Columns

June 4, 2024

The impact of the exit of NEIC (3), by Eric Teniola

Who else but Professor Benjamin Nwabueze (2), by Eric Teniola

Professor Sam Aluko was a member, International Economic Association, member, American Economic Association, member, Royal Economic Society, member, International Association of Agricultural Economists, member, Nigerian Economic Society, member, World Council of Churches Advisory Committee on Technical Services; chairman, Election Planning Committee, Action Group Party, Nigeria, 1964-1968. 

While serving as Chairman of National Economic Intelligence Committee (NEIC), we often met in the elevator of the Federal Secretariat in Abuja, since I worked on the eleventh floor at the office of the Secretary of the Government of the Federation.

 General Sani Abacha made him a member of the Federal Executive Council and always deffered to him on Economic issues during council deliberations.  

Other members of the committee were Brig-Gen. G.A. Mohammed, a Quantity Surveyor from  Borno State who was the Secretary. The rest were Dr. Haroun Adamu (Bauchi), Dr. Dalhatu Araf (Nassarawa), Alhaji Umaru Audi (Niger) , Alhaji Musa Bello (Adamawa), Alhaji U.K. Bello (Kebbi), Mr. Walter Ekwensi (Imo), Barrister Eugene Madu (Anambra),   Princess (Mrs.) A.O. Oguneye (Ekiti), Dr. Ode Ojowu (Benue), Mr. Babatunde Sangokunle (Ogun), Alhaji Nasiru Maitama Sule (Kano), Comrade Godwin Uluocha (Abia)  “In November 1995, Mr. Walter Ekwensi died and was replaced by Mr. Donald Duke, a Barrister, from Cross River state. 

In December 1997, the Secretary, Major-General Garba Ali Mohammed was appointed the Minister of Works and Housing and in August 1998, Princess (Mrs.) A.O. Oguneye was appointed the Minister of State for Federal Capital Territory, Abuja.  In March 1999, Dr. Haroun Adamu was appointed Member/Secretary of the Presidential Policy Advisory Committee (PPAC) by the President-Elect, General Olusegun  Obasanjo. Barrister Donald Duke was elected Governor of Cross River State in January, 1999.  Both Barrister Donald Duke and Dr. Haroun Adamu resigned their appointments from NEIC as a result of their new positions.

When the committee was formed in 1994, the following were part of the committee’s responsibilities: 

Functions of the Committee

Notwithstanding the provisions of subsection (2) of section 1 of this Act, the Committee shall –

(a) analyse the annual budget and extract all economic measures requiring enforcement;

(b) work out details on the method of enforcing implementation of the annual budget;

(c) analyse the monetary guidelines issued by the  Central Bank of Nigeria (in this Act referred to as “the Bank”) and monitor the implementation of all the measures enumerated therein;

(d) monitor and identify factors inhibiting the realisation of set revenue targets such as tax evasion by individuals or association of individuals, and bodies corporate in the private and public sectors of the economy; (e) enforce the implementation of existing tax legislation; (f) assess the report on any project being carried out by the Federal Government and confirm that funds released for Federal Government projects are judiciously utilised;

(g) monitor and report to the Federal Government,  on quarterly basis, the inflationary rate, the consumer price index and such other growth indices on output, liquidity and cost of funds, transportation costs, fuel prices and other related tariffs;(h) recommend any increase or decrease of price on manufactured goods;(i) monitor the supply and demand of forex, the gap and factors affecting the market sales and indicated rates, use of forex and operation of the market;

(j) consider any issue appropriate and relevant to the subject of revenue collection; (k) give a situation report of all its activities  on quarterly basis to the Federal Government; (l) ensure that any defaulter of any of the issues mentioned above or any other matter related thereto is brought before the Federal High Court; and (m) consider such other matters as may be referred to it from time to time by the President.

To be concluded