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Experts Dismiss Tinubu’s Economic Team As Flawed

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Some economic experts have picked holes in the composition of the economic team set up by President Bola Tinubu, describing it as flawed.

Tinubu, on Wednesday, approved the establishment of the Presidential Economic Coordination Council (PECC) and the Economic Management Team Emergency Taskforce (EET) to tackle the prevailing economic challenges in the country.

The PECC is made up of President Bola Tinubu as Chairman and Vice President Kashim Shettima as Vice Chairman.

Other members are, President of the Nigerian Senate, Chairman, Nigeria Governors’ Forum, Coordinating Minister for the Economy and Minister of Finance, Governor of the Central Bank of Nigeria and other relevant Ministers.

The council will also have some members of the organized private sector, joining for a period not exceeding one (1) year, subject to the President’s directive

They are Alhaji Aliko Dangote, Mr. Tony Elumelu, Alhaji Abdulsamad Rabiu, Ms. Amina Maina, Mr. Begun Ajayi-Kadir among others.

But economic experts who spoke with Daily Trust on Thursday said the composition was flawed, saying it was composed of stakeholders with vested interests.

A Professor of Economics and the Director, Centre for Economic Policy Analysis and Research, at the University of Lagos, Ndubisi Nwokoma, argued that a professional body such as the Nigeria Economic Society would have made a greater impact in the committee.

He said: “The composition of that team is somewhat flawed because these are stakeholders who all have interest in the economy. If you bring in people who have interest, they would protect their own interest; they would protect their own businesses.

“They would be thinking of policies that actually would favour them, nobody would go into a discussion that would work against him.

“I think bringing professional bodies like the Nigerian Economic Society, these are purely intellectuals, people that don’t have any stake who are not business men, who are just looking at the contextual issues and looking at the direction of government and find out where the government ought to take the economy to and what should be done to get there.”

He expressed concern that the country’s economy has been consumption based, saying: “In terms of where the economy should go, I think fundamentally we have gotten it wrong as a country, I think we need to look at the fundamental issues in terms of the structure of the economy.”

Also speaking, Professor Adeola Adenikinju of the Department of Economics, University of Ibadan and Vice President of the Nigerian Economic Society (NES) while hailing the composition of the committee as timely, however raised issues with its composition.

According to him, the committee is composed of largely government assisted people, who are going to benefit from the expected policies they are coming up with.

“Every government needs to have a body of experts to advise them on the efficacy of policies put in place and what are the new policies to ensure the economy works better.

“In terms of the composition, the intellectuals, the experts who are working in this area are not there. What you see are largely government assisted people who are interested in one contract or the other. So they are not going to be neutral in terms of the advice they are going to give. There is a likelihood that they would want to protect their interest. You don’t have lecturers; you don’t have the Nigerian Economic Society, who are on the intellectual side of the society,” he submitted.

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2027: Wike, Soludo, Adeleke Listed in APC’s Revised Presidential Campaign Council

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The All Progressives Congress (APC) has named Nyesom Wike, Minister of the Federal Capital Territory (FCT); Ademola Adeleke, Osun State governor; and Chukwuma Soludo, Anambra State governor, as campaign coordinators in its expanded presidential campaign council for the 2027 general election, despite their affiliations with other political parties.

Wike belongs to the Peoples’ Democratic Party (PDP), Soludo is a member of the All Progressives Grand Alliance (APGA), while Adeleke won re-election as Osun governor in 2026 under the Accord Party.

Under the new arrangement, Wike will coordinate the APC campaign in Rivers State and the FCT, Soludo will oversee Anambra, while Adeleke will coordinate the campaign in Osun.

The expanded list is scheduled for inauguration by President Bola Tinubu at the Presidential Villa in Abuja on Wednesday.

The APC initially released its campaign council list on August 22, naming Abdulaziz Yari, former Zamfara governor, as director-general. Senate President Godswill Akpabio, House of Representatives Speaker Tajudeen Abbas and Yobe Governor Mai Mala Buni were appointed deputy director-generals.

In the revised list, Akpabio, Abbas and Kwara Governor AbdulRahman AbdulRazaq are deputy vice-chairmen I, II and III, respectively, while Buni becomes deputy director-general I for the North.

The council also includes former governors and party chieftains as advisers, which include former APC national chairmen Adebisi Akande and Abdullahi Adamu; former Ogun State Governor Ibikunle Amosun; former Osun State Governor Iyiola Omisore; Senator Ibrahim Dankwambo; Senator George Akume; former Ogun State Governor Segun Osoba; and Wale Edun. Obafemi George is listed as an adviser on media.

The Directorate of Election Planning, Coordination, Monitoring and Mobilisation, established ahead of the 2027 general election, has Faleke as Deputy Director-General, with Stella Okotete and Engr. Abdullahi Garba Ramat serving as Secretary I and Secretary II, respectively. Audu Maikori is also listed as a secretary.

Other members of the directorate include Soares Omotola, Bashir Dabo, Sheriff Mohammed Usman, Jibrin Bancir, Ayoola Peter Olajolo, Abubakar Sadiq Sada and Princess Folasade Ogunbiyi.

