By Usman Aliyu

Economic experts on Thursday called for strategic reforms, citizen accountability and evidence-based leadership to revive Nigeria’s economy.

The experts made the call during the maiden public lecture of the Faculty of Social and Management Sciences of Benson Idahosa University (BIU), Benin, the capital of Edo.

The News Agency of Nigeria (NAN) reports that the lecture had the theme, “Rethinking Nigeria’s Economic Management Policies and the Way Forward.”

Delivering the keynote address, Prof. Mustapha Sagagi, a seasoned economist and non-Executive Director at Central Bank of Nigeria (CBN), blamed systemic corruption, weak policy implementation, and fiscal recklessness for Nigeria’s challenges.

“Nigeria does not have a shortage of economists, engineers, or accountants.

“What we lack is a leadership and institutional system that allow good ideas to translate into action,” he said.

He emphasised that macroeconomic policies, no matter how well-crafted, often faltered due to poor coordination among top decision-makers.

He also highlighted the damaging effects of past unbridled borrowing and money printing, noting that over N30 trillion was printed in seven years without corresponding economic output.

Sagagi, a lecturer at the Dangote Business School, Bayero University, Kano, however, acknowledged recent gains including inflation moderation, rising reserves, and improved forex transparency.

He pointed to the CBN’s tightening stance and unified exchange rate system as stabilising forces.

“If not for monetary tightening, the naira could have crashed to N3,000 per dollar. That would have been catastrophic,” he noted.

He stressed that more needed to be done, however, to translate macroeconomic reforms into better livelihoods.

In a lecture, Dr Sam Amadi, a Harvard-trained governance expert, reinforced Sagagi’s points but emphasised institutional capacity and infrastructure planning.

“Development isn’t just about growth. It’s about enhancing people’s freedoms and capabilities,” Amadi said.

He lamented the chronic failure to address productivity, inequality, and multidimensional poverty.

“Nigeria keeps changing governments, but policies remain unimplemented or ill-conceived.

“We need infrastructure that matters—feeder roads, power, education—not flyovers built for political optics,” he said.

Rounding off the session, Dr Ayo Teriba, CEO of Economic Associates, called for long-term planning and infrastructure investment.

“We must put the Ministry of Budget and National Planning at the centre. Without a functioning plan, fiscal and monetary policies are rudderless,” he said.

Teriba advocated replicating the telecom sector’s privatisation success in power, rail, and gas, arguing that “infrastructure was too important to be left to the government alone.

He also highlighted inefficiencies in agricultural distribution, noting that 60 per cent of crops were lost post-harvest due to poor transport and storage systems.

“Agriculture is not failing; the support systems around it are,” he said.

Earlier in his opening remark, Prof. John Okhuoya, Vice-Chancellor of BIU, said universities had a duty to drive policy engagement and development solutions.

“We must move from analysis to action. BIU is committed to being a hub for solution-driven conversations like this,” he said.

In her remarks, Prof. Rosemary Obasi, Dean of the Faculty of Social and Management Sciences of the university, said the lecture was meant to bring stakeholders together to deliberate on the future of the nation’s economy.

She noted that the faculty was confident that insights shared would inspire new perspectives and ideas.

In his address, Prof. Mike Asekome, Chairman of the Local Organising Committee, said the experts were carefully selected to share their expertise and experience in reviewing, rethinking and proffering solutions to the present economic trajectory. (NAN)(www.nannews.ng)

Edited by Kevin Okunzuwa

By Vivian Emoni

The Fiscal Responsibility Commission (FRC) has expressed its readiness to partner with BudgiT to enhance transparency in Nigeria’s capital budget implementation.

The Executive Chairman of the commission, Dr Victor Muruako, made this known while receiving a BudgiT delegation on courtesy visit in Abuja.

Muruako was represented by Alhaji Muhammed Zailani, the Director of Administration and Human Resources Directorate, FRC.

The News Agency of Nigeria (NAN) reports that the delegation formally presented the finalised copy of its Capital Projects Monitoring Manual to the commission.

The copy is a Practical Guide and Framework for Tracking National and Subnational Projects in Nigeria.

Muruako said that the meeting served as a platform to discuss key public finance management policy recommendations and explore areas of alignment and collaboration between both organisations.

