Mohammed Shosanya
The Nigerian Economic Summit Group (NESG) has inaugurated its National Economic Advisory Council to strengthen its mission of fostering an open, inclusive, sustainable, and globally competitive Nigerian economy.
The Council consists of distinguished economic experts with significant research experience in African and Nigerian economic issues,a statement said on Sunday.
According to the statement,the Council will convene quarterly to receive briefings on the Nigerian economy, deliberate on key findings and challenges, and provide strategic advice to the NESG on short, medium, and long-term economic policy advocacy.
Besides,the Council will hold an annual retreat to evaluate and refine the NESG Research Agenda and assess its impact on NESG’s advocacy and reform activities.
Commenting,NESG Chairman, Niyi Yusuf, emphasised the urgency of inaugurating the Council in light of ongoing economic challenges such as the rapid implementation of fuel subsidies and exchange rate reforms, food insecurity, declining living standards and poor Human Capital Development (HCD) indicators, among others.
He said: “Nigeria has encountered various economic and political obstacles in recent years, underscoring the urgent need to redesign its systems and address structural issues.
“One of Nigeria’s pressing concerns is translating economic growth into improved lives and livelihood of all its citizens.
“Despite experiencing growth, the country grapples with income disparity, multi-dimensional poverty and working poverty.
“These challenges are worsened by an uneven allocation of resources, macroeconomic instability, and institutional deficiencies.”
He highlighted the role of the Council, comprising some of the most brilliant and experienced minds, in guiding the NESG on the evolving economic development philosophies, policy frameworks, and approaches that align with its mission.
“With your support, the NESG will continue to lead the charge in economic policy advocacy, fostering an environment where the private sector can thrive and contribute to the nation’s development.
“We are deeply grateful and I express my deepest appreciation to each of you for accepting this invitation to serve and drive meaningful change that can shape the future of our economy,” he said.
The new council members include: Professor Osita Ogbu, Co-Chair; Dr. Mohammad Sagagi, Co-Chair; Dr. Friday Kanu Ohunche; Professor Risikat Oladoyin Dauda, Professor of Economics, University of Lagos; Dr. Yemi Kale, Group Managing Director, Research and Trade Intelligence & Group Chief Economist at the African Export-Import Bank; Professor Jonathan Aremu, Professor of International Economic Relations; Dr. Aloysius Uche Ordu, Professor Ummu Ahmed Jalingo and Dr. Adedoyin Salami.
