Economic recession: Melaye urges PMB to sack 3 officials

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The governor of the Central bank of Nigeria (CBN),
Godwin Emefiele, budget and national planning
minister, Senator Udoma Udo Udoma and minister
of finance, Kemi Adeosun
Senator Dino Melaye, representing Kogi-West
Senatorial District has called on President
Muhammadu Buhari to take drastic measures on
the ailing economy,
including the immediate sack
of the minister of finance, Kemi Adeosun, minister
of budget and national planning, Senator Udo
Udoma and the Governor of the Central Bank of
Nigeria (CBN) Godwin Emefiele.
Melaye in a statement in Abuja on Sunday,
September 4, said the president must shake up his
cabinet and accused some members of cabinet as
lacking the capacity to deliver on the mandates of
their ministries and agencies.

He said Adeosun, Udoma and Emefiele should be
axed for the economy to be effectively rebooted to
deliver on the change agenda of the present
administration.
Melaye said: “At the moment, it must be crystal
clear to all discerning minds that the President’s
widely-acclaimed magical body language has lost
its presumed aura and efficacy. His no-nonsense
demeanor is equally neither instilling fear nor
commanding respect and loyalty from among his
cabinet members.
“It is therefore obvious that the time for barking is
over; now is the time to bite and boot out all those
who have demonstrated, in the past several
months, a crass lack of capacity to effectively carry
out the functions of their office. ”

The All Progressives Congress senator, also
condemned Buhari’s economic team led by Vice
President Yemi Osibanjo, saying that “their
decisions will not be and has never been
respected by the economic managers and the
bureaucracy in Nigeria.”
On Udoma Udo Udoma, he stated: “To be sure,
Senator Udoma Udo Udoma is a very charismatic
man, an accomplished lawyer, and a quintessential
gentleman with a fairly untainted reputation. In
everyday parlance, he is a good man. But the
critical job of Budget and National Planning
Minister for a huge country like Nigeria, with her
prevailing economic challenges requires much
more than being a good man with a great
personality.”
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.
Melaye urged the President to, instead, constitute
an ‘Emergency Ad Hoc Economic Team’ made up
of all former ministers of finance, ex-ministers of
budget and national planning, ex-CBN governors
as well as members drawn from the academia with
“deep knowledge of developmental economics to
drive the economic revival programme.”

He said: “The President must immediately transit
from mere rhetoric to drastic but positive action to
save the economy and Nigeria from total collapse.
The hunger in the land is real, pervasive,
widespread and debilitating for the poor masses.”

Adeosun expressed confidence that the economy
will turn-around in no time, assuring Nigerians that
the recent slide into recession will not last long.
She however called for discipline in government
spending, even as she noted that the Nigerian
economy is long overdue for diversification.

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