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Expert berates FG for delay in designing Economic Recovery Plan

Lagos Economist and fiscal analyst, Dr. Ken Igboango has chided the Minister of State for National Planning, Mrs. Zainab Ahmed for telling Nigerians that government will release a document that will be the roadmap for the recovery of the economy.

In a telephone interview shortly after the Minister made the comment in Abuja, Dr. Igboanugo said “A government that is serious in easing recession need not to delay the presentation of a recovery roadmap for the private sector to key in”.

“The danger of the delay is that the more time goes, the more we are very close to depression which is more fatal to a nation than recession. If the government cannot release a quick roadmap for a mere recession, can the same government fight or stand in the face of depression.

He therefore advised the Ministry to cut short the time for the release of the docu,ment so that the private sector will key in because the government can only draw policy while the private sector will drive it to maturity.

It would be recalled that the Minister of State for Budget and National Planning, Mrs. Zainab Ahmed, had yesterday said that the national economic recovery plan for the next three years will be ready between December and next year.

She explained at an economics communications workshop in Abuja on Thursday that the plan would serve as a guide for the preparation of annual budgets and would be a continuation of the initiatives contained in the Strategic Implementation Plan for the 2016 budget.

According to her, the plan will clearly state the economic policies of the government that will guide the investment decisions by domestic and foreign investors.

In her views, “The plan is expected to build on the policies, initiatives, programmes and projects contained in the Strategic Implementation Plan for the 2016 budget. The economic recovery plan is expected to guide the economic management and budgeting process over the short to medium-term.

“Government will continue to put in place policies to expand the revenue base, plug leakages in the system, ensure greater transparency and accountability in the use of public funds, pursue job creation and support businesses and investments, especially local investments to grow.

“Approach adopted for the preparation of the plan is highly participatory and all-inclusive, with the private sector being actively involved in the process.”