Impact of the exit of National Economic Intelligence Committee (2)

As oil production increased in Nigeria in the 1970s, Professor Aluko was still inclined to support the thought that the state can be an engine of industrialisation through funding of technical education, agriculture extension and infrastructural development. With a technically literate populace, the adoption and local reproduction of technology will be feasible. In addition, introducing mechanised farming will increase the income level of commercial farmers and the taxable income of government.

His support for mechanised farming meant balanced assistance to surplus-producing commercial farmers and technical and educational assistance to small-scale farmers to become surplus-producing farmers. Small scale subsistence farmers who mostly live in the rural areas will use some the additional income to buy more affordable productive instruments. A strong believer in planning, it became important in agricultural planning for the development of a locally initiated agriculture instruments industries to save foreign exchange and produce affordable instruments for small scale farmers.

During General Ibrahim Babangida’s administration, Professor Aluko still steadfastly held on to the thought that the tiers of government had a major role to play in developing the economy. He was critical of the liberalisation prescriptions of the Structural Adjustment Programme (SAP) adopted by the government.

Aluko’s trouble with programme also extended to the multilateral institutions who made the recommendations and the Nigerian economists who followed the dictates of Western capitalist thought. He faulted the benefits of free market currency devaluation and high interest rates that came after the programme was implemented.

Aluko married his wife, Joyce Amomogha (September 20, 1934- March 5, 2021) from  Ekpoma in Esan West Local Government area of  Edo State on Valentine’s  Day in 1955. He had his education at Christ’s Secondary School, Ado Ekiti, 1942-1945, London School of Economics and Political Science, University of London, 1955-1959. Aluko became a lecturer, Nigerian College of Arts, Science and Technology, Ibadan, 1959-1962; lecturer, University of Ife,Ile- Ife, 1962-1964; senior lecturer and head, Department of Economics, University of Nigeria, Nsukka, 1964-1966; reader in Economics, 1966-67; Dean, Faculty of Social Science, University of Ife, 1968-1970; Chairman, College of Humanities, University of Ife, 1972-1973. He was appointed professor and head, Department of Economics, University of Ife, 1967; member, International Economic Association, member, American Economic Association, member, Royal Economic Society, member, International Association of Agricultural Economists, member, Nigerian Economic Society, member, World Council of Churches Advisory Committee on Technical Services; and Chairman, Election Planning  Committee, Action Group Party, Nigeria, 1964-1968.

While serving as Chairman of National Economic Intelligence Committee (NEIC), we often met in the elevator of the Federal Secretariat in Abuja, since I worked on the eleventh floor at the office of the Secretary to the Government of the Federation.

General Abacha made him a member of the Federal Executive Council and always differed to him on Economic issues during council deliberations.

Other members of the committee were Brig-Gen. G.A. Mohammed, a Quantity Surveyor from  Borno State who was the Secretary. The rest were Dr. Haroun Adamu (Bauchi), Dr. Dalhatu Araf (Nassarawa), Alhaji Umaru Audi (Niger) , Alhaji Musa Bello (Adamawa), Alhaji U.K. Bello (Kebbi), Mr. Walter Ekwensi (Imo), Barrister Eugene Madu (Anambra), Princess (Mrs.) A.O. Oguneye (Ekiti), Dr. Ode Ojowu (Benue), Mr. Babatunde Sangokunle (Ogun), Alhaji Nasiru Maitama Sule (Kano), and Comrade Godwin Uluocha (Abia)

In November 1995, Ekwensi died and was replaced by Mr. Donald Duke, a Barrister, from Cross-River
State.

In December 1997, the Secretary, Major-General Garba Ali Mohammed was appointed the Minister of Works and Housing and in August 1998, Princess Oguneye was appointed the Minister of State for Federal Capital Territory, Abuja.  In March 1999, Dr. Adamu was appointed Member/Secretary of the Presidential Policy Advisory Committee (PPAC) by the President-Elect, General Olusegun Obasanjo. Barrister Duke was elected Governor of Cross River State in January, 1999.  Both Duke and Adamu resigned their appointments from NEIC as a result of their new positions.

When the committee was formed in 1994, the following were part of its responsibilities: Functions of the Committee
Notwithstanding the provisions of subsection (2) of section 1 of this Act, the Committee shall –

(a) analyse the annual budget and extract all economic measures requiring enforcement;

(b) work out details on the method of enforcing implementation of the annual budget;
(c) analyse the monetary guidelines issued by the Central Bank of Nigeria (in this Act referred to as “the Bank”) and monitor the implementation of all the measures enumerated therein;

(d) monitor and identify factors inhibiting the realisation of set revenue targets, such as tax evasion by individuals or association of individuals, and bodies corporate in the private and public sectors of the economy;

(e) enforce the implementation of existing tax legislations; as well as

(f) assess the report on any project being carried out by the Federal Government and confirm that funds released for government projects are judiciously utilised;

(g) monitor and report to the Federal Government on quarterly basis, the inflationary rate, the consumer price index and such other growth indices on output, liquidity and cost of funds, transportation costs, fuel prices and other related tariffs;

(h) recommend any increase or decrease of price on manufactured goods;

(i) monitor the supply and demand of forex, the gap and factors affecting the markets sales and indicated rates, use of forex and operation of the market;

(j) consider any issue appropriate and relevant to the subject of revenue collection;

(k) give a situation report of all its activities on quarterly basis to the Federal Government; (l) ensure that any defaulter of any of the issues mentioned above or any other matter related thereto is brought before the Federal High Court; and (m) consider such other matters as may be referred to it from time to time by the President.

Powers of the Committee.
The Committee shall have power to- (a) invite any person, group of persons or body corporate to appear before it; (b) call for memoranda from any person, association of individuals or bodies corporate, whether public or private; (c) ask for copies of reports, audited accounts or such other information as may be required for the purposes of the Committee and in whatever manner if deems fit from any person or association of individuals and body corporate whether public or private; as well as, (d) monitor any matter to the extent that it affects the functions of the Committee; (e) enforce foreign exchange regulations and cause offenders to be prosecuted; and (f) enter and inspect premises, project sites and  such other places as may be necessary for the purposes of carrying out its functions under this Act.
Directives by the President

The President may give to the Committee such directives as appear to him to be just and proper for the effective discharge of the functions of the Committee under this Act.

It shall be the duty of the Committee to comply with any directives given pursuant to subsection (1) of this section.

Any decision reached by the President in accordance with this Act, shall be final and binding and notwithstanding the provisions of the Constitution of the Federal Republic of Nigeria 1979, as amended, no suit or legal action in any court of law or tribunal shall be filed against any person for any act done or intended to be done in pursuance of any decision of the President.
To be continued.