The Nation Newspaper

Tag: Ministry of Budget and National Planning

  • Adesina speaks on Ahmed’s status in Finance Ministry

    The Special Adviser to the President on Media and publicity, Femi Adesina, on Wednesday explained the current status of Zainab Ahmed who is currently overseeing the Ministry of Finance.

    Ahmed was named on Friday to oversee the Ministry following the resignation of Kemi Adeosun.

    Fielding questions from journalists on Wednesday after the Federal Executive Council meeting, Adesina said that the statement issued on Friday was very clear as she is overseeing the ministry.

    But he explained that she was treated as the Finance Minister during the FEC meeting.

    Asked to speak on her current status, he said “You know she was minister of state budget and national planning, she will relinquish that or she has relinquished that to go and oversee the finance ministry, so that is her status for now.”

    On whether she is supervising minister or overseeing minister or acting minister of finance, he said “It is a matter of nomenclature, yes but she is overseeing the ministry.

    Asked if she should be addressed as overseer, Adesina said “What you call her is a matter of nomenclature but if she is overseeing the ministry, then she is. But note that she is no longer Minister of State budget and national planning for now until anything contrary happens. But for now, she is in charge of the ministry of finance.

    On whether she can be placed on a substantive position, he said “Well, you know that statement was written in English and that statement says she will oversee the ministry of finance, let’s leave it like that.

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    “I just told you she is no longer minister of state budget and national planning, she will be minister of finance, in fact that was how she was addressed at council.

    “Don’t forget it is also a legal thing, if a minister is going to be appointed there are procedures that is why it is a deployment.” he stated

    Explaining why Ahmed had to relocate to the Finance Ministry, the Minister of Agriculture, Audu Ogbeh, said that all the key finance officials and documents are located in the Ministry of Finance.

    According to him, it will not be easy for her to oversee the Ministry from the Ministry of Budget and National Planning.

  • Budget: NASS has no right to introduce new projects – Osinbajo

    Budget: NASS has no right to introduce new projects – Osinbajo

    …Says Buhari concerned with 2017 Budget implementation

     

    Acting President Yemi Osinbajo on Tuesday declared that the National Assembly has no right to introduce new projects during consideration of national budgets.

    Osinbajo, who signed the 2017 Budget into law on Monday, said that the National Assembly only has the right to allocate funds for projects in the budgetary proposals submitted by the Executive arm of government.

    Osinbajo spoke on Tuesday during the Flag-off of the 2018 Budget and ERGP Implementation Plan Development Process by the Ministry of Budget and National Planning at the old Banquet Hall of the State House Abuja.

    He also harped on the need for full attention by all Ministers, permanent secretaries and heads of government agencies to the details of the budget.

    Noting that this year is very crucial, he said that President Muhammadu Buhari is very concerned with the budget and its full implementation.

    Details Later…

     

  • Political risk threatens FG’s economic recovery plan – Expert

    An economist, Prof. Uche Uwaleke, on Thursday identified political risk as a major threat to the successful implementation of government Economic Recovery and Growth Plan (ERGP).

    Uwaleke, the Head of Banking and Finance, Nasarawa State University, made this known in an interview with the News Agency of Nigeria (NAN) in Abuja.

    “Indeed, numerous other vulnerabilities remain but the biggest threat to the ERGP, in my view, is the political risk that received no mention under the section.

    “Nigeria’s experience over the years has shown that implementation of development plans suffer neglect whenever there is a change in government.

    “The political will argument holds water only in the context of stability in government when the conceiver (the President) is in office throughout the Plan period.

    “This condition is necessary for the success of the National plan,’’ he said.

    According to Uwaleke, a review of key economic variables over the years indicated that the penultimate and ultimate election years affect economic performance.

    The economist said that government spending usually increased in an election year, adding that this usually fuels inflation rather than encourages growth.

    He said that in 2011 and 2015, Nigeria’s inflation rate increased due to high expenditure associated with the elections.

    The economist said that the forthcoming 2019 election posed a threat to the ERGP’s goal of subduing inflation to single digit level by 2020.

    He said that the success of the ERGP would depend not only on its implementation but also on the commitment of the succeeding administration to see it through to the terminal year.

    Uwaleke, however, suggested that the country needed an enabling law to back up the ERGP.

    He said, “The idea of setting up a Delivery Unit in the Presidency to assist the Ministry of Budget and National Planning in overseeing the ERGP implementation is good but not sufficient.

    “If the Delivery Unit is not a creation of the Law, it lacks the capacity to discharge its duties.

    “To this end, the Federal Government as a matter of urgency, should forward a Bill to be known as the ‘’Economic Recovery and Growth Bill’’ to the National Assembly.

    “The Bill should take care of all issues specific to the ERGP distinct from the current Fiscal Responsibility Act of 2007 which focuses on annual budgets and the three year Medium Term Expenditure Framework.

    “ The government has barely one more year to prove that the ERGP will not go the way of its forebears.

    “ One of the key deliverables of the Plan is to reduce petroleum product imports by 60 per cent in 2018.

    “Therefore, putting in place an enabling law and passing the Petroleum Industry Bill will safeguard the country against the major threat to the ERGP.

    NAN reports that the Federal Government recently unveiled the ERGP, which contained the road map for Nigeria’s economic development.

    The four-year plan (2017-2020) envisages that by 2020, ‘’Nigeria would have made significant progress towards achieving structural economic change with a more diversified and inclusive economy’’.

