Unstable Economy Due to Lack of Seasoned Economists in Buhari’s Cabinet – NES

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[File Photo] (L) Senator representing Abia South, also Senate Minority Leader, Enyinnaya Abaribe; (R) President of Nigeria Economic Society (NES), Professor Sarah Anyanwu.
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The Nigeria Economic Society (NES) has accused the Muhamadu Buhari-led government of lacking seasoned economists which has led the nation into an unstable state of the economy.

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

The leader of the body of professional economists in her remark stated that the unsavoury state of the economy was due to the exclusion of NES members from National Economic Management Team.

“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.”

Responding to Prof. Anyanwu’s remark, Senator Abaribe assured that 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.”

Members of the NES visiting team include Professors Peter Shibayan of the Department of Economics, University of Abuja; Eyilola Olaniyi also from the same Department, University of Abuja, amongst others.