Modupe Gbadeyanka
By Modupe Gbadeyanka
The federal government has vowed to continue to make critical investments in the key sectors of the nation’s economy as part of efforts to keep it vibrant.
Nigeria is battling to prevent another recession in four years following a reduction in the inflow of foreign exchange (forex) into the country.
The country relies heavily on the sale of crude oil to earn forex, but the COVID-19 crisis in 2020 has caused a sharp decline in the price of oil, affecting revenue.
It is believed that Nigeria may slide into a recession this year and to possibly prevent this from happening, the government is embarking on several programmes to keep the economy afloat.
The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, while speaking at a retreat held for aides of Ministers, said the government will do everything within its powers to keep the economy running.
“The federal government will continue to make critical investments in key sectors including agriculture, infrastructure, health and education.
“To achieve this, the challenge of domestic revenue mobilisation must be overcome in part through continued incremental fiscal reforms and reduced cost of governance,” Mrs Ahmed said at the three-day workshop and civic-education program taking place in Abuja.
The virtual capacity building exercise is organised for Special Advisers and Technical Assistants of the Ministers in the country.
According to the Finance Minister, the federal government was committed to ensuring an inclusive, sustainable and resilient economy.
Mrs Ahmed expressed pleasure at the solution and process-oriented programme with an emphasis on hands-on collaborative learning keyed towards Nigeria’s current needs in government.
She stated that aides play an “important; supportive role in the design and implementation of policies aimed at ensuring an inclusive, sustainable and resilient economy, in line with government priorities.”
The Minister noted that the workshop was timely in the wake of the COVID-19 pandemic, drop in oil prices, implementation of the recently approved Economic Sustainability Plan and the ongoing 2021-2023 Medium Term Expenditure Framework and Fiscal Strategy Paper.
She added that the work of the Special/Technical Advisers was important now more than ever for the post-COVID-19 economy, as the ministry works to lessen the impact of the looming recession.
She mentioned that the federal government was working collaboratively across MDAs to address cross-cutting issues like poverty reduction, partly through enabling the private sector and prioritizing human capital development.
In her closing remarks she shared a call to action to focus on institutionalizing people-centred, cost-effective and innovative solutions through a “whole-of-government” approach; working hand in hand with citizens, CSOs and the private sector.
She encouraged the aides to reflect on the type of legacy they would want to leave behind while contributing to the nation’s development and appreciated all partners for their contributions towards making the workshop a reality.
The workshop commenced on July 19, 2020, and was organised in collaboration with the Ministry of Finance, Budget and National Planning, German Embassy and Konrad-Adenauer-Stiftung Foundation (KAS).
The event will offer participants a deeper insight into various aspects of public service which include Open Governance, Strategic Planning & Communication, Public Policy, Policy Analysis amongst others while promoting a unified approach across Ministries, Departments and Agencies (MDAs).
