President Muhammadu Buhari, is making fresh moves to alleviate the deep recession currently affecting the Nigerian economy. He has ordered some federal Ministries, Departments and Agencies (MDAs) to slice their capital allocation in the 2017 budget.
Speaking on Thursday, while declaring open a ministerial retreat on the economy and the budget with the theme: “Retreat which is Building Inter-ministerial Synergy for Effective Planning and Budgeting in Nigeria,” at the Banquet Hall of the Presidential Villa, Abuja, he said this was necessary to refocus priorities.
The MDAs, Buhari stated, have not benefited significantly from working together and building consensus around common national objectives.
This, according to him, has impeded growth and development of the country.
Buhari stated that the retreat was, therefore, designed to discuss issues around the state of the economy and build consensus amongst cabinet members and top government officials, as well as serve as an opportunity to have a general overview of the economy and discuss the framework for the 2017 budget, its key priorities and deliverables.