Nigerian government consults financial experts on tackling economic recession

Nigerian government consults financial experts on tackling economic recession

FinanceMinister

On Tuesday, August 2, 2016, the economic management team setup by Nigerian president Muhammadu Buhari met with top Nigerian economists and financial experts in Abuja, according to report.

The meeting is part of the effort of the government to tackle the country’s economic recession.

Vice President Yemi Osinbajo presided over the meeting which had Bismarck Rewane, Akpan Ekpo, Ayo Teriba, Badeye Sani and Bode Augusto in attendance.

After the meeting, Minister of Budget and National Planning Udoma Udo told journalists that the economic management team was in the middle of consultations to develop a mid-term economic framework.

He explained that the experts made presentations to the economic management team on their response to the draft Medium Term Economic Framework (MTEF), which was still a consultative document.

He said:

‘It is part of a comprehensive consultation process that we are embarking on to make sure that we reach out to a wide spectrum of Nigerians to get a feed back in terms of how best to make sure that we come out of this recession.

‘That we get the best possible MTEF (Medium Term Economic Framework).

‘The Fiscal Responsibility Act requires us to do so.

‘On Thursday, we will be meeting in Lagos with private sector to continue with the consultations.’

The minister acknowledge that the economic management team had met with some non-governmental organisations (NGOs) last week and would hold similar consultations with members of the organised private sector.

He said that at the end of the consultations the federal government would come out with a programme which had received the ‘buy-in’ of many Nigerians.

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