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Osinbajo, Economic Team discuss review of new forex regime, others

By Levinus Nwabughiogu

ABUJA — In a bid to find urgent solution to the current economic recession in Nigeria, Vice President Yemi Osinbajo, yesterday, met with members of the Economic Management Team.

The meeting, which held at the Presidential Villa, Abuja, suggested that the new foreign policy exchange be reviewed.

Some members of the team include Professor Yemi Osinbajo, Vice President as chairman; Senator Udoma Udo Udoma, Minister of Budget and National Planning; Mrs Kemi Adeosun, Minister of Finance; Okechukwu Enelamah, Minister of Trade, Industry and Investment; Godwin Emefiele, Governor of the Central Bank of Nigeria, CBN; and Director-General of Debt Management Office, DMO.

Others are Dr. Oluyemi Dipeolu, Special Adviser on Economic Matters; Audu Ogbeh, Agriculture Minister; Lai Mohammed, Information Minister; and permanent secretaries.

While the meeting deliberated on the draft of the Medium Term Economic Framework for 2017-2019, the team also suggested that there had to be massive infrastructural spending, with active private sector participation, ensure pro-people economic policies, increase the supply of dollars to the forex market, among other issues, to reflate the economy.

Speaking at the forum, Vice President Osinbajo said government would continue to engage experts on the way forward.

Osinbajo, who noted that the economic situation was currently bad but that greater opportunities still abound, said:  “We will continue to engage with experts and other stakeholders so we can measure progress of the economic policies that have been put in place.”


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