CHRICED Faults Composition of Tinubu’s Economic Advisory Committee, Urges Restructuring

The Resource Centre for Human Rights and Civic Education (CHRICED) strongly faults the formation of the newly established Tripartite Economic Advisory Committee by President Bola Ahmed Tinubu. While we recognize the urgent need for a solution to Nigeria’s worsening economic crisis, we are disappointed by the committee’s composition, which is predominantly made up of politicians and capitalist businessmen. It is unlikely that this committee will be able to navigate the current economic challenges and alleviate the suffering of millions of Nigerians, caused by the mismanagement of the economy since the All-Progressive Congress (APC) government assumed power in 2015.

Upon closer examination of the committee’s composition, it becomes evident that there is a lack of sincerity in the motives behind its establishment. In our honest assessment, the committee is currently comprised of individuals with vested political and capitalist interests, who have consistently benefited from Nigeria’s unfair and anti-people economic policies. How can those who are unfamiliar with hunger possibly address the issue of hunger in our country? These individuals have profited from government inflated contracts, tax exemptions, foreign exchange allocations, loans, subsidies, as well as deceitful practices, making them incapable of resolving our economic challenges. Many of them were responsible for the failed privatization efforts that have led us nowhere. They have taken advantage of government assets at giveaway prices and advocated for job cuts, downsizing, and the reduction of government services. It is worth noting that the companies owned by some of the committee members employ mostly casual workers who are denied the right to unionize. We assert that those who have played a significant role in causing our economic hardships cannot offer meaningful solutions to the problems they have contributed to creating. This is akin to entrusting the fish to the care of the cat!

During the inauguration of the committee, the president emphasized the need for additional efforts to assist the suffering Nigerians affected by poor economic policies. However, it is concerning that there are no representatives of the marginalized groups such as women, youth, persons with disabilities, organized labor, civil society organization, farmers collective, and academia on the committee. It therefore raises questions about the true intentions of the committee and whether it truly represents the interests of the downtrodden. 

CHRICED urge the president to either disband the committee or restructure it immediately to ensure that the voices of the suffering masses are heard, and their needs are addressed. Nigerians are tired of the orchestra of false hope and legacy of failed promises that have become the major character of the Tinubu administration. Nigerians want concrete and urgent interventions that can quickly lift them out of the cycle of abject poverty and economic bondage imposed on them by the inept and insensitive economic policies of government in the last nine months, to prevent a potential mass revolution in the country.