The replaced EMT was chaired by the Vice President, Prof Yemi Osinbajo.
The new EAC Buhari named on Monday had Prof Doyin Salami as the Chairman.
Other members are Dr. Mohammed Sagagi (Vice-Chairman); Prof Ode Ojowu; Dr Shehu Yahaya; Dr Iyabo Masha; Prof Chukwuma Soludo; Mr Bismark Rewane; and Dr Mohammed Adaya Salisu (Secretary).
The announcement, which was contained in a statement by the Special Adviser to the President on Media and Publicity, Mr Femi Adesina, gave details, “This advisory council will replace the current Economic Management Team and will be reporting directly to the President.
“The Economic Advisory Council (EAC) 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.
“The EAC will have monthly technical sessions as well as scheduled quarterly meetings with the President. The Chairman may, however, request for unscheduled meetings if the need arises.”