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FG inaugurates macroeconomics policy group for V2020

By Henry Umoru
ABUJA- THE Federalgovernment yester  day inaugurated a macroeconomics policy group with a mandate to develop a macroeconomic frame work for the vision 20:2020, just as it has been charged to develop macroeconomic policies that will provide sustainable support for the short and long term imperatives of the vision.

President Yar Adua
President Yar Adua

Inaugurating the group in Abuja yesterday, Minister/Deputy Chairman, National Planning Commission(NPC), Dr. Shamsuddeen Usman noted that the all male group mainly consisting of university dons are expected to work at least five days in a week in the next three weeks if they must meet the set deadline of ensuring that the entire vision 2020 document would be launched by President Yar’adua in October 1st.

According to him, the group will answer such questions as   “What set of fiscal and monetary policies, kind of inflation rates, exchange rates, and tax systems and so on to be put in place to be able to realise the vision 2020”?

“What we have done so far is sectoral, like in Agriculture, banking, industry etc. we need to put a roof over them which is provided by the macroeconomic frame work.

“The second is that we have also put the Nigeria Economic Society to develop a model of the Nigeria Economy which is necessary to help implement the frame work.

“The international donor agencies in Nigeria came together and made a commitment of $4.3 million to the visioning course. They have also committed some of their expertise to help assist because they are happy to see Nigeria move forward.”

Some of the donor agencies are DFID, UNDP, World Bank, Japanese Agency, among others.The Minister disclosed that all the 29 thematic groups under the National Technical Working groups have turned in their reports while three have submitted from the 12 special interest groups which involve women, youths, people with disability, religious leaders and traditional rulers, adding that only five states have submitted their own vision document as required but gave assurances that others will do same before the dead line which according to him is a week away.

The group is chaired by Professor Akpor Ekpo of the University of Calabar and coordinated by Professor Mike Obadan of the Economics Department, University of Benin. Nextzon set to implement N2.8bn e-Cross River initiative.

Speaking with Journalists, Professor Obadan said “Growth rate of production, export, investment, trading and similar targets will be produced by the frame work, saying it provides a foundation for all other sectors being considered for the vision document. Our work will add value to the work others have done.”


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