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Your One Month Petrol Price Discount Medicine After Death, Obi Tells Tinubu

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The Nigeria Democratic Congress (NDC) presidential candidate, Peter Obi, has questioned how the Federal government’s 30-day petrol price discount would reduce poverty, unemployment, insecurity and inequality in the country.

Obi raised the questions in a statement posted on his X platform on Sunday, describing the initiative as a reactive policy that substitutes political optics for sound economic planning.

He argued that the discount, which he said amounts to less than five per cent of petrol costs, is unlikely to address the wider economic challenges facing Nigerians.

“The announcement by the APC-led Federal government offering a 30-day discount on price of petrol to relieve the acute hardship and hunger caused Nigerians by its unplanned removal of subsidy can only be described as another very reactive and confused approach to governance that is now the culture of the Tinubu government,” he said.

Obi said he had delayed commenting on the policy to allow time to assess its outcome, but maintains that the measure has not demonstrated a sustainable approach to addressing the country’s economic difficulties.

He recalled that President Bola Tinubu removed the petrol subsidy on May 29, 2023, arguing that the decision was taken without adequate consultation or a proper assessment of its likely effects on the economy and the livelihoods of ordinary Nigerians.

According to Obi, the subsidy removal was followed by other policies, including the floating of the Naira and tax reforms, which he argued are being implemented without proper sequencing and coordination.

He also criticised the government’s handling of multiple budgets, arguing that the combined effect of the policies has contributed to inflation and rising costs of goods and services.

Obi attributed what he described as increasing multidimensional poverty, business closures, unemployment, insecurity, widening inequality and youth migration to the economic pressures arising from the policies.

He also said the policies had weakened the general well-being of Nigerians, insisting that the government should assess their impact before introducing temporary relief measures.

The former Anambra State governor called for a detailed and publicly available regulatory impact assessment of government policies, arguing that such an exercise would help identify their effects and guide necessary adjustments.

He said a government committed to sustainable economic growth should engage stakeholders and ordinary citizens in consultations to develop inclusive policies that improve living conditions and expand economic opportunities.

Questioning the objectives of the petrol discount, Obi asked whether it would increase productivity and exports or whether it was intended to determine if the subsidy should be restored.

“Will it reduce poverty, unemployment, insecurity, and inequality? Will it increase productivity and exports? Is it a test to ascertain if subsidy should be restored? Is it another political gambit in the face of threats of electoral loss in the 2027 election?” he asked.

“Too many questions, no answer!” the former Governor of Anambra State added.

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2027: Atiku Urges INEC to Disclose Firm Printing Election Materials

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The African Democratic Congress (ADC) presidential candidate, Atiku Abubakar, has raised concerns over the lack of transparency surrounding the production of sensitive materials for the 2027 general elections, urging the Independent National Electoral Commission (INEC) to disclose the companies handling the printing.

Atiku warned that keeping details of the contracts and the process of selecting contractors from the public could weaken confidence in the electoral process.

In a statement issued by his Director of Strategic Communication, Phrank Shaibu, on behalf of the ADC Presidential Campaign Council, the former vice-president also called on INEC to explain recent changes involving officials in key departments responsible for election operations and information technology.

Reports said that Director Isa Magaji Gum has been moved from the Electoral Operations Department to the Voter Registry Department, while Mrs. Oluyemi Titilayo Adeyemi-Showunmi has been appointed to head Electoral Operations.

Dr. Lawrence Bayode was also identified as head of Information and Communication Technology.

Atiku said the commission has a responsibility to explain the reasons for the changes, and demonstrate that the decisions followed due process.

“These departments are at the heart of election administration. INEC must explain these decisions, publish the criteria applied and show that every appointment and redeployment followed due process, was based on merit and was free from political interference,” he said.

He also asked INEC to confirm or deny reports that Hitech, or a company linked to it, had secured a contract to print sensitive election materials for 2027.

“We are concerned by reports that more than half of the sensitive election materials, including presidential ballot materials, may have been allocated to an undisclosed company reportedly based in France. There are also questions about reports that the Nigerian Security Printing and Minting Plc is handling materials for only 15 to 17 states, while private companies are responsible for the remaining states.”

The former vice-president said Nigerians deserve to know which companies are producing their ballots and how the contracts were awarded.

“Nigerians should not have to depend on unnamed sources to discover who is producing their ballots,” he said.

The statement called for the publication of the names of the contractors, contract allocations, procurement procedures and security arrangements.

Atiku further argued that any contract awarded to Hitech or an associated company would raise questions about the commission’s neutrality.

He cited publicly reported business ties between the Chagoury family, which owns Hitech, and the Tinubu family.

He also referred to controversies surrounding major Hitech contracts under President Tinubu’s administration, including the Lagos-Calabar Coastal Highway project.

However, Atiku said INEC should clearly address the matter if neither Hitech nor any company linked to it has been selected to print election materials.

He also called on the Central Bank of Nigeria to disclose allocations for banknote printing and explain the roles of local and foreign contractors.

“We urge INEC to maximise the capacity of local security-printing firms and ensure that all ballot papers and result sheets are properly secured and accounted for at every stage of the electoral process. Any attempt to manipulate the 2027 elections will be resisted through the ballot, lawful civic action and other democratic means available to Nigerians,” he said.

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