Presidency explains rational behind private sector exclusion from EMT

THE Federal Government of Nigeria FGN has explained that the reason for the exclusion of private sector from the current economic management team was because it is the government’s responsibility to manage the economy.

Laolu Akande
Laolu Akande

Senior special assistant to Vice-President Yemi Osinbajo Laolu Akande, who spoke in Abuja on Thursday, however quickly pointed out that the private sector has not been totally excluded from the team, headed by the Vice-President, Yemi Osinbajo.
“we have not totally excluded the private sector.

Laolu Akande
Laolu Akande
For instance, we meet on a constant basis with Manufacturers Association of Nigeria (MAN). There have also been meetings with arms of the economic sector of the country. There have been meetings with the Nigerian Economic Summit Group (NESG) and some other economic interests with companies, making presentations.”

According to him, the Manufacturers Association of Nigeria (MAN), the Nigerian Economic Summit Group (NESG), and other stakeholders, had been engaged by the government at different times.

“We have to understand that the attitude of this presidency is to consider the management of the economy as a government responsibility,

“It is not something that this government believes should be done by bringing in some of the private interests into the economic team to take a decision that they will be directly involved with.

“But generally, this thing is a government team and the team has been able to set out before the budget trying to figure out what the budget ought to focus on. After the budget was presented and eventually signed, there was also the publication of the strategic implementation plan which was produced in a reader friendly format.

“All of these are the outcomes of what economic management team does and it is also in the team that you have the heap of the whole physical and monetary policy and don’t forget that the monetary policy is always the duty and responsibility of the Central Bank which is an economic arm of government.”

Source: Globa Village Extra

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