Presidency denies reports of seeking broader powers to tackle economic crisis

The presidency on Monday denied news reports that President Muhammadu Buhari was seeking emergency powers from the National Assembly in order to tackle the lingering economic crisis in the country.

In a statement by the Special Assistant to the Vice President on Public Affairs, Laolu Akande, said an economic management team set up to propose solutions to the economic crisis had only recently concluded its assignment but had not passed the recommendations to Mr. Buhari for actions.

But he admitted the team’s recommendations may require “legislative amendments and presidential orders”.

“The Economic Management Team has indeed been considering several policy options and measures to urgently reform and revitalize the economy. Some of these measures may well require legislative amendments and presidential orders that will enable the Executive arm of government move quickly in implementing the economic reform plans,” Mr. Akande said.

“As far as I know, this has not been passed on to the President, the Federal Executive Council or the Legislative arm of government.”

Different news reports had on Monday quoted presidential sources as saying that the Buhari administration was seeking, among other requests, the suspension of extant laws governing some aspects of the economy from the National Assembly.

The government has come under increasing pressure as Nigerians struggle daily with hardship inflicted on them by a raging economic crisis.