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From Juliana Taiwo-Obalonye, Abuja
President Muhammadu Buhari has noted that despite the disruptions in global economy and internal troubles, the Nigerian economy has continued to be resilient and maintains an upward trajectory.
He, however noted, that some of the problems could be addressed internally, making the constitution of the seasoned economic experts expedient.
According to a statement by Special Adviser on Media and Publicity, Femi Adesina, Buhari said this at the inauguration of the Presidential Committee on the National Economy on Friday. Buhari said the COVID-19 pandemic, the war in Ukraine and the loss of substantial volumes of oil have had negative impacts on the Nigerian economy.
President Buhari, however, assured Nigerians that despite these hiccups, necessitating borrowings from financial sources, the current administration remains committed to the welfare of the citizens, especially the implementation of the Social Investment Programmes.
According to him, “while citizens concern about borrowing is well understood, our resort to borrowing must also be appreciated in the context of the resources required to deliver on the infrastructure, health and other socio-economic needs of our citizens.” Presentations were made at the event by Chief Economic Adviser to the President, Dr Doyin Salami, Ministers of Finance, Budget and National Planning, Mrs Zainab Ahmed, Industry, Trade and Investment, Niyi Adebayo, as well as Mr Godwin Emefiele, Governor, Central Bank of Nigeria. Governor of Sokoto State, Aminu Tambuwal, represented Chairman of the Governors Forum.
The Presidential Committee on the Economy is chaired by President Muhammadu Buhari and has as members the Vice President, Yemi Osinbajo; Dr. Kayode Fayemi, Chairman of the Nigeria Governors Forum; Dr. Mrs. Zainab Ahmed, Honourable Minister for Finance, Budget, and National Planning; Otunba Niyi Adebayo, Honourable Minister for Industry, Trade and Investment; and Chief Timipre Sylva, Honourable Minister of State for Petroleum.
Other members include Mr. Boss Mustapha, Secretary to the Government of the Federation; Prof. Ibrahim Gambari, Chief of Staff to the President; Mr. Godwin Emefiele, Governor of the Central Bank of Nigeria and Dr. Mohammed Sagagi, Vice Chairman of the Presidential Economic Advisory Council. The Chief Economic Adviser to the President, Salami, is Member/Secretary of the Committee.
