Nigerian Economy Under Buhari Directionless – Economic Society

President Muhammadu Buhari presiding over a Federal Executive Council meeting at the State House, Abuja, Wednesday, September 23, 2020. Photo credit(Bashir Ahmad, Personal Assistant on New Media to Buhari)
Nigerian Economy Under Buhari Directionless - Economic Society - Vantage News Nigeria
President Muhammadu Buhari

The Nigerian Economic Society on Tuesday condemned the government of President Muhammadu Buhari over its handling of the economy, which it said was directionless and unstable.

The President of the NES, Prof Sarah Anyanwu, made the lamentation when she led members of the society on a visit to the Senate Minority Caucus.

She regretted that Buhari’s government excluded economists from its economic management team.

She noted that because of the exclusion of economists from the team, the economy is nose-diving.

Also, she said that that members of the NES were in the past included in the economic management team for the required professional advice and guidance on whatever economic policy the Federal Government adopted.

She said, “The practice assisted past governments in making sound economic policies required by circumstances or situations on ground.

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

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

Aside being excluded from the NEMT, the NES president lamented that the various ministries, departments and agencies were not patronising members of the society for required expertise and capacity training of their staff.

She, however, called on the National Assembly to expedite actions on consideration and prompt passage of the bill which NES forwarded to both chambers early in the year.

Responding, the Senate Minority Leader, Enyinnaya Abaribe, said he was not surprised by the terrible state of the nation’s economy since those managing it had little or no knowledge on how to make it vibrant.

Abaribe said, “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 is not being sought by the government”

But he assured the NES members that their bill which is already before both chambers of the National Assembly, would be considered.

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