The presidency has announced the constitution of an Economic Advisory Council (EAC) that included former governor of the Central Bank of Nigeria [CBN], Professor Chukwuma Soludo, and Mr. Bismarck Rewane.

A statement by President Muhammadu Buhari ’s media adviser, Femi Adesina, said the EAC has Professor Doyin Salami as chairman.

Other members are Dr. Mohammed Sagagi, Vice-Chairman, Prof. Ode Ojowu, Dr. Shehu Yahaya and Dr. Iyabo Masha.

Dr. Mohammed Adaya Salisu, an SSA to the President on development policy will serve as secretary.

The advisory council will replace the Economic Management Team (EMT) and will report directly to the President.

Adesina said the EAC will advise the President on economic policy matters including fiscal analysis, economic growth and a range of internal and global economic issues. The EAC will work with the relevant cabinet members and heads of monetary and fiscal agencies.

The EAC will have monthly technical sessions as well as scheduled quarterly meetings with the President.

The Chairman may, however, request for unscheduled meetings if the need arises.