The Presidency has once again denied media reports that President Muhammadu Buhari is seeking emergency powers to tackle the nation’s economic challenges. Reports indicated that the President was seeking sweeping powers to, among other things, set aside some extant laws and use executive orders to roll out an economic recovery package within the next one year.
This was communicated by the Senior Special Assistant to the Vice President on Media and Publicity, Laolu Akande, who said that the President’s economy team was considering several measures to urgently reform the economy but they had not yet been communicated to the president.
“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.”
Nigeria’s media space has been abuzz with reports of President Buhari seeking emergency powers from the National Assembly in order 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.
The report said the decision was based on a proposal from the economic team headed by Vice President Yemi Osinbajo