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.
Reports had stated
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.
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