Business & Finance

Presidency Announces Economic Retreat to Pull Nigeria Out of Recession


The Presidency has announced that President Muhammadu Buhari and his deputy, Yemi Osinbajo, will converge in Abuja on Thursday for a one-day retreat to search for ways to pull the country’s economy out of recession.

According to a statement from the Ministry of Budget and National Planning, the President would lead his deputy, ministers and heads of relevant federal ministries, departments and agencies to discuss steps to get the economy out of recession.

“The key objective of the retreat is to discuss the 2017 budget as well as discuss steps being taken to get the economy out of recession,” spokesperson of the ministry’s minister, Akpandem James, said. “The meeting is part of a scheduled arrangement to fine-tune and set the right parameters for the 2017 Budget.”

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“It (the meeting) will provide an opportunity to discuss the framework of the 2017 budget, the key priorities and the deliverables of the budget.

“The retreat is expected to deliver improved understanding of the measures being taken to get the country out of recession; improve synergy among the various ministries for enhanced implementation of planning and budget; and enhance knowledge of how to develop 2017 budget which is effectively linked with the medium term plan.

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