The Institute of Directors Nigeria welcomes with commendation, the recent constitution of an Economic Advisory Council by President Muhammadu Buhari, GCFR. There is no gainsaying that this development is auspicious and timely at this stage of the country's search for economic stability.
The Institute noted with delight the composition of the Council, which is made up of qualified and experienced technocrats, who are tested, committed and patriotic Nigerians and have exhibited the expertise required to provide the needed economic direction for the country.
If this process is well managed and the Council is allowed to independently execute its mandate and Government gives adequate attention to the interventions from the Council, there is no doubt that this development will engender sustainable economic development for the country.
The Institute noted with delight that the Council's Terms of Reference includes advising the President on economic policy matters, including fiscal analysis, economic growth and a range of internal and global economic issues, while working with the relevant cabinet members and heads of monetary and fiscal agencies.
As the professional body for Directors in Nigeria, IoD Nigeria, has taken a very keen interest in this new development and will work with all relevant stakeholders, on behalf of the Directors and Business Leaders to monitor and evaluate the outcomes and impact of this great initiative of the Federal Government for the overall benefit of Nigerians and businesses.
Consequently, the Institute of Directors Nigeria, will also activate a process of engaging with the government towards ensuring that the objectives of putting the EAC in place are fully realized.