Buhari’s cabinet lacks economic expertise ― Nigeria Economic Society

A body of professional economists, the Nigeria Economic Society (NES) has attributed the parlous state of the economy and the attendant dwindling fortunes of Nigerians to the absence of season economists in the cabinet of President Muhammadu Buhari.

President of Nigeria Economic Society (NCS), Professor Sarah Anyanwu, made the claim on Tuesday during a courtesy visit on the senator representing Abia South and Senate Minority Leader, Enyinnaya Abaribe.

She argued that the exclusion of NES members from National Economic Management Team was responsible for the unsavoury state of the economy.

“Members of the Nigeria Economic Society (NES) had in the past been included in the National Economic Management Team for the required professional advice and guidance on whatever economic policy to be adopted by the federal government.

“The practice assisted the past government in making sound economic policies required by circumstances or situations on the ground.

“But the exclusion of economists in the National Economic Team under the present administration has glaringly shown the adverse effects on the economy which by those who can read the indices and indicators correctly, is nose-diving.

“Our exclusion from the NEMT is seriously making the Nation’s economy to be unstable and somewhat directionless.”

Professor Anyanwu further maintained that various Ministries, Department and Agencies, MDAs were not patronising the NES for required expertise and capacity training of staffers.

She, however, requested the National Assembly to expedite action on consideration and passage of the Bill the NES forwarded to both chambers early in the year.

Senator Abaribe in his response said the National Assembly would give expeditious passage to the Bill.

“We are not surprised that the economy went into recession and moving towards that direction again, since as disclosed here, required knowledge from the experts are not even sought for.”

On the Entourage of the NES team, were Professors Peter Shibayan of the Department of Economics, University of Abuja, Eyilola Olaniyi also from the same Department, University of Abuja, amongst others.

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