From crumbling roads, traffic congestion, and poor public transportation to unreliable electricity and water supply and declining educational standards, alarmed by the dwindling fortunes of Nigeria, President Muhammadu Buhari, yesterday, brainstormed with his key ministers and financial experts from the public and private sectors, to find ways of fixing the troubled economy.
The President, who has repeatedly assured Nigerians of his resolve to turn around the economy, has come under immense pressure to take far-reaching measures to quicken the recovery of the economy. The retreat, which was packaged by the Budget and National Planning Ministry, in conjunction with the Finance Ministry, is seen as one of the early steps to proffer solutions to the beleaguered economy and prioritise areas for the 2017 budget.
The retreat had as its theme: Building Inter-ministerial Synergy for Effective Planning and Budgeting in Nigeria. Declaring open the retreat, President Buhari said the nation required what he called ‘out-of-the-box’ thinking to get out of the economic doldrums.
Buhari 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.
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