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 Bismarck Rewane, Prof. Akpan Ekpo, Dr. Ayo Teriba, Prof. Badeye Sani and 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 Medium Term Economic Framework (MTEF).
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.
“We just finished a special meeting of the Economic Management Team. As you know, we are in the middle of consultations to develop a new medium term economic framework.
Last week, we had meetings with NGOs, today we met some economists, we met with Mr. Bismarck Rewane, Professor Akpan Ekpo, Dr. Ayo Teriba, Professor Badayi Sani, and Mr. Bode Agusto, and they made presentations to the Economic Management Team on their response to the draft Medium Term Expenditure Framework (MTEF), which is still a consultative document.
So this 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 feedback in terms of how best to make sure that we come out of this recession; and that we get the best possible MTEF. The Fiscal Responsibility Act requires us to do so.
On Thursday (Aug 4), we will be meeting in Lagos with the private sector, to carry on with the consultations. So at the end we will come out with a programme that has received the buy-in of many Nigerians; and in which there has been wide consultation,” he said.
Speaking at the forum, Prof. Osinbajo said: “We will continue to engage with experts and other stakeholders so we can measure progress of the economic policies that have been put in place. The challenges are many but the opportunities are much greater, we are clearly on the path to building an economy that will create jobs and ensure inclusive growth”.