    According to the plan, real GDP would grow by 4.6 per cent on average over the plan period while inflation rate would move to single digit by 2020.

    The plan outlines initiatives such as boosting oil production to 2.5 million barrels per day by 2020, privatizing select public enterprises/assets and revamping local refineries to reduce petroleum product imports by 60 per cent by 2018.

    Following the implementation of the plan, unemployment would reduce from 13.9 per cent as of Q3 2016 to 11.23 per cent by 2020.

  • FG reaffirms commitment to planning for economic development

    The Federal Government has reaffirmed its commitment toward adopting the principle of strategic planning in the management of the national economy.

    The Permanent Secretary in the Ministry of Budget and National Planning, Mrs Nana-Fatima Mede, stated this at the 15th meeting of the Joint Planning Board and National Council on Development Planning in Kano on Tuesday.

    Mede said the meeting would give participants the opportunity to interact on the modalities for strengthening strategic planning to enhance policy formulation and implementation.

    “This is expected to pave way for effective implementation and mainstreaming the Sustainable Development Goals (SDGs) into National and States Strategic plans.

    “This will also enhance the capacities of Public servants for sustained implementation of the strategic plans at the federal and state levels, “she said.

    According to her, the meeting will also provide a greater opportunity for participants to harvest and learn from their collective experiences, especially in the area of deepening National strategic planning.

    The permanent secretary also said that an improved strategic planning framework would assist in diversifying productive and revenue base of the National and State economies from oil.

    She urged all the participants and other stakeholders to put in their best and make meaningful contributions during the meeting.

    The Kano State Commissioner for Budget and Planning, Hajiya Aisha Bello, said the meeting would offer the state government the opportunity to showcase strategies toward the implementation of social and economic development projects in the country.

    According to her, the meeting would keep Nigerians abreast of developments in respect with the Nigeria vision 20:2020.

    NAN reports that the meeting which is being attended by stakeholders from across the country has its theme as: National Strategic Planning as a Vehicle for Attainment of the Sustainable Development Goals in Nigeria.

     

  • We will drive implementation of SDG with private sector – Adefulire

    We will drive implementation of SDG with private sector – Adefulire

    The Senior Special Assistant on Sustainable Development Goals (SDGs) to President Muhammadu Buhari, Mrs. Victoria Orelope- Adefulire has given the assurance that Nigeria is on course to meet major aspects of the SDGs.

    Mrs. Orelope-Adefulire while speaking in Abuja also revealed that the country would collaborate with relevant international agencies and make use of proven best practices while working closely with Nigeria’s private sector to drive the implementation of the SDG in the country.

    She said her office is partnering with the Ministry of Budget and National Planning to domesticate the 2030 Agenda by integrating it with the Medium Term Expenditure Framework as well as aligning it with the National Development Plan.

    Nigeria is also taking the lead in Africa by showing best practice in early domestication, integration and implementation of these goals through sub-national mainstreaming, inter-agency coordination and institutional strengthening.

    The Special Assistant who was also former Deputy Governor in Lagos said one of the major areas of collaboration is bridging the financial gap which has been a major challenge towards the implementation of the SDG.

    She said: “Our major challenge is inadequate resource flow due to the global economic downturn. We are reviewing the globally acclaimed best practices, such as the Conditional Grants Scheme, to ensure there is right targeting and efficiency in resource allocation to the grassroots.

    “By collaborating with the private sector, the SDGs Office will lead Nigeria’s drive to reduce the huge financing gap that tended to hamper progress on the SDGs.”

    Orelope-Adelifure said her office is also collaborating with different stakeholders in the private sector to in such areas , such as science, technology and innovation, data as well as human resources. She revealed that Sahara Group, an indigenous oil and gas company led by Tonye Douglas Cole  is sponsoring a United Nations Sustainable Development Goal Fund (UN SDG-F) workshop, on the development of a Universal Sustainable Development Agenda as a background to the nationalization of the SDG-F goals for Nigeria.

    According to her, the workshop is to get inputs and insights from the UN SDG-F and the private sector on how businesses can effectively contribute their quota towards achieving the SDG’s in Nigeria.

    “This is important due to the need for public and private sector agencies and organizations to understand the platforms available for collaboration, to meet the SDG-F goals in Nigeria.With the workshop, we will be opportunity for discussion to facilitate the creation of a collaborative National framework towards the successful implementation of the SDGs,” she said.

    According to the Presidential aide the workshop will bring together public and private sector players to discuss the universality of the new SDGs Agenda and its 17 goals. It will also  provide guidance on creating the right model for the full implementation of the SDG’s in Nigeria.

    She said: “The ultimate aim would be to work closely with the private sector to develop initiatives that would address the peculiarities of nationalizing the SDG’s in Nigeria in line with the Universality Agenda.  The workshop would form the basis for developing a framework for further discussions scheduled for the last quarter of the 2016.”

    On September 25, 2015, at the 70th Session of the United Nations General Assembly, member states of the United Nations adopted the 2030 Agenda for Sustainable Development. The Agenda has a set of 17 SDGs and 169 targets, with a framework for a peaceful, just, equitable and inclusive world. The new development Agenda  also aligns with Nigeria’s drive to deliver democratic dividends and improve the lives of the poor.

    The 2030 Agenda commits all signatory countries to work together to promote sustained and inclusive economic growth, social development and environmental protection; ensure that every person fulfilled his or her potentials in dignity and equality in a healthy environment.