Thursday , October 21 2021

FG to develop 30years plans to boost economic growth – Finance Minister

The Minister of Finance, Budget and National Planning, Zainab Ahmed has revealed that the federal government has concluded plans to develop a 20-30years plan that will enhance economic and national development.

She stated this while responding to questions from newsmen during the presentation of the highlights of the 2020 budget proposal in Abuja on Monday.

According to her, there may be a new development plan which may be a 20-30years plan, and from it, there will be a 5year medium plan where the annual budgets will be drawn from.

“Just like the Economic Recovery and Recovery Plan (ERGP) that was a five years medium plan and will be expiring in 2020, the plan will be strategic a dwell cut so the budget can be drawn from it,” she said.

On how long the borders will be closed, the minister said only borders that are manned by federal government securities have been shut, adding that negotiations are ongoing with neighbouring Chad and the Benin Republic to identify the gaps so that the borders will be re-opened.

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The minister also added that the closure of the borders came as a result of breach in agreements by neighbouring countries.

Asked on how the federal government intends to implement the sanction of MDAs that are not captured under the Integrated Personnel Payroll Information System (IPPIS), the minister said, the staff will not receive their October salaries and subsequent salaries and will only be paid when the different agencies and department comply with the directive by President Muhammadu Buhari,”

She added that the staff of the ministry will not be sacked but their salaries will be withheld as the federal government plans to block revenue leakages with the introduction of the policy.

Earlier in his remarks, the Director-General of the Budget Office of the Federation, Ben Akabueze, said the government is committed to budget to January-December budget circle and also improve performance

“We have a cut out plan to return the budget circle from January-December as it remains our major commitment. Also, there will be a breakdown and highlight presentation of the budget to the public when the budget has finally been passed by the national assembly to identify the major changes in what was proposed and the adjustments by the national assembly,” he said.

Akabueze added that the Open Governance Partnership (OGP) which the government signed in 2016 is the reason for its transparency in its budgetary allocations and presentations for public scrutiny.

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