President Muhammadu Buhari has charged his cabinet ministers and financial experts to ‘think out of the box’ and come up with effective strategies for pulling the nation out of its current economic recession.
Mr. President gave this charge at a retreat held at the Banquet Hall of the Presidential Villa Abuja yesterday. The retreat which focused on building inter-ministerial synergy for effective planning and budgeting in Nigeria and had in attendance ministers, economic consultants and development experts.
The President 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.
“We are confident that the level of private investment will grow as we are determined to make it easier to do business in Nigeria.”
President, Muhammadu Buhari, also promised to continue to partner with key stakeholders including the private sector, the state and local governments, the National Assembly and the judiciary to turn the current challenges into opportunities for the country.
The retreat also served as an opportunity to have a general overview of the economy and discuss the framework for the 2017 budget, its key priorities and deliverable,as the president stated guidelines on the 2017 budget process.
The meeting also reviewed prioritised projects and programmes of ministries to fit into the medium term plan and 2017 budget. Private sector facilitators and some experts on economics also provided perspectives during the technical sessions at the retreat.
The Buhari-led administration has come under searing attacks by notable public figures in the last few days, with many asking him to buckle down and deliver on the change he had promised the electorate during his electioneering last year.
In the forefront of critiques were the Emir of Kano, Alhaji Mohammed Sanusi II, former governor of the Central Bank of Nigeria; Prof. Charles Soludo; President of the Senate, Dr. Bukola Saraki; and the Archbishop of Sokoto Dioceses, Hassan Kukah.
Which have all called for more rigorous thinking through economic policies and asked the president to seek help from experts and private sector players to show him the way out of the woods.