He emphasised FRC’s ongoing efforts to promote fiscal discipline and transparency, particularly through public sensitisation campaigns targeting Nigerian youths and National Youth Service Corps (NYSC) members.

“As part of our mandate under the Fiscal Responsibility Act, 2007, we are engaging the youth to raise awareness about fiscal governance,” he said.

The Chairman said that the commission advocated for more capacity-building initiatives internally.

He said that the FRC had embarked on several workshops focused on data visualisation and the use of infographics.

According to him, infographics are now one of the most effective ways to communicate information quickly and clearly through digital platforms.

The leader of the BudgiT delegation and Stakeholder Manager, Mr Andrew Oaikhena, said that the purpose of the visit was the official presentation of the policy manual.

Oaikhena said that BudgiT was a civil society organisation that promotes transparency and accountability in public finance.

“We are also here to discuss challenges ministries, departments, and agencies (MDAs) face in preparing and executing capital budgets.

“The BudgiT is collaborating with anti-corruption agencies such as the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC).

“The commencement of this collaboration with FRC aims to ensure that only appropriate items are included in capital budgets,” he said.

Oaikhena expressed optimism about the potential impact of the partnership.

He said that the copy of the monitoring policy manual marked a significant step toward institutional synergy in the fight against corruption and the promotion of fiscal responsibility in Nigeria.

The event concluded with the formal presentation of the hard copy of the monitoring manual. (NAN)(www.nannews.ng)

Edited by Kadiri Abdulrahman

By Vivian Emoni

The Abuja Enterprises Agency (AEA) says it is collaborating with local and international organisations to support Micro Small and Medium Enterprises (MSMEs) for a conducive business environment.

said this in an interview with the News Agency of Nigeria (NAN) in Abuja.

Ugwuada-Ezirigwe said that the agency was partnering with Japan International Agency (JICA) and Korean International Cooperation Agency (KOICA) to support Nigerian MSMEs to be more productive in their business.

“We have collaboration, not only with JICA, but also with other international and national organisations who actually provide us with needed manpower training.

“We collaborated with KOICA to establish a Startup Digital Innovation Academy (SDIA) in the agency`s complex,’’ he said.

Ugwuada-Ezirigwe said that the initiative was part of KOICA’s broader Abuja Centre for Entrepreneur (ACE) project, which is aimed at supporting the growth of MSMEs in Abuja and beyond.

He said that SDIA served as a digital hub for SMEs, providing them with training, resources, and opportunities to improve their digital capabilities.

According to him, the agency is also partnering with the National Information Technology Agency (NITDA) to enhance investment for job creation.

“The collaboration aims to empower youth, attract investment, and create jobs, potentially through initiatives like the Abuja Start-up Hub.

“The agency is working with the Raw Materials Research and Development Council (RMRDC) to revolutionise the shea butter industry in Nigeria.

“The objective of the partnership is to enhance production, processing and commercialisation of shea butter, thereby promoting sustainable development and empowering local communities.

“Beyond all these engagements, the agency is also partnering with the United Nations Development Programme (UNDP).

“The programme has gone a long way in supporting the agency for easy access in technology to help leverage and enhance businesses for our SMEs,” he said.

The AEA boss said that collaboration was crucial in the process of developing MSMEs.

“As a matter of fact, most of our activities are purely based on partnerships because the SMEs sector is so huge that we really cannot do the job alone.

“We require support, partnership and collaboration, not just from the public sector alone, but from the private sector as well,’’ he said.

Ugwuada-Ezirigwe said that the AEA was planning to host Abuja Farmers Food Fair (AFFF), adding that the agency was working with Global Learning Hub to ensure the success of the programme.

He said that the global learning hub was a platform that would facilitate access to training and knowledge-sharing, thereby, attracting people across the city.

“It aims to showcase agricultural innovations, connecting farmers with access markets and promoting economic growth in Abuja.

“The AFFF is a significant event for the agricultural sector in Abuja, offering opportunities for networking, market access, and economic growth.

“It is also a chance to explore groundbreaking innovations, connecting and interacting with industry leaders.

“The fair is expected to play a role in transforming Abuja into a leading agro-commerce and innovation hub in Nigeria,” he said.

He said that the AEA was the FCT’s vehicle for wealth creation, employment generation and poverty eradication. (NAN)(www.nannews.ng)

Edited by Kadiri Abdulrhahman