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RECESSION: President Buhari Heeds Sanusi's Advice; 'Dumps' VP Osinbajo-Led Economic Team, Summon Economic Experts

Following candid advice offered by the Emir of Kano, Muhammad Sanusi II, President Muhammadu Buhari may have looked beyond the National Economic Team led by Vice President Yemi Osinbajo and has summoned experts and analysts to an “economic war room” to save the economy from prevailing challenges.

The Emir of Kano, Muhammad Sanusi II, has called on Federal Government ‎to seek the advice of economic experts in tackling the current economic crisis in the country.

Mr. Sanusi gave the advice on Wednesday during the traditional Sallah Durbar (Hawan Nasarawa) at the Government House, Kano.‎

As reported by TheCable, major economists were billed to  converge on Intercontinental Hotel, Lagos, on Thursday morning, to have a policy dialogue on the current foreign exchange regime.

The dialogue, which was to be hosted by British High Commission and the Nigerian Economic Summit Group (NESG), was cancelled at the last minute.

According to one of the organisers, the panelists for  the dialogue, were summoned by the president to an “economic war room for saving the economy”.

The dialogue was to be attended by stakeholders from the Central Bank of Nigeria (CBN), ministry of trade, ministry of finance, Bank of Industry (BoI), SMEDAN and Nigerian customs, private sector groups like business owners and consumer protection groups.

Earlier, Muhammad Sanusi II, emir of Kano, and Matthew Kukah, Catholic Bishop of Sokoto diocese, called on the government of President Muhammadu Buhari ‎to seek the advice of experts in tackling the current economic crisis, and ‎refrain from giving excuses.

“We didn’t vote a government to complain about yesterday. If we wanted yesterday, the new government would not be there. It is really about taking responsibility. No matter how much you praise or abuse Jonathan, he is not the president of Nigeria,” Kukah had said.

Kukah also urged Buhari to engage constructively with Nigerians on the state of the economy and seek feasible plans out of current economic challenges.

On August 31, the National Bureau of Statistics (NBS) confirmed the depth of Nigeria’s economic recession, with Vice President Yemi Osinbajo, asking Nigerians to keep calm as the government was working of saving the economy.

The reports by NBS show millions of Nigerians unemployed and over 20 million unwilling to work. The presidency says it is awaiting the return of the national assembly to execute its borrowing plans.

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