Nigeria on pathway to economic prosperity – FG

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By Joshua Oladipo

The Federal Government says Nigeria is on its pathway to economic prosperity through effective implementation of policies for sustainable growth and development.

Sen. Abubakar Bagudu, the Minister of Budget and Economic Planning, said this at the end of the 22nd Joint Planning Board (JPB) and National Economic Council on Development Planning (NCDP) on Thursday in Osogbo.


The meeting has as its theme: “Imperatives for Restoring Nigeria on the Part of Sustainable Eonomic Growth and Development”.

Bagudu said that the economic summit was significant in providing opportunities for government officials at helm of affairs to brainstorm and interrogate economic policies that would put Nigeria among the comity of nations.


Gov. Ademola Adeleke and Sen. Abubakar Bagudu, Minister of Budget and National Planning

He added that the theme of the summit was carefully crafted to restore and stabilise micro growth and economic development of the country.

According to him, the imperatives for restoring Nigeria on the pathway of sustainable economic growth and development is paramount for industrialisation and economic prosperity.

Bagudu appealed to state  governors, local government representatives and the entire citizens to support the federal government in fashioning and repositioning the country on the path of economic growth and development.

The minister commended Gov. Ademola Adeleke of Osun for accepting to host the meeting.

He said he’s had been briefed by the Permanent Secretary of the Ministry of Budget and Economic Planning, Mr Nebeolisa Anako, that about 30 commissioners or state representatives of budget and economic planning were in Osogbo for the meeting.

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Bagudu said that the  attendance demonstrated the importance of joint planning and the national council on development.

According to him, examples from countries that have achieved development have shown that planning played a crucial role in their economic take-off.

“Ethiopia, for instance, demonstrated that careful planning can deliver prosperity, with a growth rate of about 80 per cent for over a decade.

“Similarly, India, Korea, and other Asian countries have achieved success through planning.

“Given that Nigeria is a federation with provisions requiring federal, state, and local governments to lead through planning and  the constitutional provision for a joint planning board between the state and local governments,” he said.

Bagudu, who emphasised unity, said that diversity is not a distraction but a potential benefit.

He encouraged cooperation and recognition of common goals, likening the mindset to the creation of trade unions worldwide.

“In my humble view, we are the most important link in our federal setting.

“We are the ones with constitutional responsibilities for planning in the states and coordinating such planning with the federal government,” he said.

Earlier, Adeleke said the gathering showed  a reflection of diverse collective dedication to finding solution to the economic challenges facing the country.

The governor said the event was timely as the country was planning to navigate through the evolving economic landscape.

He said that Osun would continue to play its path toward ensuring economic prosperity through robust economic policies.

The governor urged participants to come up with immediate measures to help mitigate the recent ecomomic challenges confronting the nation.

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In his remarks, Mr Adebiyi Adewale, the Comptroller- General of Customs,  said the gathering would provide meaninful dialogue, insight and also foster partnership that would drive the country’s economy to greater heights.

He said resolutions and recommendations from the meeting would help restore Nigeria on the part of sustainable economic growth and development.

The News Agency of Nigeria (NAN) reports that the communique issued at the event of the meeting urged all 36 states and the FCT to examine their local peculiarities and fashion sustainable pathway through effective policies.

Also, national and sub-national governments were encouraged to invest heavily in human capital development to create high skilled manpower needed for rapid growth and development among others.

The event had in attendance government officials, civil society organisations, political representatives among key stakeholders in budget and planning.(NAN)

Edited by Victor Adeoti/Folasade Adeniran

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