I am completely neutral and currently not rooting for any candidate. I must however explain the way power is exercised in Abuja, given my experience as CBN Deputy Gov for 10 years.
The Economic Council that the VP chairs does not exercise any power on the economy. The composition is: VP, HMF, HMP, SGF, State Govs and may be 1 or 2 other ministers. All they discuss is how to share excess crude etc. Their recommendations are still subject to the President or FED approval.
The second constitutional role is to chair National Council of Privatization. Again all actions are still subject to the approval of the President one way or the other.
The truth is that Ministers ( or even non ministers) who have access to the President are by far more powerful than the VP. Oba kii pe meji laafin, ijoye le pe mefa laafin. The Chief of Staff to the President in my view is by far more powerful than the VP.
All I am saying is that no one should hold PYO responsible for what is perceived as the inadequacies of the past 7 years.
— Tunde Lemo, former Deputy Governor, CBN
