The Centre for the Promotion of Private Enterprise (CPPE), an economic and private-sector think tank, has applauded the appointment of Dr Doyin Salami as the Chief Economic Adviser to President Muhammadu Buhari.
The think-tank also set a number of agendas it expects Dr Salami to follow while in office.
Dr Salami, CPPE said in a statement signed by its Chief Executive Officer (CEO), Dr Muda Yusuf, “is bringing to the position a pedigree of intellectualism and robust knowledge of the nexus between sound economic principles, macroeconomic stability, investment growth and the welfare of the citizens.
“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.”
CPPE, however, emphasised that 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.
The think-tank said it expects the chief economic adviser to focus on a 10-point agenda it has set for him, which include the institution of a market based foreign exchange policy framework to correct current distortions bedevilling the foreign exchange market and proposing a sustainable mix of policies to stem the intense inflationary pressures in the economy.
Others include ensuring the effective coordination between the fiscal and monetary policies; ensuring synergy between key economic and investment ministries and agencies to ensure policy and regulatory coherence; infusing a general equilibrium mindset in the policy-making processes to ensure a broad comprehension of the impact of economic policies; promoting the reduction of fiscal deficit monetisation because of the profound inflationary outcomes.
The agenda also covers promoting the philosophy of a level playing field for all investors in the economy; fixing the port congestion crisis, cargo clearing constraints and traffic gridlocks along the Lagos ports corridor; fostering a regime of trade facilitation culture among the agencies at our ports and encourage a review of the Cash Reserve Requirement for better financial intermediation in the banking system.
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