Minister Stresses Role Of Societies, Associations In Fostering Economic Growth

Minister Stresses Role Of Societies, Associations In Fostering Economic Growth

The Minister of Budget and Economic Planning, Sen. Abubakar Atiku Bagudu CON, has emphasized the vital role of societies and associations, such as the Nigerian Economic Society, in shaping national policies and fostering economic growth

He highlighted the collaborative efforts between the Ministry and the Nigerian Economic Society (NES) and underscored the need for continuous improvement and exploration of innovative strategies to address national economic concerns, during a courtesy visit to his office today, 18th March, 2024 in Abuja.

Sen. Bagudu acknowledged the challenges faced by the country and emphasized the importance of generating public discourse and support for strategic initiatives. He encouraged the exchange of ideas and research findings to inform policy decisions and enhance public understanding of ongoing economic reforms.

Furthermore, the minister stressed the significance of cross-country experiences in garnering support for national reforms. He pointed out the need for effective communication and public engagement to address misconceptions and foster confidence in policy measures.

He outlined the need for critical partnerships aimed at fostering public awareness and participation to prevailing economic challenges facing Nigeria.

Reiterating the Ministry’s commitment to implementing necessary measures, such as, the removal of oil subsidy and market reforms to stimulate economic growth and mitigate challenges, he said constructive feedback and guidance from stakeholders to ensure the effectiveness and sustainability of policy interventions, were welcomed.

The minister also called for sustained support for ongoing reforms, citing examples from global economic trends and historical experiences. According to him, this will ensure data-driven decision-making and informed public discourse on economic issues, ultimately enshrining transparency and evidence- based policy formulation in addressing the country’s economic challenges.

In his speech earlier, Pof. Adeola Adenikinju requested the Ministry’s participation in organizing the upcoming NES conference in September 2024 and becoming an institutional member of the society, stating that, it would enhance the Ministry’s professionalism.

He said the objective of the visit was to seek collaboration between NES and the Ministry on national development plans and emphasized the readiness of NES members to contribute to the country’s economic solutions. He expressed concern over the exclusion of intellectuals from major government committees and advocated for their inclusion.