Economic Recovery: Buhari and Ministers brainstorm at retreat
Sat Sep 17, 2016 06:55:am National
2.4K By Buchi Obichie
President Muhammadu Buhari brainstormed with his key ministers and
financial experts from the public and private sectors at a retreat on
Thursday, in order to find ways of fixing the nation's troubled economy.
The retreat which had as its theme, 'Building Inter-ministerial Synergy for Effective Planning and Budgeting in Nigeria', was packaged by the Budget and National Planning Ministry in conjunction with the Finance Ministry; and is seen as one of the early steps taken by the Federal Government, to proffer solutions to the beleaguered economy and prioritize areas for the 2017 budget.
Declaring open the retreat, President Buhari said in order to get out of its current economic predicament, Nigeria required out-of-the-box' thinking.
He said: "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.
"We are confident that the level of private investment will grow as we are determined to make it easier to do business in Nigeria by the reforms we are introducing under the auspices of the Presidential Committee on Ease of Doing Business."
He stressed the determination of the government to explore possible ways of turning the current challenges into opportunities for the country, especially the nation's vibrant youths on whose shoulders lie the future of the nation.
"This is why we have embarked on measures and actions that will open up the opportunities we have seen in the power, housing, agriculture, mining, trade and investment; Information Communication Technology, ICT, tourism, transport and other sectors.
"I wish to reassure the teeming youths that this government would remain steadfast in its effort to ensure greater progress and prosperity for you. While government is taking the lead in the task of repositioning our economy for change, we cannot achieve this completely by ourselves.
"We will need, and we ask for the support and cooperation of the private sector, domestic and foreign, state and local governments, the National Assembly and the Judiciary as well as all well-meaning Nigerians in this important task. We are confident that working together, we shall succeed," Buhari assured.
The President has come under immense pressure lately, to take far-reaching measures to quicken the recovery of the economy.
The retreat which had as its theme, 'Building Inter-ministerial Synergy for Effective Planning and Budgeting in Nigeria', was packaged by the Budget and National Planning Ministry in conjunction with the Finance Ministry; and is seen as one of the early steps taken by the Federal Government, to proffer solutions to the beleaguered economy and prioritize areas for the 2017 budget.
Declaring open the retreat, President Buhari said in order to get out of its current economic predicament, Nigeria required out-of-the-box' thinking.
He said: "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.
"We are confident that the level of private investment will grow as we are determined to make it easier to do business in Nigeria by the reforms we are introducing under the auspices of the Presidential Committee on Ease of Doing Business."
He stressed the determination of the government to explore possible ways of turning the current challenges into opportunities for the country, especially the nation's vibrant youths on whose shoulders lie the future of the nation.
"This is why we have embarked on measures and actions that will open up the opportunities we have seen in the power, housing, agriculture, mining, trade and investment; Information Communication Technology, ICT, tourism, transport and other sectors.
"I wish to reassure the teeming youths that this government would remain steadfast in its effort to ensure greater progress and prosperity for you. While government is taking the lead in the task of repositioning our economy for change, we cannot achieve this completely by ourselves.
"We will need, and we ask for the support and cooperation of the private sector, domestic and foreign, state and local governments, the National Assembly and the Judiciary as well as all well-meaning Nigerians in this important task. We are confident that working together, we shall succeed," Buhari assured.
The President has come under immense pressure lately, to take far-reaching measures to quicken the recovery of the economy.
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