PRESIDENT Mohammadu Buhari’s administration will hold an
economic summit on Monday and Tuesday in the Presidential Villa, Abuja towards deliberating
on the enormous economic challenges facing the country.
The summit being convened by the National Economic Council
(NEC) will be presided by the Vice President, Professor Yemi Osinbajo who is
also the chairman of council alongside all the 36 state governors of the
federation.
The statement also indicated that President Buhari will
deliver a keynote address at the event to formally open the session on the
first day, according to the statement by the Senior Special Assistant to the
Vice President, Mr. Laolu Akande.
Others expected at the event are the governor of the Central
Bank of Nigeria (CBN), Mr. Godwin Emefiele, Minister of Budget and Planning,
Udo Udoma, among other public officeholders.
On the retreat, the statement emphatically shows that the
core objective is to stimulate local production, cut costs as much as
practicable and enhance public revenues among other measures adding that it was
not a declaration of state of emergency on the economy.
“The objective of the NEC retreat is to provide a forum for
in-depth discussions by NEC members of the policy actions that the states and
the federal government can consider in order to stimulate local production, cut
costs and enhance public revenues among other measures to stimulate the
economy.
“Contrary to suggestions, the retreat is not an emergency
national economic conference. The idea was mooted at the last regular NEC
meeting in January, where members requested an intensive session to review
economic trends and evolve strategies to cope.
The summit was earlier fixed for March 10 and 11 but later
postponed", the statement emphasized.
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