Federal Government has invited experts to work on its Medium Term National Economic Plan. This is in a bid to ensure the country gets out of its current economic crisis.
The team is expected in Abuja from Friday to brainstorm and fine-tune the 2017-2019 Medium Term Expenditure Framework, MTEF. MTEF is being developed by the Ministry of Budget and National Planning and set for publication next month.
Why We Need Experts
Minister of Budget and National Planning, Senator Udoma Udo Udoma further explained the rationale behind the engagement of the experts.
According to him, the process began with the 2016 Budget and subsequent publication of the SIP. An economic management team had been set up with the Vice President, Prof. Yemi Osinbajo, in charge.
Udoma further disclosed that the experts have been invited to take part in the budget process. This is with a view to making the national budget richer and more beneficial to the nation.
He added that the outcome of the deliberations would form the basis for the economic plan to be made public in December.
“We came in focusing on the economy, corruption and security and worked out a plan and started off with the 2016 budget to reflate the economy. Then, we moved on to the Strategic Implementation Plan, SIP, of the budget.”
Udo Udoma said the SIP has been widely acclaimed as impressive by economic experts and international fiscal agencies. However, he regretted that the document was not publicly launched with fanfare.
The experts include Prof. Akpan Ekpo; Prof. Olu Ajakaiye; Prof Joe Umoh; Dr. Obadiah Mailafia; Dr Ayo Teriba; Dr Dotun Sulaiman; Dr Ayo Salami; Mr Boda Agusto; Mr Bismarck Rewane; Mr Frank Nweke; Engr Mansur Ahmed; and Mrs Adepeju Adebajo.