Deeply worried by the poor state of the economy, a federal lawmaker, Senator Dino Melaye (APC Kogi West) has called on President Muhammadu Buhari to take urgent and drastic measures, including the immediate sack of three prominent members of his Economic Team as the solution-precedent to reboot the ailing economy.
In a Statement in Abuja Sunday, Melaye said the President must shake up his Cabinet, and accused most of the members of gross incompetence, inexcusable ineptitude and a distressing lack of capacity to deliver on the mandate of their ministries/Agencies.
Those to face the axe immediately if the economy must be effectively rebooted include the Minister of Finance, Kemi Adeosun, Budget and National Planning Minister, Senator Udoma Udo Udoma and the governor of the Central bank of Nigeria (CBN), Mr Godwin Emefiele.
“The Finance Minister has not only displayed gross incompetence on the Job, she also lacks the basic and rudimentary grasp of economic fundamentals necessary to run a critical sector of the Nigerian economy like the Finance Ministry. It is time for her to go now and pave way for a qualified and experienced person to steer the Nigerian economy away from the dark woods it has sunk presently under her stewardship".
On Udoma Udo Udoma, he stated : "It is for someone with the relevant qualification, professional knowledge and experience in public sector finance, development economics, strategic thinking, budgetary planning and management. As a lawyer, accomplished in this field as he is, Udoma's appointment to that position is nepotism taken to very ridiculous heights; and a classic case of putting round pegs in square holes-it will, and can never fit. It is akin to saddling a carpenter with a tailor's responsibility. The outcome under the circumstances, as has become evidently clear, is bound to be catastrophic for the economy. President Buhari must therefore do the needful now by relieving Udoma of this huge burden that is constituting a clog to the revival of the Nigerian economy", the lawmaker declared.
On the CBN governor, Senator Melaye pointed to his disastrous handling and release of the so-called Dasuki-gate funds which amounts to about 15 per cent of the nation's foreign reserves, policy flip-flops, summersaults and inconsistencies as clear evidence of gross incompetence in the management of the nation's fiscal and monetary policies. The net effect of this inconceivable ineptitude on the part of Emefiele, according to Melaye is the free fall in the value of the naira and the total loss of faith and confidence by the international community on the Nigerian economy.
To reverse this trend, Melaye says President Buhari must muster the courage to wield the big stick and give Emefiele the boot, to be replaced by a fiscal and monetary policy guru.
In a Statement in Abuja Sunday, Melaye said the President must shake up his Cabinet, and accused most of the members of gross incompetence, inexcusable ineptitude and a distressing lack of capacity to deliver on the mandate of their ministries/Agencies.
Those to face the axe immediately if the economy must be effectively rebooted include the Minister of Finance, Kemi Adeosun, Budget and National Planning Minister, Senator Udoma Udo Udoma and the governor of the Central bank of Nigeria (CBN), Mr Godwin Emefiele.
“The Finance Minister has not only displayed gross incompetence on the Job, she also lacks the basic and rudimentary grasp of economic fundamentals necessary to run a critical sector of the Nigerian economy like the Finance Ministry. It is time for her to go now and pave way for a qualified and experienced person to steer the Nigerian economy away from the dark woods it has sunk presently under her stewardship".
On Udoma Udo Udoma, he stated : "It is for someone with the relevant qualification, professional knowledge and experience in public sector finance, development economics, strategic thinking, budgetary planning and management. As a lawyer, accomplished in this field as he is, Udoma's appointment to that position is nepotism taken to very ridiculous heights; and a classic case of putting round pegs in square holes-it will, and can never fit. It is akin to saddling a carpenter with a tailor's responsibility. The outcome under the circumstances, as has become evidently clear, is bound to be catastrophic for the economy. President Buhari must therefore do the needful now by relieving Udoma of this huge burden that is constituting a clog to the revival of the Nigerian economy", the lawmaker declared.
On the CBN governor, Senator Melaye pointed to his disastrous handling and release of the so-called Dasuki-gate funds which amounts to about 15 per cent of the nation's foreign reserves, policy flip-flops, summersaults and inconsistencies as clear evidence of gross incompetence in the management of the nation's fiscal and monetary policies. The net effect of this inconceivable ineptitude on the part of Emefiele, according to Melaye is the free fall in the value of the naira and the total loss of faith and confidence by the international community on the Nigerian economy.
To reverse this trend, Melaye says President Buhari must muster the courage to wield the big stick and give Emefiele the boot, to be replaced by a fiscal and monetary policy guru.
