Buhari, ministers, others tackle economic recession at retreat today | Nigeria News Today. Your online Nigerian Newspaper f


President Muhammadu Buhari will today chair an extra-ordinary retreat in Abuja to seek for ways of pulling the economy out of recession.

Expected at the one-day retreat are Vice President Yemi Osinbajo and members of the Federal Executive Council (FEC) and heads of relevant Ministries, Departments and Agencies (MDAs).

Also expected are private sector facilitators and some economic experts, who have been invited to offer perspectives during the technical sessions.

In a statement, the Ministry of Budget & National Planning said discussions on measures to revamp the economy will be the focus of the retreat.

According to Budget & National Planning Minister Udoma Udo Udoma, the meeting would also provide the forum for the Federal Government to present and discuss priority areas of next year’s budget and realign its priority areas of the MDAs with national growth and development objectives.

The statement by the minister’s spokesman Akpandem James reads: “The key objective of the retreat is to discuss the 2017 budget as well as steps being taken to get the economy out of recession.

“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 which is effectively linked with the medium term plan.

“The meeting will also review prioritised 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.

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  1. Story!! In all honesty this government needs luck and a serious hail Mary, and not brainstorming. With the value of the currency crashing as orchestrated by the CBN and their foreign allies. The economy is going to stay down. Prices are not only going up but currency value is close to valueless in an overpopulated single export country. Buying power only grabs inferior products.
    Since the President has admitted he is clueless and says change begins with me, I'll give him my 2 cents (idea). Let crude oil export from now be done in Naira, in order words making the naira scarce and sort after thus raising the value, nothing is impossible. Our key customers (China and Co.) will ditch the dollar because they don't support it anyways. We can't be friends with the whole world, that is recipe for stagnation any day.

  2. With reasonable and adequate planning, I forsee bright future.The still remains that all it takes to plan well is on ground as our natural resources is still one of the best in the whole wide world but the problem with us in this part of the world is greed and self interest rather than fighting for a coomon goal for us all as is seen the the western world. I am of the assumption that on the day we on our own decide to run the economy of this national with a view with a common to goal of transparency, then we will all have course to share testimony of thanksgiving


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