House, Abuja yesterday expressed support for the plans and proposals of the Federal Government to steer the country out of recession.

The NEC advises the President on eco­nomic affairs and measures necessary for the coordination of the economic plan­ning in the country.

A statement issued by the presidency after the meeting, which was chaired by Vice-President Yemi Osibajo, said the Council equally endorsed the work of the President’s Eco­nomic Management Team (EMT) which he also chairs.

The EMT is work­ing on plan to gener­ate immediate larger injection of fund into the economy through “asset sales, advance payment of license renewals, infrastruc­ture concessioning, and use of recovered funds etc to reduce funding gaps.

Others are imple­mentation of Fiscal Stimulus/Budget Pri­orities; fast-tracking procedures through legislation and im­plementation of Stra­tegic Implementa­tion Plan (SIP) of the budget; meaningful diversification of the economy and cutting down importation.

The NEC meeting, which had many state governors in attend­ance, was reported to have specifically com­mended the Budget & Planning Minister, Udoma Udo Udoma; and Finance Minis­ter, Kemi Adeosun.

Udoma and Adeo­sun had a day ear­lier come under fire over their handling of the current eco­nomic challenges of recession, by some senators, particu­larly Deputy Senate President Ike Ekwer­emadu and Senator Dino Melaye, who demanded the redeployment or sack of the two ministers.

”Council members in response com­mended the Eco­nomic Management Team and generally welcomed the pres­entation and ex­pressed support for the plan to steer the nation out of reces­sion

”Council members expressed confidence in and unanimous­ly commended the EMT and both the Budget & National Planning and Fi­nance Ministers for the presentations to the Council, praising their efforts, compe­tence and capabili­ties”, said the state­ment.

Governors Abuba­kar Bagudu (Kebbi) and Abiola Ajimo­bi (Oyo) as well as Deputy Governor of Ogun State, Yetunde Onanuga briefed journalists after the NEC meeting.



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