The Nigerian Economic Society (NES) is set to honour the Director of the Intergovernmental Group of 24 on International Monetary Affairs and Development (G-24), Iyabo Masha, with the 2025 NES Distinguished Fellowship Award.
NES also noted that the Nigerian Vice President, Kashim Shettima, and the Governor of the Central Bank of Nigeria, Yemi Cardoso, and others will be honoured during its annual conference.
The award recognition is part of the highlights of the 66th Annual Conference of the Nigerian Economic Society, to be held between 8 and 11 September, at the NAF Conference Center, Kado, Abuja.
In its statement congratulating Mrs Masha, NES stated that the G-24 director earned the award through her leadership at national and international organisations.
“In the course of a distinguished career, you have provided effective leadership at national and international organizations, demonstrating scholarly expertise complemented by practical impact.
“Congratulations on joining the ranks of the esteemed group of past recipients of the NES Distinguished Fellowship Award, including Professor Ojetunji Aboyade, Professor Sam Aluko, Dr. Pius Okigbe, Professor Ibi Ajayi, Dr. Ngozi Okonjo-Iweala, His Royal Majesty Muhammadu Sanusi, Professor Charles Soludo,” NES stated.
Mrs Masha is currently the Director of the Intergovernmental Group of 24 on International Monetary Affairs and Development (G-24).
The global economic expert has a strong focus on macroeconomic and financial policies. She served as a member of Nigeria’s Presidential Economic Advisory Council from 2019 to 2022.
Distinguished Fellowship
Speaking on behalf of Adeola Adenikinju, the 44th President of the Nigerian Economic Society, the Administrative Head of NES, Solomon Terkura, in an interview with PREMIUM TIMES, said the fellowship award is exclusively reserved for economists with significant contributions to national development.
He added that the award is also open to outstanding individuals outside the society, noting that the conferment of the award began in 1988, although NES was founded in 1957.
He explained that the award is conservative and has mostly been conferred on previous NES presidents and a few other individuals with key significant contributions to the economy around the world, since its creation.
“In fact, it was like it’s reserved for the past presidents, the current president is 44th, and you have a total number of (about) 70 fellows. That tells you how conservative the society is; it means that past awardees who are outsiders or non-presidents have just been around 30, which includes Charles Soludo and Ngozi Okonjo-Iweala.
“To be precise about the award background, the first award was in 1988, and the next in 1991. At that time, there was only one individual per award. It was once every two or three years.
“But since 2012, it has become an annual event. The first awardee was Professor Adedeji Adebayo, and the second was Mr. Allison Ayida,” Mr Terkura said.
While responding to questions about key achievements of Mrs Masha that qualified her for the award, Mr Terkura cited her role in G-24 and other key contributions to the economy.
“We look at inclusion in the rank of the G-24 and other significant roles she has contributed,” he said.
“The award is a recent initiative and is given annually to only a few individuals. It is highly competitive, and recipients do not apply for it; they are recommended. It is well deserved and not something that could ever be given to the highest bidder.
“Even wealth or influence cannot secure it. Nominees are carefully scrutinized, and the committee makes its recommendations to the governing council before the final list is approved. Each year, more than one person is usually honored,” he said.
NES annual conference
The NES annual conference, themed ‘Rethinking Africa’s Development: Pathways to Economic Transformation and Social Inclusion in a Changing Global Economic Landscape’, also aims to feature Fireside Chats involving two of Nigeria’s key economic leaders, Wale Edun, the Minister of Finance and Coordinating, and Economy, and Abubakar Atiku Bagudu, Minister of Budget and Economic Planning.
According to NES, the conference polled 350 professional economists from the oldest professional body in the Nigerian Social Sciences on their outlook on the Nigerian economy for 2025.
Speaking on the 66th NES annual conference and Nigeria’s economic challenges, the NES administrative head said the conference will address Nigeria’s economic reforms and decisions to restructure and focus on the economy, grow GDP, increase revenue, and create jobs.
“Just yesterday, we paid a courtesy visit to the Vice President of Nigeria, and it was the same discussion. He emphasised that the government has now taken steps that past governments were reluctant to take.
“When we talk about rethinking, we must look at sectors like agriculture, energy, and manufacturing. America is rethinking policies like “America First,” so why can’t Nigeria say “Nigerians First” or Africa say “Africans First”?
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“Instead of blaming others, we should restructure and focus on our economy, grow GDP, increase revenue, and create jobs.”
Mr Terkura added that the conference will also feature a discussion with the Central Bank of Nigeria on the monetary efforts of the apex bank in rescuing the country’s economy.
“At the conference, these issues will be discussed. The CBN will also have a session chaired by one of its deputy governors, with two directors present, to explain their efforts as the monetary authority.”