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There are fears that the presidency may yet again be plying another dangerous trajectory it took in 2015 when his first term was inaugurated on May 29.
Recall that President Muhammadu Buhari waited for almost six months before appointing his ministers after inauguration in 2015 and that singular act created avoidable administrative gap that pushed the economy into recession in early 2016.
Counting from Wednesday, May 29, 2019, today, Wednesday, June 26, 2019 marks the fifth Wednesday, in which the Federal Executive Council (FEC) meeting cannot hold because the ministers that are expected to seat down and review happenstances in the country ranging from economy to security, budget, education, and so many other critical issues of national importance that keep the economy alive are yet to be appointed and cleared by National Assembly.
Considering provisions of existing administrative rule of engagements, there are lots of pending memos that are in need of ministerial approvals which cannot be handled by Permanent Secretaries in ministries.
There are series of hanging Federal Government contracts that need one or two reviews or even release of funds for actions. All these are hanging on waiting for the appointment of ministers.
Analysts say as the pile of works for yet to be named new ministers gathers dusts, the economy is slipping gradually into another recession.
This is getting to over one month the 2019 budget was signed into law, but there are yet no ministers to implement the budget and a lot of foreign investors or even local investors are waiting to see how the 2019 budget will be driven to take final investment decision.
Recently, President Muhammadu Buhari carried out a management shakeup at the nation’s cash cow without any form of input from the currently nonexistent FEC.
Besides, all presidential aides who according to legal experts ought to have taken leaves on May 28, 2019 like the former ministers are still at the Presidential Villa.
On Monday, the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, made it clear that the Nigerian economy is still fragile and susceptible to shocks both local and external, but there is minister of Finance to give such strategic information who needs it most so as to take critical corresponding fiscal policy position.
Some observers say the statement that Nigeria economy is still fragile is a wakeup call on the Presidency to act fast in constituting his cabinet to save the country from another recession.
Recalling how regularly the former Minister of Transportation visits ongoing rail scheme from Lagos to Ibadan before the dissolution of the last cabinet, one wonders who does that visitation and monitoring of the handling contractor in the last more than one month.
Nationwide insecurity crisis is eating deep into the fabrics of the states and there is no Minister of Defence to issue security directives.
There are so many issues begging for attention to avoid getting worst in the country.
Pundits say even if the National Assembly went on recess after their inauguration, there remains a window and understanding that even if the presidency sends a list of ministers during recess, for national interests, Senators can cut short their recess to attend to urgent national issues like screening and confirming ministers.
From any angle of the prism, no doubt, the delay in forming a national cabinet is really frustrating several businesses and social life of the nation and something needs to be done fast by the presidency.

Buhari polls

By Business Hilights

Business Hilights is an online news channel conceptualized and structured to report and track on a daily basis; latest developments in critical business sectors to serve as a one stop news gateway for governments, foreign and indigenous investors.

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