CPPE lauds SALAMI’s appointment : Sets Agenda

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CPPE lauds SALAMI’S appointment :
* Sets Agenda

* Tells FG to address port congestion crisis, cargo clearing constraints

The Centre for Promotion of Private Enterprise (CPPE), an economic and private sector think- tank, applauds the appointment of Dr Doyin Salami as the Chief Economic Adviser to the President.

The Chief Executive Officer of CPPE, Dr
MUDA YUSUF, made this known while setting agenda for the Chief Economic Adviser.

Dr YUSUF also calls for urgent
fixing of the port congestion crisis, cargo clearing constraints and traffic gridlocks along the Lagos ports corridor.

He advised Dr Salami to
foster a regime of trade facilitation culture among agencies at the nation’s ports, and encourage a review of the Cash Reserve Requirement for better financial intermediation in the banking system.

According to him :
“Dr Salami is bringing to this position a pedigree of intellectualism and robust knowledge of the nexus among sound economic principles, macroeconomic stability, investment growth and welfare of the citizens.

” Though coming rather late in the life of the administration, it is a fitting appointment nonetheless. It is worthy of note that Dr Doyin Salami is the current Chairman of the Presidential Economic Advisory Council.”

He added :
“His appointment perhaps signals the aspiration of President Buhari to reset the economy and correct some glaring distortions that have been undermining investors’ confidence over the last couple of years. It is imperative to refocus economic management strategy for growth, efficiency, productivity, sustainability and inclusion.

“However, the impact of the appointment would be felt only to the extent that his advice and that of the economic advisory council are adopted and implemented to shape the course of monetary, fiscal and regulatory policies, as well drive vital reforms”.


His words : “The CPPE looks forward to the espousal of the following policy pathways to ensure a quick reset of the Nigerian economy for accelerated recovery and growth.
Institution of a market based foreign exchange policy framework to correct current distortions bedevilling the foreign exchange market. This would ensure normalization of the foreign exchange market and unlock capital inflows into the economy.

“Sustainable mix of policies to stem intense inflationary pressures in the economy.
Ensuring effective coordination between fiscal and monetary policies.
Ensuring synergy between key economic and investment ministries, agencies to ensure policy and regulatory coherence.

“Infusing a general equilibrium mindset in the policy making processes to ensure comprehension of the impact of economic policies.
Promoting reduction of fiscal deficit monetisation because of the profound inflationary outcomes.

“Promoting the philosophy of a level playing field for all investors in the economy.”

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