The Honourable Minister of Budget and Economic Planning Sen. Abubakar Atiku Bagudu (CON) has assured Nigerians that they will emerge from the present hardship to become prosperous and experience significant economic growth.

The Minister gave this assurance during the oversight visit by the House of Representatives Committee on National Planning and Economic Development yesterday.

The Minister noted that, the Economic reforms of President Bola Ahmed Tinubu (GCFR) were aimed at re-jigging the Macro-Economic Policy of the Federal Government to ensure increased revenue generation in addition to having a foreign exchange market that is rule-based and in the long run restore investors confidence. He re-assured Nigerians that the Federal Government was not unaware of their sufferings as efforts were being made to handle the vulnerable population and those adversely affected by the economic reforms.

He therefore called on the National Planning Economic Development Committee of the House of Representatives to critically review their mandate in order for them deliver on their objectives. He particularly commended the National Assembly for truly practicing democracy through unilaterally increasing the 2024 Budget.

Earlier, the Chairman of the House of Representatives Committee on National Planning and Economic Development, Rt Hon. Isiaka Ayokunle noted that the main aim of the oversight visit was to synergize with the Ministry in line with the 8-point agenda of the present administration.

According to him, the interface was meant to strengthen the country’s budget system for better economic growth, to attract investments and improve the overall well-being the Nigerians

A work plan/proposal on an effective budget process was presented to the Honourable Minister for possible incorporation to the Ministry’s work plan and budget. The Committee during the oversight visit examined the releases and expenditures on personnel, Recurrent and Capital Costs of the 2023 Appropriation year, Audited Accounts of the Ministry and Budget office, up-to-date key performance indicators (KPIs) in addition to the strengths/weaknesses and challenges encountered during 2023 reporting year.

 

 

Julie Osagie-Jacobs
Director Information (BEP)

7th March, 2024