NES Debunks Report Describing Economy Under Buhari As Unstable, Directionless

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The Nigerian Economic Society (NES) has debunked media reports that its president, Professor Sarah Olanrewaju Anyanwu, described the country’s economy under the Muhammadu Buhari administration as unstable and directionless.

Addressing journalists at a media briefing in Abuja yesterday, the NES President Prof Sarah Anyanwu said she was determined to correct the misrepresentation of facts and misleading report in a national daily of Wednesday, October 7, 2020.

NES made a presentation to Senate Minority Leader Enyinnaya Harcourt Abaribe during a visit on October 6, insisting that her briefing to Sen Abaribe was clear and her oral addition did not include what was published.

The Nigerian Economic Society hereby rejects and disclaim the PUNCH news report titled: ‘Nigerian Economy Unstable, Directionless Under Buhari’, in its entirety, and disassociates itself from not only the headline but also its contents.

“I did not grant any interview to any other newspaper editor or reporter and I am at a total loss as to the source of the erroneous information attributed to me and my team in some of the dailies,” she said.

The NES president said: “The NES dissociates itself from the claim that the Nigerian economy is unstable and directionless under Buhari as such quote did not emanate from the society or its president.

The economist pointed out that the essence of the meeting was to solicit the inclusion of more “economists in various Teams to promote growth and development to avoid Nigeria going into recession” especially at the time when the world is grappling with coronavirus pandemic.

The Nigeria Economic Society (NES) has also demanded for the inclusion of economist to the various technical teams from the Federal Government in order to promote economic growth and development.

According to the NES President, putting enough economists in the technical teams would prevent the country from going into recession.

furthermore, she stated that the Economic Recovery and Growth Plan (ERGP) is a Medium-Term Plan for 2017 – 2020. The ERGP that was put in place will expire by December 2020 and that NES is represented in the Central Working Group of the ongoing Medium-Term Development Plan (MTDP).

“However, NES as a Professional Body is not represented in the Presidential Economic Advisory Council as was the case with the Former National Economic Management Team (NEMT).”

She said this is very crucial as it would engender wider consultations with the professionals for inputs on economic policy formulations since all hands must be on deck to avert the economy going into recession.

Also stating that a major factor of the visit to the Senate Minority Leader Sen Abaribe was to seek the assistance of the “Minority Leader to consider and pass the NES Bill when it is finally submitted to the NASS,” adding that “the Bill is in the draft form and currently being worked on,” contrary to what was reported.

“The Society holds in high esteem the strong partnership between it and the government and looks forward to a better, stronger, and closer continuous working partnership,” she said.


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A discreet, disciplined and purpose driven young man who is passionate about Human capital development, He is a graduate of Economics from Veritas University Abuja and an Associate member of The Nigeria Economic Society NES. Email:

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