The Ministry of Budget and Economic Planning has commenced the mid-term review of the National Development Plan 2021-2025, the Minister of Budget and Economic Planning, Sen. Abubakar Atiku Bagudu, has said.
In a welcome address at the 29th Nigeria Economic Summit (NES) held at the Transcorp Hilton Abuja, which was attended by President Bola Ahmed Tinubu, Bagudu said the review will incorporate the Renewed Hope Agenda and the 8-Point Agenda priority areas of the president, following approval obtained by the coordinating minister of the economy.
He said the Ministry, in collaboration with other stakeholders, is committed to implementing these plans, including the Agenda 2050, as an irreducible minimum of commitment by all parties.
Minister Bagudu highlighted the significance of the NES, stating that it has evolved into a model for effective public-private partnerships. He emphasized that the Nigerian constitution’s fundamental objectives anticipate cooperation between the public and private sectors, and that the development of short and long-term plans is a result of consensus between these sectors.
The minister commended the president for the recent institutional realignment of several ministries, particularly the Ministry of Budget and Economic Planning. This realignment has reinvigorated the ministry and enabled strategic planning for improved economic activity and growth.
The minister concluded by emphasizing the need for policy linkage and coordination in budgetary and planning processes to ensure Nigeria progresses and delivers on the promises of the president. He called for the active participation of all stakeholders.
The Nigeria Economic Summit is an annual event organized by the Federal Ministry of Budget and Economic Planning and the Nigerian Economic Summit Group. It brings together key stakeholders from the public and private sectors to discuss and strategize for the economic development of Nigeria.
