Thursday, September 15

First details of 2017 budget emerges at anti-recession retreat

First details of 2017 budget emerges at anti-recession retreat

The federal government has let Nigerians into some of the details of the 2017 budget during a retreat for ministers and some of heads of agencies in Abuja on Thursday, September 15.

The News Agency of Nigeria (NAN) reports that the budget, which has already been approved by the Federal Executive Council (FEC) but has not yet been presented to the national assembly, is focusing largely on pumping funds into capital projects to get the economy running again.

First details of 2017 budget emerges at anti-recession retreat

President buhari delivering his address at the anti-recession retreat in Abuja.
“The government is trying to align the budget to the reality on ground and on how to pump money into the economy, especially on capital project.

“The government believes that pumping money into more capital project would generate employment and boost the economy,” NAN wrote.

First details of 2017 budget emerges at anti-recession retreat

According to NAN, the retreat is aimed at helping the government stakeholders understand how the 2017 budget will run and familiarise themselves with the process.

The retreat, it reports, will help set the tone for “prioritizing projects and programmes of ministries to fit into the 2017-2019 MTSS, 2017-2020 Medium Term Plan and 2017 Budget” and “also improve understanding on Budget ceiling for MDAs for 2017 Budget.”

President Buhari addressng cross-section of government stakeholders at the anti-recession retreat. Photo: NAN
It also quoted Akpandem James, media adviser to the budget minister, Sen. Udoma Udo Udoma as saying that the key objective of the retreat is to discuss the 2017 Budget and steps being taken to get the economy out of recession.

“It 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,’’Akpandem said.

Buhari with Frank Nweke jr, the facilitator of the 2017 budget retreat. Photo: NAN
The retreat was facilitated by former minister of information and DG of Nigerian Economic Summit Group, Frank Nweke (jr) and the ministry of budget and national planning “to set the right parameters and fine-tune the 2017 Budget”.

It was held at the Banquet Hall of the State House, Abuja and was chaired by President Muhammadu Buhari and vice president, Yemi Osinbajo.

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