FG presents draft MTEF to governors

 

Olalekan Adetayo, Abuja

The Federal Government on Thursday presented a draft of the Medium Term Expenditure Framework 2018-2020 to the National Economic Council with a view to getting the contributions of state governors.

The Minister of State, Budget and National Planning, Zaynab Ahmed, disclosed this to State House correspondents at the end of a meeting of the council presided over by the Acting President, Yemi Osinbajo, at the Presidential Villa, Abuja.

Ahmed said the council was informed of the overriding need to return the budget cycle to the January-December calendar year.

She noted that the 2018-2020 MTEF was anchored on the government’s Economic Recovery Growth Plan that was launched recently by President Muhammadu Buhari.

The minister said although the country was gradually getting out of recession, there are still some challenges that may impact negatively on growth till 2020.

The challenges, according to her, include policy changes in the United States and Britain’s exit from the European Union, climate change and oil price fluctuations, among others.

She said, “The council was assured that the country is already getting out of recession even as oil prices are still sliding. The non-oil sector is growing.

“Recoveries are being recorded in manufacturing, agriculture and services.

“Efforts aimed at achieving peace in Niger Delta are yielding fruits. The ERGP key objectives and the execution priorities will get the country back to growth.”

The Minister of Industry, Trade and Investment, Dr. Okechukwu Enelamah, on his part said he briefed the council on the need to ensure that the Enabling Business Environment Reforms being carried out at the federal level is extended to the remaining tiers of government.

Enelamah said appropriate templates were already being prepared to get states ready of the exercise.

He disclosed that a steering committee had been constituted to ensure synergy across all stakeholders.

The Council was also briefed by a committee set up to monitor challenges of implementing projects in states.

Ahmed said she told council that the committee monitored 27 States and it was

noticed that intervention funded and partnership projects between states, Federal Government or development partners were successful.

The NEC also received a report from a committee set up on the Ecological Fund which is headed by the Kaduna State Governor, Nasir el-Rufai.

The committee approved stringent criteria for the disbursement of the Fund to states.

The Abia State Governor, Okezie Ipkeazu, said the Accountant-General also briefed the council on the balances in the some accounts.

They include Excess Crude Account ($2.303bn); Ecological Fund Account (N27.466bn); Stabilisation Account (N2.553bn) and Development of Natural Resources Account (N77.922bn).

Source: Punchng
FG presents draft MTEF to governors

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