Recession: Buhari, Ministers,Economic Experts Brainstorm

President Muhammady Buhari stressing a point to the Vice President Yemi Osinbajo during the economic retreat.
President Muhammady Buhari stressing a point to the Vice President Yemi Osinbajo during an economic retreat recently.

Start Work On 2017 Budget

AS the effect of the recession bites harder in Nigeria, President Muhamadu Buhari, his deputy, Professor Yemi Osibajo; ministers and heads of relevant Federal Government Departments and Agencies as well as economic experts will today converge on the Banquet Hall of the State House, Abuja, to find ways of stemming the tide.

The meeting will also be used to discuss the 2017 budget and align priority areas of the MDAs with national growth and development objectives.

According to a statement by Media Adviser to Minister of Budget and National Planning, James Akpandem, the key objective of the retreat is to discuss the 2017 Budget as well as discuss steps that are being taken to get the economy out of recession.

It will provide an opportunity to discuss the framework of the 2017 Budget, the key priorities and the deliverables of the budget.

President Muhammadu Buhari and Vice President Yemi Osinbajo will participate; while private sector facilitators and some economic experts are expected to provide perspectives during the technical sessions.

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The retreat became necessary because over the years the country’s growth and development have been impeded by mismatch between plan targets and budgetary outcomes at the national and sectoral levels due to lack of synergy between the various Federal Government Ministries, Departments and Agencies (MDAs).

The retreat is expected to deliver improved understanding of the measures being taken to get the country out of recession; improve synergy among the various ministries for enhanced implementation of planning and budget; enhanced knowledge of how to develop 2017 Budget which is effectively linked with the medium term plan; prioritized projects and programmes of ministries to fit into the 2017-2019 MTSS, 2017-2020 Medium Term Plan and 2017 Budget; and improved understanding on Budget ceiling for MDAs for 2017 Budget.

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