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Recession: Buhari’s economic team meets financial experts

Nigeria's Vice President, Professor Yemi Osinbajo

Nigeria’s Vice President, Professor Yemi Osinbajo

The Economic Management Team met with top economists and financial experts in Abuja on Tuesday in continuation of its consultations towards tackling the economic recession in the country

The meeting, presided over by Vice President Yemi Osinbajo, had in attendance Mr Bismarck Rewane, Prof. Akpan Ekpo, Dr. Ayo Teriba, Prof Badeye Sani and Mr Bode Augusto.

The Minister of Budget and National Planning, Sen. Udoma Udo Udoma, told State House Correspondents after the meeting that the economic team was in the middle of consultations to develop a mid-term economic framework.

He said 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.

“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.’’

Udoma acknowledged that the Economic Team had met with some Non-Governmental Organisations (NGOs) last week and would hold similar consultations with members of the organised private sector.

The Minister 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.

“That was what this process was about,’’ he added.

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