BUHARI NOT SEEKING EMERGENCY POWERS ON ECONOMY – PRESIDENCY

The Presidency has denied media reports that President Muhammadu Buhari is seeking emergency powers to tackle the nation’s economic challenges.
The Senior Special Assistant to the Vice President on Media and Publicity, Laolu Akande, said in a statement to our correspondent late last night that the economic management team was   considering several measures to urgently reform the economy but they had not yet been communicated to the president.
The vice president’s spokesman stated that those measures had also not been passed to the Federal Executive Council and the National Assembly.
He said: “The economic management team has indeed been considering several policy options and measures to urgently reform and revitalise 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.
“As far as I know, this has not been passed on to the president, the Federal Executive Council or the legislative arm of government. So, at this point, there are no further details to share.”
A newspaper report yesterday said Buhari would be seeking emergency powers from the National Assembly to get the economy out of recession, shore up the value of the naira, create more jobs, boost foreign reserves, improve power and revive the manufacturing sector.
The report said the decision was based on a proposal from the economic team headed by Vice President Yemi Osinbajo
In the bill, the executive will be asking for the President to be given sweeping powers to, among other things,  set aside some extant laws and use executive orders to roll out an economic recovery package within the next one year.