EU SUPPORTS IMPLEMENTATION OF THE NATIONAL ECONOMIC POLICIES PROJECT (EU-SINEP)
Minister of State, Budget and National Planning, Prince Clem Ikanade Agba, has described the European Union Support to the implementation of the National Economic Policies (EU-SINEP) as an important milestone in expanding the frontiers for excellence by the Ministry for the delivery of one of its key mandates of the National Development Planning.
The Minister made the observation while flagging off the EU-SINEP in Abuja on Tuesday.
In his keynote address on occasion, Prince Agba commended the EU delegation for facilitating the approval of the Financing Commitment for the Technical Assistance.
He also stated that the project was conceived as a support measure under the 11th European Development Fund (EDF) National Indicative Programme (NIP) in demonstration of the EU’s commitment for the promotion of government’s effectiveness, capacity development and service for sustainable growth and poverty reduction in Nigeria.
Agba said: “I wish to therefore extend the deep appreciation of the Government and good people of the Federal Republic of Nigeria to the EU for the strong support and assistance, which brought this project into fruition.
“The EU-Support to implementation of National Economic Policies Project is not the usual one-off capacity building programme. The support goes beyond the organization of traditional training sessions to include: on-the-job mentoring, coaching and backstopping of personnel for delivery of key tasks’’.
“At a time when the Managers of the economics of various nations-states are reviewing their processes, approaches and modalities to cope with the uncertainties arising from the COVID-19 pandemic, the Technical Assistance Project is critical to supporting our efforts in instituting enduring economic policy frameworks required to build-back better for resilience.
“it is gladdening to note that the overall objective of the 11th European Development Fund Support to Public Outreach , which this project is a part of, is to strengthen operational structures, address capacity gaps, as well as provide tools for better outcomes in the implementation of key development initiatives piloted by the Federal Ministry of Finance, Budget and National Planning.
“Besides facilitating the review and preparation of strategic and sectorial plans, the project is expected to support the elaboration of identified opportunities to accelerate new investments for critical projects as well as evolve frameworks for the resolution of complex inter-agency problems inhabiting private investments in our economy.
“Though the Project has a modest financial outlay and a short implementation period, it is very evident that the outlined activities to be undertaken are sufficient to be undertaken are sufficient to make a difference as they are designed to catalyze positive action in different aspects of our economy.
“In consideration of the activities earmarked for the implantation of the EU-Support to implementation of National Economic Policies Project, opportunities abound to apply the lessons to be learnt and results to be achieved towards developing and implementing proven initiatives using national budgetary resources.
“In this regard, I am confident that the skills and lessons to be acquired in the Project’s Component for documentation of the EU infrastructure project in various communities across the country would be applied in articulating a comprehensive database or digital map of the total infrastructure stock in Nigeria.
”This is desirable for evidence-based decisions in harnessing the full potentials of our investment in infrastructure over the years. Another area of interest in the Project is the planned activities for strengthening the framework for economic and fiscal sustainability both at the national and sub-national levels.
“This is germane for the harmonization and strengthening of our systems for appropriation and commitment of budgetary resources for fiscal stability and inclusive growth. We will continue to engage the citizens towards removing the legacy challenges on our fiscal capacity,” the Minister added.
The Minister also commended the implementing Partner, Messrs IBF International Consulting, SA and the Technical Assistance Team for steering the project from the inception phase to the implementation stage.
In a goodwill message, Head of Cooperation, EU Delegation to Nigeria and ECOWAS, Cecile Tassin Pelzer disclosed that the EU was supporting the implementation of the EU-SINEP project with the sum of 1.125 million Euros.
Earlier, the Director General National Bureau of Statistics, (NBS) Mr Adeyemi Adeniran stated that NBS had a long-standing relationship with the European Union (EU) and was glad to be part of the new project, adding that NBS was a beneficiary of the EU Support to Federal Government reform in Nigeria (SUFEGOR) project, under the European development fund (EDF) where NBS was able to complete very critical activities that were key to the development and progress of the statistical system in Nigeria.
He said that the NBS, looking at the overall objectives and purpose of this project being flagged off today, had no doubt that EU-SINEP would do the same and even more as all stakeholders concerned would ensure that the purpose of the project would be fully achieved and realized within the lifespan of the project.
22nd August, 2022