Highlights of Ministerial Performance Review Retreat: Day One  

12 Oct Highlights of Ministerial Performance Review Retreat: Day One  

Secretary to the Government of the Federation, Boss Mustapha, said the retreat, which outcome is expected to pave the way to accelerate the delivery of government policies, programmes, and projects over the remaining 19 months, would be solution driven and participatory in nature.

# President Buhari, who will actively participate in the 2-day retreat, declared it open with an address which broke news on many issues.

*He highlighted some of his notable accomplishments in infrastructure, transportation, economy, electricity supply, the petroleum industry, among others, and assured Nigerians that the 11.9km Second Niger Bridge, 120 km Lagos-Ibadan Expressway and other key projects under the Presidential Infrastructure Development Fund (PIDF) would be completed within the second term of this administration. The Fund was also established in 2020 with more than USD 1Billion in funding.

* He instructed the Ministry of Defense to create a modest military industrial complex for the local production of weapons to meet some of the requirements of the country’s armed forces.

* The administration has made tremendous progress on railway projects in the country, noting that upgrading of the railway network is being extended

* The execution of critical projects, through the Transmission Rehabilitation and Expansion Programme, will result in achieving the national goal of improved power supply by 2025.

* As part of the efforts towards strengthening national security, FG approved N13.3 billion for the take-off of the Community Policing initiative across the Country.

* He insisted that the Implementation Committee should complete all processes for the successful operationalization of the Act within 12 months.

*The expansion of the National Social Register (NSP) by 1 million additional households; and establishment of the N75 billion Nigerian Youth Investment Fund will address poverty and boost the economy through leverage and access to finance for youths.

*He warned all ministers and permanent secretaries to take seriously all issues relating to the implementation of their mandates towards the attainment of the laudable objectives of the government.

*He also unveiled the Presidential Priorities Performance Management System, which had, since January this year, provided him the opportunity to track projects in real-time with live data.

# Vice President Yemi Osinbajo reported on the Economic Sustainability Plan (ESP), highlighting successful outcomes and problems that have delayed an even better implementation of the N2.3 trillion post COVID-19 stimulus package.

* He said with the Sustainability Plan in place, revenues improved despite oil production issues, while macroeconomic indices are trending in the right direction; but he lamented that the CBN and the banks have delayed in releasing much of the funds causing implementation delays in the Agriculture, Solar Power and Social Housing sectors.

* Noting that the current official rate at N410 is not a realistic reflection of the nation’s economic realities, he canvassed review of the naira exchange rate to reflect the realities of the foreign exchange market; and a rethink the current demand strategy.

* The African Development Bank, Akinwunmi Adesina, said although Nigeria’s debt to the GDP remains moderate at 35 percent, the government must decisively tackle its debt challenges if it will grow the economy because the debt service to revenue ratio of Nigeria is high at 73%.