Ex-Minister, renowned economists, forecast Nigeria’s economic outlook at Tajudeen Ahmed ‘s 50th birthday symposium
The General Manager/Group Head Business Development at BUA Group, Tajudeen Ahmed on Saturday held his 50th birthday symposium and launched a foundation in honour of his late father, Musa Adeleke Ahmed Foundation (MAAF).
Held at The MUSON Centre, the event which brought together seven renowned economists, colleagues, friends and families of the celebrant was chaired by a two-term former Minister, Dr Olusegun Aganga who flew in from his UK residence to honour the celebrant.
Foremost Economists on the panel discussion include: Prof. Doyin Salami, Dr. Ayo Teriba, Dr. Biodun Adedipe, Dr. Tope Oshikoya, Dr. Ogho Okiti, Dr. Muda Yusuf, and Otunba Opeyemi Agbaje. The session was moderated by Arise TV presenter Boason Omofaye.
In their panel discussions, the economists urged the Federal Government not to take on a hook, line and sinker basis, The Bretton Woods Institutions recent reports on the nation’s economy outlook saying this sometimes contradicts reality.
Recall that the World Bank’s latest Africa’s Pulse report projected a grim future for Nigeria, with poverty expected to rise by 3.6 percentage points by 2027.
Released during the recently concluded International Monetary Fund (IMF) and World Bank Spring Meetings in Washington, DC, the report cites Nigeria’s reliance on oil, economic fragility, and governance challenges as key drivers.
It highlights the country’s structural economic weaknesses, dependence on oil revenues, and national fragility as key barriers to meaningful poverty reduction.
“Poverty in resource-rich, fragile countries, including large economies likeNigeria and the Democratic Republic of Congo, is projected to increase by 3.6 percentage points between 2022 and 2027,” the report stated.
The panelists, however noted that while Nigeria maybe having challenges in certain areas, however, she is poised to show strong economic outing in the next three to five years owing to a number of reforms of the Federal Government if some basic challenges and clogs in the wheel of progress are fixed as a matter of urgency.
According to their submissions, these include; combating insecurity and it’s many challenges, fixing the nation’s epileptic power supply, liberalizing trade/market, strategic partnership with private sector, resuscitation of moribund key government agencies/institutions, measure, grow and mandate naira transactions, timely intervention in failed private investments.
Others include; elimination of government bureaucracy and enthronement of efficient ease of doing business policy, additional reforms to deal with skyrocketing food prices, infrastructural intervention across states, good leadership and political will for policy implementation.
Earlier in his opening address, chairman of the occasion, Aganga eulogized the birthday celebrant as a thorough bred professional deserving of all the accolades he is getting. He noted that Ahmed who has had over 20 years of flourishing career spanning three sectors: Consulting, Banking, and Manufacturing has paid his dues from his humble days learning from the feet of industry giants and the result is there for all to see.
“Ahmed has demonstrated his relevance and footprint in the industry and nation at large through the calibre of people he was able to attract for this event. It is rare to have these economists and other professionals sit in one place to proffer solutions to some of our challenges at this trying time. We can’t put a monetary value to what we got here today and we thank all of them for their patriotism and respect for Ahmed,” the former minister said.
Meanwhile, Aganga also charged governments at all levels to brainstorm for industrialisation plans that will improve the nation’s productivity, adding that no country can grow by only exporting raw materials.
Highlight of the event was the launch of the Musa Adeleke Ahmed Foundation (MAAF) that had on it’s Board the celebrant, former Managing Director of Bank of Industry (BOI), Dr. Waheed Olagunju (Chairman), Prof. Azizat Amoloye-Adebayo (Secretary) and a serving House of Representatives member for Surulere Federal Constituency I, Hon. Fuad Laguda. The Board promised to put to judicious use funds received from time to time with utmost integrity and accountability.
In an emotion-laddened vote of thanks, Ahmed appreciated one-by-one his family, friends, organizing committee and everyone who made the event a success despite his short notice to them. He particularly appreciated the chairman and former minister who cancelled prior engagements in Nigeria and UK to be physically present. He also appreciated the panelists whom he said generously offered their services for free.
The celebrant in what he called a surprise twist presented appreciation plaques to 17 of his past and present employers who have had a direct influence on his blossoming career over the years.
