Nigerian Economist Passes On

Nigeria mourns the loss of a distinguished economist and visionary leader, Mr. Olabode Agusto, who passed away at the age of 68.

A pioneer in Nigeria’s financial landscape, Agusto was the founding Managing Director of Agusto & Co., the nation’s first credit rating agency, and a prominent figure in the fields of economics, finance, and business strategy.

Agusto’s legacy is deeply intertwined with the growth and development of the Nigerian finance sector. In 1992, he established Agusto & Co., which played a pivotal role in introducing credit rating services to Nigeria.

Under his guidance, the company became the first credit rating agency licensed by the Securities and Exchange Commission, shaping the financial landscape of the nation. Today, Agusto & Co. operates not only in Nigeria but also in countries like Kenya and Rwanda.

Apart from his significant contributions to the private sector, Agusto served the nation in various capacities. He received the national honour of Member of the Order of the Federal Republic in 2003 for his outstanding contributions to the Nigerian economy.

President Olusegun Obasanjo recognized Agusto’s expertise and appointed him as the Director General and Special Advisor to the President on Budget Matters. During his tenure, Nigeria achieved remarkable fiscal discipline, running budget surpluses annually and repaying a substantial portion of the national debt.

Agusto’s impact extended beyond his professional accomplishments.

He served as a Non-Executive Director on the boards of Agusto & Co. Limited and Grand Cereals Limited, a subsidiary of UACN Plc.

He was also a member of the Monetary Policy Committee of the Central Bank of Nigeria and held positions on the boards of prominent institutions like GTBANK, Shell Nigeria CPFA, and Nigerian Agip CPFA.

His dedication to knowledge-sharing was evident through his commitment to mentoring the next generation of leaders. Agusto regularly conducted financial seminars, imparting his wisdom and experience to aspiring professionals in the finance sector.

The nation’s financial community mourns the loss of a remarkable individual whose contributions will be remembered for generations to come.

As Nigeria bids farewell to a trailblazer, the impact of Bode Agusto’s work continues to shape the nation’s financial landscape, leaving an indelible mark on the industry he helped build and transform