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Retreat
with cabinet members discussing the state of the nation’s economy and
strategies to get the country out of recession include Minister of Science
& Technology Barr. Adebayo Shittu and Minister of Justice Abubakar Malami,
Minister of Finance Kemi Adeosun, Minister of State Budget & National
Planning Zainab Ahmed, Minister of Women Affairs Aisha Alhassan, Minister of
State Environment Ibrahim Ismail Jibril, FCT Minister Muhammadu Bello, Minister
of Budget & National Planning Udoma Udo Udoma.
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President Muhammadu
Buhari and Vice President Yemi Osinbajo are currently in a retreat with cabinet
members discussing the state of the nation’s economy and strategies to get the
country out of recession.
Media
report continues:
The
one-day session holding at the State House conference centre, with the theme
“Building inter-ministerial synergy for effective planning and budgeting in
Nigeria” will also consider priority areas of the 2017 Budget.
Four
key speakers including Obadiah Mailafia, Ayo Teriba, Birsmark Rewane and Bode
Agusto will be making presentations during the closed technical session with
the president.
They
will be making presentations on Weaning the Economy out of oil dependence;
Fiscal and Trade Policy options to get the economy out of recession; Monetary
and Exchange Rate Policy options to get the economy out of recession and How to
grow output and productivity in the Real Sector, respectively.
The
Ministry of Budget and National Planning said in a statement on Wednesday that
President Buhari would lead his deputy, who is the head of the economic team,
along with ministers and heads of relevant federal ministries, departments and
agencies to the meeting.
The
Minister of Budget National Planning, Udo Udoma, said the meeting would also
provide the forum for government to present and discuss priority areas of the
2017 Budget as realign its priority areas of the MDAs with national growth and
development objectives.
“The
key objective of the retreat is to discuss the 2017 Budget as well as discuss
steps being taken to get the economy out of recession,” his spokesperson,
Akpandem James, said in a statement.
“The
meeting is part of a scheduled arrangement to fine-tune and set the right
parameters for the 2017 Budget. It (the meeting) will provide an opportunity to
discuss the framework of the 2017 Budget, the key priorities and the
deliverables of the budget.
“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 and enhance knowledge of how to develop 2017 Budget to
effectively link with the medium term plan.
“The
meeting will also review 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,” he said.
The statement said the retreat became necessary, as years of 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 MDAs.
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