IBADAN (National Planning Commission Report) – The Minister of National Planning, Abubakar Sulaiman (Dr) has advised the States to develop contingency plans to complement the effort of the Federal Government should the oil price decline continue.
Abubakar Sulaiman gave the advice recently in Ibadan, Oyo State in his keynote address delivered at the meeting of the National Council on Development Planning (NCDP) which he presided over with the State Commissioners of Economic Planning as members of the Council.
“I am pleased to inform you that the National Planning Commission is working closely with the Federal Ministry of Finance and the Central Bank of Nigeria to develop a contingency plan at the national level. The States are also advised to develop their strategic plans as well as the associated contingency plans to complement the effort of the Federal Government. The Commissioners of Economic Planning are therefore expected to lead the process in their respective States,” he said.
“The decline in crude oil price from USD100 to USD80 per barrel in the recent past has the potential of affecting the economic performance of member nations, including Nigeria and by extension the States that rely on crude oil as major revenue receipts.”
He emphasized the need for cooperation among all tiers of government, in order to achieve the desired vision; adding that the Federal Government cannot do it alone, neither can the State and Local Governments. According to him, all the stakeholders need to work together to achieve common goals, enhance strategic planning, build resilience and synergize for progress to be brought to the people in the shortest possible time.
The National Planning Minister reassured that the Council meetings have over the years been most productive and the key outcomes and recommendations translated into government policies at the Federal and Subnational levels. As part of the efforts towards effective implementation of plans, he urged the State Commissioners of Economic Planning to work closely with the NPC to build the capacities of the officials of State Planning Commissions so that their strategic plans will be well coordinated, adequate and result-oriented.
Speaking on the need to build synergy with the States officials for effective policy plans, the Minister intensified that there is also a need to ensure that important legislations required to facilitate and institutionalize strategic planning at both levels are given rapid consideration.
In his address at the occasion, the Oyo State Governor, Abiola Ajimobi stressed the need for effective collaboration between the States and the Federal Government in addressing all matters of national development. He as well commended the National Planning Commission for driving laudable initiatives for the nation to achieve purposeful growth and transformative development. He further explained that the NCDP body was established in accordance with the National Planning Commission Act 1993 as the key statutory bodies constituted to facilitate and coordinate the economic development process at the Federal and Sub-national levels in the country.
On the meeting of the Council, he averred that it is expected to be held on bi-annual or annual basis and its recommendations are expected to serve as critical inputs to the meetings of the National Economic Council (NEC) under the Chairmanship of the Vice President of the Federal Republic of Nigeria.
Abiola Ajimobi stated that the Ibadan meeting of the NCDP, the second to be held this year with the theme: “Enhancing Strategic Planning for Transformative Development and Building Resilience” is apt, timely and reflective of the collective aspirations to transform the Nigerian economy for enhanced growth and development through initiating policies and programmes that are consistent with the Transformation Agenda and NV20:2020.
While underscoring the relevance of strategic planning, the Oyo State Governor indicated that strategic planning has over the years been universally recognised as a very useful reform-based management tool for economic governance. Adding, it serves as a veritable framework for the coordination of economic and social activities which take place at the national and sectorial levels, especially in developing economies or States where resources are limited with institutional weaknesses.
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