PRESIDENT Goodluck Jonathan yesterday inaugurated the nation's Economic Management Team (EMT), charging them to combine their individual strengths to generate ideas and initiatives that will transform every sector of Nigerian life and society, particularly the economy.
Jonathan, who described the inauguration as "the beginning of an exciting collective journey in our attempt to strengthen the Nigerian economy", explained that the EMT has the task of giving Nigeria "greater fiscal discipline, a continuously improving framework to support local and international investors, and effective macro-economic and monetary policies."
He also charged them to "fast-track the implementation of the medium term plan in line with our commitment to the realization of the Vision 2020 aspirations. Our people want to see improvements not only in terms of reduced inflation, higher economic growth and economic diversification but also in job creation, better school enrolment, improved access to health care and a more sustainable environment. They want regular and sustainable electricity supply, higher purchasing power, social infrastructure, and in every sense, this is all about the economy."
The President said that the emphasis "should be one of inclusive growth and employment generation. Economic growth should necessarily translate into measurable benefits for our people."
Jonathan had after the swearing-in of Dr. Ngozi Okonjo-Iweala as Coordinating Minister for the Economy and Minister of Finance last Wednesday announced the composition of the EMT.
The membership of the body include President (chairman), Vice President (vice chairman), Dr. Okonjo-Iweala (Co-ordinating Minister), two serving Governors - Peter Obi of Anambra State (Honourary Presidential Adviser on Finance) and Murtala Nyako of Adamawa (Honourary Presidential Adviser on Agriculture), the Ministers of National Planning, Trade and Investment, Power, Petroleum Resources, Agriculture, Works, Education, Health, State for Finance and Health are also in the team.
Also on the list is the Governor of Central Bank of Nigeria, the President's Chief Economic Adviser, Special Adviser on Performance, Monitoring and Evaluation, Directors-General of Budget, Debt Management Office, Bureau for Public Enterprises, Infrastructure Concession and Regulatory Commission as well as the President of the Nigerian Economic Society (Honourary Adviser on Economy) and Mr. Atede Peterside.
Jonathan reiterated that "the EMT is set up to coordinate the rapid growth of our economy and not to take over the responsibility of managing the various ministries under the leadership of the individual ministers. The success or failure of any ministry in attaining the goals we have set is therefore dependent on the leadership of the ministry headed by the minister and supported by the permanent secretaries.
"I want to be able to assure Nigerians at every turn, that in the next four years we will make this country proud. Our task is to ensure that the country records unprecedented economic progress and our citizens see clear improvements in the quality of their lives."
And set to prune down the over 400 federal government parastatals and agencies, Jonathan also yesterday inaugurated the Committee on the Restructuring and Rationalization of Federal Government Parastatals and Agencies.
He said the restructuring and rationalisation was to ensure efficiency and reduce the cost of governance.
The Presidential Advisory Council (PAC) formerly chaired by Lt. Gen. Theophilus Danjuma (rtd) had in January, 2011 submitted a memorandum on the effective and optimal management of national resources opting for restructuring and rationalizing the number of non-ministerial agencies.
This was to eliminate overlap, duplications and redundancies.
The Federal Government then set up an adhoc committee to review previous reports and records on the subject and proffer advice on the Restructuring of Federal Government Parastatals and Agencies.
The committee noted that "there were indeed duplications and overlaps in the mandates and responsibilities of the Parastatals and Agencies" and recommending the setting up of a broader committee to carefully examine the enabling Acts of the Federal Parastatals, Agencies and Commissions and identify all areas of overlap and duplication of functions with a view to their eventual rationalization.
Jonathan, while inaugurating the committee at the Council Chambers of the Presidential Villa Abuja, noted that "these Parastatals and Agencies were established to speedily implement government projects and programmes without the usual encumbrances of the bureaucracies. However, over the years, government has set up too many of such parastatals with overlapping functions thereby leading to inefficiencies and wastages."
He stated that his government attach "great importance to this committee's assignment in view of the financial implications of maintaining a Federal bureaucracy with over 400 parastatals and agencies."
The committee has eight weeks to submit its report.
The Guardian