Members of the economic advisory council are currently in a closed-door meeting with President Muhammadu Buhari at the State House in Abuja.
This meeting is the first since the inauguration of the advisory council.
President Buhari last month replaced the Economic Management Team, headed by Vice President Yemi Osinbajo, with the Economic Advisory Council which is mandated to report directly to him.
The eight-man council is headed by Professor Doyin Salami with Dr Mohammed Sagagi as vice chairman while the Senior Special Assistant to the President on Development Policy, Dr Mohammed Salisu, is the secretary.
The President appointed as members, a former governor of the Central Bank of Nigeria (CBN), Professor Chukwuma Soludo, and the Managing Director/Chief Executive Officer of Financial Derivatives Company Limited, Mr Bismark Rewane.
Other members of the committee are Professor Ode Ojowu, Dr Shehu Yahaya, and Dr Iyabo Masha.
The Council will advise the President on economic policy matters, including fiscal analysis, economic growth and a range of internal and global economic issues working with the relevant cabinet members and heads of monetary and fiscal agencies.