The agenda for the day’s
meeting with the ministers included the plans for the 2017 budget. The retreat
which was facilitated by Mr. Frank Nweke (Jr) took place at the Banquet Hall of
the State House, Abuja. Below are nine takeaways from the retreat.
1. It was fashioned to
present and discuss priority areas of the 2017 budget and help the economy out
of the current recession. Below are some quotes from Buhari’s speech today:
First he spoke on
Ministries, Departments and Agencies (MDAs). “Over the years, there has been a
mismatch between planned targets and budgetary outcomes at the National and
sectorial levels.
“The Federal MDAs have not
also benefited significantly from working together and building consensus
around common national objectives. This
has impeded growth and development of the country.”
2. Then he stated the main aim of the retreat
“The retreat will also
serve as an opportunity to have a general overview of the economy and discuss
the framework for the 2017 Budget, its key priorities and deliverables.”
3. Then
he spoke on the timing of the retreat
“This retreat is coming at
a critical time in our economic history, when the Nigerian economy is in a
recession, with significant downturn in performance in various sectors.”
4. Then he spoke on why he
was in attendance
” I decided to sit through
the first part of the session to listen to the views from experienced
economists and development experts. “On how best to implement our plans to rid
the country of its oil dependence and to diversify the economy and bring the
country out of the current economic recession.”
5. He also told those
present what was expected of them
“I also trust that the
breakout sessions will enable you to discuss extensively among yourselves, the
details of the four sub-themes and come up with practical solutions on the way
forward.”
6. He announced the
changes in allocation
“Let me inform you that
because of the need to focus on our key priorities, some Ministries may get
significantly less capital allocation than they received in 2016, while others
may get significantly more.”
7. Think out of the box people
“Indeed, the challenges we
face in the current recession require ‘out-of-the-box’ thinking, to deploy
strategies that involve engaging meaningfully with the private sector, to raise
the level of private sector investment in the economy as a whole.”
8. He then assured Nigerian youths
“I wish to reassure its
teeming youth that this Government would remain steadfast in its effort to
ensure greater progress and prosperity for you.”
9. Then he asked for
support
“We will need, and we ask
for the support and cooperation of the private sector’s domestic and foreign
investors, the states and local Governments, the National Assembly and the
Judiciary as well as all well-meaning Nigerians in this important task.”
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