Stakeholders Braimstorm On Nigeria’s Economy Amid Insecurity, COVID-19

August 3, 2021
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Top policy makers and managers alongside private sector players have gathered in Maiduguri to braimstorm on how to move Nigeria’s economy forward amid challenges of insecurity and coronavirus pandemic.

Permanent secretaries and directors of ministries of finance across the federation are in Maiduguri for the 20th edition of the Joint Planning Board/National Council on Planning Development, organised by the federal ministry of finance in collaboration with the Borno State ministry of finance, budget and economic planning.

The development planning summit, which started on Tuesday with the theme, “Managing The Nigeria Economy For Sustainable Development In a Challenging Environment,” will last till Thursday when the Vice President, Prof. Yemi Yemi Osinbajo; Minister of Finance, Budget and National Planning, Dr. Zainab Ahmed, and the host, Borno State governor, Prof. Babagana Umara Zulum, will be participating alongside other stakeholders.

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Speaking at the opening ceremony, Borno State Commissioner of Finance, Budget and Economic Planning, Adamu Alhaji Lawan, said hosting of the dignitaries across the country goes to show that peace has returned to Borno State.

Lawan added that the meeting will boost the image of the state and boost confidence of the private sector.

“We are not just holding the summit, we will take all the participants to various locations of the State to showcase our industries so that those who want to engage with us in terms of private partnership will come in. This is avenue for the private sector to come in and see what we have in stock for them, so that we can partner,” Lawan said.

In his keynote address, the Secretary to the Borno State Government, Alhaji Usman Jidda Shuwa, said the theme for the economic summit is appropriately apt and couldn’t be more relevant in view of the daunting economic outlook currently facing the country and the formidable challenges associated with its management .

Shuwa noted that the most prominent and by far the most daunting of the challenges is the issue of insecurity, largely characterised by the seemingly unending Boko Haram/ISWAP insurgency and the emergent activities of banditry and kidnapping as well as socio-economic threats, such as mass unemployment, youth restivesness and deep rooted poverty.

“The negative effect of insecurity is widespread and all encompassing and has not only adversely affected economic growth at the macro level but has also compellingly devastated the economic livewire of our people at the local level such as farming, petty trading and inter-state commercial activities among others,” he added.

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