Buhari’s economic team ‘retreat’ to stimulate economy

The National Economic Council (NEC) says it would hold a two-day retreat next week in order to stimulate the Nigerian economy.

The retreat is set for Monday, March 21 to Tuesday the 22nd to steer out policy actions for states and the federal government.

In a statement by the Laolu Akande, senior special assistant on media and publicity to the Vice President, the team said President Muhammadu Buhari would deliver the keynote address during the formal opening session on Monday.

Akande added that this is by no means the emergency economic conference as suggested by some parties.

“The objective of the NEC Retreat is to provide a forum for in-depth discussions by NEC members of the policy actions that the state and federal governments can consider in order to stimulate local production, cut costs and enhance public revenues among other measures to stimulate the economy,” he said.

“Contrary to suggestions, the retreat is not an emergency national economic conference. The idea was mooted at the last regular NEC meeting in January, where members requested an intensive session to review economic trends and evolve strategies to cope.”

Akande said the Vice President and chairman of NEC, would preside over the retreat with governors from the 36 states of the federation attending.

Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), and the budget and national planning minister, Udo Udoma, are among other top government functionaries expected to speak at the retreat.