The Minister of Budget and Economic Planning, Senator Abubaker Atiku Bagudu, has reaffirmed the Federal Government’s commitment towards confronting the economic realities of the country by generating more revenue and undertaking significant multisectoral and bilateral cross-cutting engagements on key sectors. Bagudu made this known recently, in Abuja, while speaking at a Consultative Meeting on Economic Opportunities under the Nigeria-Austrian Development Partnership,

In his speech, the minister also disclosed that the meeting was to demonstrate the enormous capacity potential of Nigeria in terms of infrastructure, services, talent development and provide the latitude for a possible mutually rewarding and profitable partnership. ‘We will ensure we have proven companies that will blossom our migration relationship that will be a model for other countries to emulate’

He noted that the combined effect of subsidy removal and some fuel- market reforms had seen revenue proportion of GDP moving from 9% to 15%. “With this reading, there is significant improvement and those in the finance sector can testify that it is not an easy task” He expressed confidence that, given Nigeria’s productive capacity and vision, the country could do more if the Private sector could support.

Having the Private sector cooperation, according to him, was the reason why Mr. President charged all members of his cabinet to engage, listen and appreciate what the private sector was doing in order to enable the government partner with them and move the country forward.

He further said that the institutionalization alignment of the private companies, brought about the creation of Ministry of Finance Incorporated, tasked to oversee Private sector efficiency.  Speaking on illegal migration, Bagudu emphasized: ‘we do not want our children to leave the country out of pressure. We want them to go out legally out of choice and participate in progressive economic activities. Nigeria has a shared conception of development that shows that legal migration policy is mutually beneficial to all’. ‘Equally, Nigeria is poised to appreciate how the world is evolving, encouraging global citizenry, in that, all opportunities that involve doing well together is enhanced’.

In his remarks, the Director General of the International Centre for Migration Policy Development (ICMPD) Vienna, Austria, Dr. Michael Spindelegger, noted that Nigeria was one of the countries that Austria would like to support and work intensively together with, in the future, considering her enormous opportunities.

Condemning illegal migration, he pledged the commitment of Prosper Africa company and ICMPD to support Nigeria in the areas of: new technology development, waste management, Energy, training and skill acquisition. He also discussed the possibility of opening up of legal market for Nigerian youths to learn, work and start small businesses, language training for easy acceptability by different European countries through legal part ways with financial support through bonds and stock exchange from the Austrian private sector through the collaboration of Nigerian Ministry of Interior.

Spindelegger therefore seized the opportunity to invite the Minister to Austria, in order to intensify bilateral talks, visit the Stock exchange market and fashion out ways of how to use the bonds and other available funds for the benefit of Nigerians.

Still on curbing illegal migration, the Minister of Humanitarian Affairs and Poverty Reduction, Prof. Nentawe-Yilwatde Goshe, said it was important to seek the cooperation of the National Commission for Refugees, Migrants and Internally Displaced Persons and to provide local services needed along the legal travel part ways.

Also speaking, the Minister of Women Affairs, Hajia Imaan Sulaiman Ibrahim, opined that exchange of technology and acquiring skill on cotton production, processing and livestock farming could boost industrial revolution, exchanging armor cars with power and export, taking advantage of Nigeria’s large population which, she said, was not only reliable but dependable. This reverse could replace the current challenge of brain- drain with brain –gain, she stressed.

The meeting was aimed at facilitating opportunities to deepen economic relations between both countries and strengthen collaboration on legal migration, combating human trafficking, better management of migration and green financing which aligns closely with Nigeria’s national development priorities.

Other dignitaries in attendance were:  The Executive Director, Portfolio Management, Ministry of Finance Incorporated, Tajudeen Ahmed, representatives of Ministries of Finance, Environment, Interior, Youths and the Austrian Ambassador designate to Nigeria, Peter Guschelbacher, among others.

 

Imaobong Udoh

For: D/Information & PR

BEP