Former Presidential Spokesman Laolu Akande applauded President Bola Tinubu on Friday for the inauguration of the Economic Advisory Committee.
Mr Akande made this statement during the ‘My Take segment’ of the weekly TV programme, ‘Inside Sources,’ which aired on Channels Television. However, he observed that the inauguration alone was not sufficient.
According to him, for the proper and smooth running of the country’s economy, the President should, as a matter of urgency, establish a visible Economic Management Team and appoint a Chief Economic Adviser.
On Sunday, the President formed an Economic Advisory Committee comprising representatives from the Federal Government, Sub-Nationals, and the Private Sector. This development occurred amidst the challenges of a falling naira exchange rate, rising inflation, and other economic headwinds that continue to worsen the cost of living crisis.
Prominent private sector members on the committee include the Chairman of United Bank for Africa, Tony Elumelu, the Chairman of Dangote Group, Aliko Dangote, and the Chairman of the Bua Group, Abdul Samad Rabiu, among others. Governors such as Governor Chukwuma Soludo and Governor Dapo Abiodun were also present at the meeting with the President last Sunday.
While commending the President for assembling the committee, Akande emphasized that the role of an economic advisory committee should not be confused with that of an Economic Management Team.
He stated, “Recall that last week, in one of our segments on Inside Sources, we raised the issue of the need for an active and visible Economic Management Team for the Federal Government. Interestingly, on Sunday, Mr. President invited some top private sector players and government officials, resulting in the formation of a new tripartite economic advisory committee. The President is taking steps to address concerns in the polity regarding hardship.”
Akande raised concerns about the absence of representatives from MSMEs and small businesses at the meeting. He also stressed the importance of having a Chief Economic Adviser in the Villa, advising the President on day-to-day economic matters and regularly communicating with the Nigerian people, which he believed has not happened.
Moreover, Akande highlighted the need for effective communication from leaders at both federal and state levels as committees and plans are put in place. He emphasized that leaders must avoid sending conflicting signals to the people, especially during times of agitation and frustration.
He pointed out a recent inconsistency where the Federal Executive Council revived the 2012 Oronsaye Report, presenting it as a significant cost-cutting attempt. However, simultaneously, a leaked memo from the Villa revealed the President’s plan to visit Qatar with a delegation of almost 40, contradicting the earlier announcement that the number would not exceed 20.
In conclusion, Akande asserted that such behavior by the government would not diminish distrust between leaders and the people, and leaders must exercise the duty of care by avoiding conflicting messages and effectively communicating their actions and plans.
