Lagos — A 15-man Presidential Committee on the review of tariffs and fiscal incentives headed by the Kwara State Governor, Dr. Bukola Saraki has been inaugurated in Abuja.

According to a statement issued by, Mas'ud Adebimpe Chief Press Secretary to Governor Saraki, the committee, which is saddled with the responsibility of reviewing the existing tariff and fiscal incentives structures is also to recommend appropriate changes that will be supportive of growth and development of the productive sector of the nation's economy.

Its recommendations would serve as input in the design and formulation of fiscal and tariff policies for the year 2010. Members of the committee include Governors Babatunde Fashola of Lagos State, Issa Yuguda, Bauchi and Adams Oshiomhole, Edo State, Ministers of Finance and Industry as well as Chief Economic Adviser to the President.

Others are Chairman, National Economic Intelligence Council; Comptroller General, Nigerian Customs Service; Deputy Governor (Policy), Central Bank of Nigeria (CBN), President, Manufacturers Association of Nigeria (MAN), Mr. Bismark Rewane and Mazi Ohuabunwa.

The committee was set up by President Umaru Musa Yar' Adua as part of his concerted efforts to fight the global economic recession and prepare Nigeria for the challenges posed by the economic recession.

The committee settled down for business immediately after the inauguration which took place at the Kwara Lodge, Abuja.

In his inaugural speech, the Chairman of the committee, Saraki expressed appreciation to the President for considering them worthy of being appointed into such a sensitive committee of higher responsibility.

He observed that the challenges thrown by the economic recession of 2008 had compelled the nation of the world to return to the drawing board in search of strategies that will reposition them for future challenges.

According to him, no nation in the world had been insulated from the economic recession which he said, was the worse in the recent history of the world.

"This is the time for us to take coordinated and deliberate steps to remove whatever impediments there are, which has made it difficult for us to attract the right investments portfolio", Saraki said.