Chief Economist (CE)

Federal Government Development Finance Institution (DFI)

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The Federal Government of Nigeria is setting up a Development Finance Institution (DFI) with the objective to increase the availability and access to finance for micro, small and medium enterprises through eligible finance intermediaries.


It will be a wholesale development finance institution that will provide long term financing and partial credit guarantees to eligible financial intermediaries for on-lending to micro-, small, and medium enterprises (MSMEs). It will thrive on a culture of innovation to encourage and promote the growth of MSME in Nigeria by providing financial facilities to participating financial institutions to on-lend to MSMEs.


Job Description

The Chief Economist when appointed will be required to perform the following tasks/responsibilities among others;


Scope of Work

Overall Function of the Position:

The Chief Economist will provide intellectual leadership relating to all aspects of economics and development within the Institution, as well as contribute to product conceptualization, design, funding, implementation and quality assurance of funds to be disbursed through on-lending organizations.


Specific Duties of the Position

  • Lead the process of developing strategies and policies, in collaboration with relevant departments of the Institution.
  • Lead the Institution’s ambitious work on economic modelling internally and build and maintain an external network to carry this work to its conclusion
  • Produce short term and long-term economic forecasts for the Institution.
  • Forecast and interpret the key components of the Nigeria economy
  • Provide forward-looking analysis for capital planning to identify economic and other related trends
  • Publish regular economic analysis commentaries and forecasts of interest rates and key economic factors on a timely basis
  • Lead the production of regular reports which monitor developments in global economic and financial environment as well as the Institution’s key markets and products
  • Consult with various bank departments on economic forecasts, market behavior, and political decisions, which may affect their areas. These will include asset servicing, investments, treasury, trade and foreign exchange
  • Lead on the conceptualization, development and funding of priority projects for the Institution to embark on.
  • Manage and build an internal economics unit within the Institution, while supervising and providing mentoring for other researchers within the Institution
  • Collaborate with key external partners, stakeholders, National/International Financial Institutions, multilateral and bilateral organizations, academia, the private sector and other relevant organizations to advance the objective and goal of the Institution
  • Periodically review key corporate activities and performance reports and take appropriate action to ensure the corporate objectives are achieved.
  • Advise the Board and Management on appropriate focus and initiatives/instruments that will enable success and impact.
  • Coordinate the articulation of the organization’s strategy leveraging data and analysis
  • Perform annual due diligence to confirm PFIs meet the minimum eligibility criteria; perform spot checks on PFIs
  • Monitor loan beneficiaries, evaluate current and forecast performance and advise Management of remedial steps, if required.


Submission of Expressions of Interest (EOIs)

Prospective Applicants should note the following information as basis for pre-qualification:


Education and Experience Required

The successful candidate should have:

  • Minimum of a Bachelor's Degree in any discipline and a Master’s Degree in Economics or related discipline
  • PhD in Economics or related relevant field (will be an advantage)
  • Minimum of 15 years post-graduation experience in professional economic research or other relevant experience in national/international organizations/national government, or academic institutions out of which at least 7 years must have been in a Senior Management position
  • Proven substantive (research and publication) track record
  • Experience in macroeconomic model-building
  • Experience within the banking Industry, MSME and Consulting would be of added advantage

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