The Center for the Promotion of Private Enterprise founded by the immediate past Director General of the Lagos Chamber of Commerce and Industry, Muda Yusuf, has commended President Muhammadu Buhari for the appointment of Dr Doyin Salami as his Chief Economic Adviser.
But the economic think tank has mapped out ten areas the new economic adviser must focus to reshape the Nigerian economy.
Buhari on Tuesday appointed Salami as his economic adviser barely one year to the end of his tenure as the president.
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Salami was until his new appointment, the Chairman of the Presidential Economic Advisory Council (PEAC).
The CPPE said in a statement sent to THE WHISTLER that the choice of Salami signals the aspiration of the President’s effort to reset the economy and correct some glaring distortions that have been undermining investors’ confidence over the last couple of years.
CPPE said Salami must focus on the “Institution of a market based foreign exchange policy framework to correct current distortions bedeviling the foreign exchange market. This would ensure the normalization of the foreign exchange market and unlock capital inflows into the economy.
“Propose a sustainable mix of policies to stem the intense inflationary pressures in the economy.
“Ensure effective coordination between the fiscal and monetary policies. Ensure synergy between key economic and investment ministries and agencies to ensure policy and regulatory coherence.
“Infuse a general equilibrium mindset in the policy making processes to ensure a broader comprehension of the impact of economic policies. Promote the reduction of fiscal deficit monetisation because of the profound inflationary outcomes.
“Promote 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.
“Foster 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.”