Amateurs are killing Nigeria’s economy - NES tells Senate

The Nigeria Economic Society (NES), yesterday, October 6, 2020, declared that the nation’s economy was being destroyed due to non-inclusion of its members in the National Economic Management Team (NEMT).

Its President, Professor Sarah Anyanwu, who was accompanied by professors Peter Shibayan and Eyilola Olaniyi of the Department of Economics, University of Abuja, made the assertion during a visit to the Senate Minority Leader, Enyinnaya Abaribe.

They insisted that amateurs were destroying the nation’s economy, adding, “Nigeria’s economy is nose-diving because those handling it had little or no experience and knowledge of the economy.”

Their visit followed indications that the National Assembly might enact a law to, among other things, compel President Muhammadu Buhari to appoint its members into the NEMT.

Senators present during the visit expressed surprise at the disclosure that NES leadership was not carried along in the appointment of persons into the NEMT.

They said they were not surprised at the parlous state of the nation’s economy since those managing it have little or no knowledge of how to revive the economy.

Lamenting the exclusion of NES members in NEMT under the President Buhari-led government, Anyanwu said since the exclusion of NES members from the team, the economy has been faltering.

“Members of NES had in the past been included in the NEMT for the required professional advice and guidance on economic policies the Federal Government should adopt.

“This practice assisted past governments to make sound economic decisions and formulate policies required during peculiar circumstances or situations,” she stated.

Responding, Abaribe and senators Emmanuel Bwacha, George Sekibo, Sahabi Yau and Chukwuka Utazi, said they were not surprised at the parlous state of the nation’s economy.

They, however, assured the NES members that expeditious consideration would be given to their bill, which is already before the National Assembly.