The Presidency has debunked reports in the media that President
Muhammadu Buhari is seeking emergency powers to tackle the nation’s
economic challenges. It, however, stated that the economic management
team was considering several measures to urgently reform the economy,
but is yet to communicate the measures to the President.
This was contained in a statement issued on Monday night by the
Senior Special Assistant to the Vice President on Media and Publicity,
Laolu Akande, who added that those measures had also not been passed to
the Federal Executive Council, FEC, and the National Assembly.
A national daily had reported that the President would be seeking
emergency powers from the National Assembly to get the economy out of
recession, shore up the value of the naira, create more jobs, boost
foreign reserves, improve power and revive the manufacturing sector. It
added that the decision was based on a proposal from the economic team
headed by Vice President, Yemi Osinbajo
But reacting to this, Osinbajo’s spokesman said: “The economic
management team has indeed been considering several policy options and
measures to urgently reform and revitalise the economy. Some of these
measures may well require legislative amendments and presidential orders
that will enable the executive arm of government move quickly in
implementing the economic reform plans.
“As far as I know, this has not been passed on to the president, the
Federal Executive Council or the legislative arm of government. So, at
this point, there are no further details to share.”
Credit: Daily Post
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