Kemi Adeosun, Nigeria’s finance minister, is poorly qualified to manage the country’s economy, according to English newspaper, The Economist.
In its review of President Muhammadu Buhari’s ministers, the newspaper described Okechukwu Enelamah, the minister for trade and investment, as “a respected businessman”, but noted that he “may lack the clout to stand up to the president”.
“Africa’s biggest economy, which relies on oil for 70% of its revenue, is sputtering as prices fall. Economic policy has been adrift since Mr Buhari came to power, and investors complain about the central bank’s use of trade controls and import restrictions,” The Economist said.
“However, the new finance minister, an accountant who cleaned up the books of one of Nigeria’s smaller states, is poorly qualified for the job.
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“Her counterpart in the investment ministry is a respected businessman, but he may lack the clout to stand up to a president with statist leanings.”
The report quoted Shehu Sani, senator representing Kaduna central senatorial district, as saying: “It’s a government with local professionals and without superstars.”
Adeosun, who is expected to better Ngozi Okonjo-Iweala, the immediate past coordinating minister of the economy, has over two decades experience in financing and capital management.
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With an economics degree from the University of East London and a post graduate degree in public financial management from the University of London, Adeosun honed her financing skills at Price Water Coopers and Chapel Hill Denham Management.
She was the commissioner for finance in Ogun state, from 2011 to 2015, a post she was to retain, before Buhari’s national call.
On the other hand, Enelamah initially trained as a medical doctor, but went on to qualify as a chartered accountant, earning an MBA from the Harvard Business School
He is the CEO of African Capital Alliance (ACA), which principally invests in Nigeria and countries in the Gulf of Guinea, and is reputed as the leading independent private equity firm investing in West Africa.
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He previously worked at Zephyr Management L.P., New York, and South Africa Capital Growth Fund, Johannesburg. He also worked with Arthur Andersen and Goldman Sachs.
6 comments
They’re ‘poorly qualifed’ because they don’t have PhDs and haven’t worked for one of the Bretton Woods institutions. The economist can be really petty.
What a narrow definition of qualification. At least, we’ve tested your wholly foreign-trained pros with PhDs and Bretton Woods experience and the result is there for all to see.
Ten months ago a good number of people here were finding fault with this post and exposé by the Economist. I am eagerly awaiting their comments now that the Economist publication has been proven to be 100% correct. Nigerians made a fatal mistake (a mistake they may not recover from) electing this illiterate and local soldier to man their affairs.
Does it matter what anybody thinks?
Raw truth!
The Economist is fast losing any relevance . So we must always have the Finance Minister from the World Bank for them to be very qualified ?
I wonder what has become the previous PhD’s and the Professors that have been in this position, just don’t understand why the Economist of all magazine ran by the United State Neo Con got to do with who we have as Finance Minister in the Nigeria Federation. Its about time the Nigerian President ban this type of Intrusion and ridiculous comments and tell the foreign Tabloid to mind their business.