Theme: Nigerian States:
Multiple Centres of Prosperity
The
following are highlights of the just concluded NEC Retreat:
1. Agreement reached for
concerted and consistent efforts to diversify revenue sources
2. Expand compliance on VAT,
adopting a gradual plan for rate increase
3. Increase expenditure
through borrowing, which should be invested in infrastructure
4. Federal and State
Governments to focus on fiscal responsibility as a critical element in
macro-economic balance
5. Increase investment
in infrastructure through public private partnership (PPP)
6.Develop financial inclusion
strategies to cater for the poor and vulnerable population
7. Maintain a minimum level
of capital expenditure of 30% in the budget
Thematic
Areas
Agriculture
1. The Federal Government to
re-position Bank of Agriculture to enhance its capacity to finance
agriculture.
2. Funding for Agricultural
sector is considered critical and sources of intervention funding from the
Central Bank of Nigeria should be considered
3. A single digit interest
rate for agricultural loans should be considered while duties and taxes for
Agricultural products and equipment should be waived
4. Develop strategic
partnerships between Federal and State government. Each State should make
specific commitments to crops in which it has comparative advantage and request
Federal Government intervention
5. National targets for
self-sufficiency should be set for identified crops, which should be
monitored. Tomato paste – 2016, Rice – 2018, Wheat – 2019
6. The Federal and State
Governments should roll out agricultural extension services nationwide
7. The Commodity Exchanges
should be established for price regulation and avoidance of losses due to lack
of markets. The Abuja Commodity Exchange should be revitalised
8. The National Agricultural
Land Development Authority (NALDA) should be re-established
9. Federal Government should
develop an Agriculture Implementation plan whereby State Governments are
encouraged to identify at least two crops in which they have comparative
advantage
10. States should open up of
rural/feeder roads to facilitate transportation of agricultural produce to be
supported by the Federal Government
11.The Federal and State
Governments should establish minimum price guarantee for farm produce
12.The Federal Government
should provide immediate funding to upscale efforts of Agricultural Institutes
of Research and Development across Nigeria
13. State Governments should
also be encouraged to fund research and development in agriculture through technical
colleges, universities and research institutions
Thematic
Area – Solid Minerals
1. Ministry of Solid Minerals
Development to complete and present the solid minerals development roadmap.
This framework should address issues of illegal miner, licenses, taxes and
royalties by 31st March 2016
2. Federal government to
engage with state government on the roadmap and agree any amendment that may be
required by 30th June 2016
3. Initiate relevant
legislative changes that maybe necessitated by the agreed roadmap by 31stJuly
2016
4. Conclude the
revalidation/recertification of all mining leases by 30th September
2016
5. Agree with states and
local government on respective responsibilities for developing feeder roads and
other critical infrastructure for solid minerals development
6. Federal Government and
States to set deadlines to achieve self-sufficiency in Bitumen/Asphalt and
tiles (to discourage/stop importation)
7. Make and communicate final
decisions on operationalization of Ajaokuta steel plant by 30th June
2016
8. Establishment of joint
committee to address issues of data on quantity and quality of minerals
exploited and exported
9. Setting up of mining
cadastral zonal offices for proximity to States for the purpose of issuing
licenses and easy monitoring by States
10. Discourage use of wood
for cooking by promoting use of coal briquettes
11. Guarantee access to
finance solid minerals development via intervention funds and private sector
capital
12. Block revenue leakages in
the sector through effective monitoring of activities in the mining sector
13. Organise
artisanal/small-scale miners as a mechanism for reducing illegal mining and
Establish Mines Surveillance Taskforce by September 2016
Thematic
Area – Investment, Industrialisation and Enabling Monetary policies
1.Ministry of Industry, Trade
& Investment (MITI) to develop a matrix of actions to be taken by Federal
and State Governments towards achieving the targeted improvements in Ease of
Doing Business ranking by 30th April 2016
2. Present an incentive
scheme for States taking actions towards improvement of the investment climate
in their States including grants by 30th September 2016
3. Forge strong links between
the Nigeria Investment Promotion Commission (NIPC) and the State Investment
Promotion Agencies
4. States to collaborate more
actively on regional basis on investments and industrialization
5. The Federal Government
should work with the States and other stakeholders to create an enabling
environment for trade and investment through the implementation of the Nigerian
Industrial Revolution Plan (NIRP) to encourage industrialization
6. Make environment conducive
for the Micro, Small & Medium Enterprises to create jobs for the unemployed
and undertake deliberate policies to create access to funds
7. State and Federal
Governments must emphasize the patronage of “Made in Nigeria” products. “Import
competition” rather than “import substitution” should be emphasized
8. Governors to set up task
forces to monitor implementation of trade/ investment policies and strengthen
planning institutions by linking federal and sub-national planning; in this
regard, a monthly meeting between the Minister of Budget & National
Planning and State Commissioners for planning will be institutionalised
9. States to set up one-stop
shop for investors where they do not currently exist to attract investment and
improve on IGR Safeguard competitive market economy
10. Promote regional
cooperation on investment and industrialisation
11. Implement institutional
and structural reforms as a way of improving the efficacy of monetary policy
including greater consultation with the National Economic Council
12. Predictability and
consistency of the Central Bank of Nigeria’s communication to key stakeholders
is required to manage expectations
13. The Central Bank of
Nigeria should carry the States along in some of their reforms in areas of SMEs
and Agricultural funding initiatives
14. Long-term development
goals should anchor policy decisions
15. Effective regulation
& supervision to improve confidence in the soundness and stability of the
banking system
Thematic
Area – Infrastructure and Services
1.Develop infrastructure
delivery plan considering current financial capabilities driven principally by
the goal of improvement of the quality of life for the populace
2.Develop financing model for
infrastructure projects
3. Integrate training and job
creation components in infrastructure projects
4. Implement empowerment and
entrepreneurship policies to foster inclusive growth
Thematic
Area – Investing in our people
1. Federal and State
Governments to work collaboratively to ensure sustainability of the school
feeding and other social protection programmes
2. Cooperation from the
States’ Ministries of Education and State Universal Basic Education Board
(SUBEBs) for the Teacher Corp program
3. Provide logistics support
on the proposed upgrade of 75 existing National Directorate of Employment (NDE)
facilities (across the various States) to Empowerment Centers
4. Cooperation and
coordination with the States on their specific job creation efforts
5. State Government support
on identified needs such as infrastructure and/or space for innovation hubs
6. State Government support
for artisan training, scoping and support for existing artisan cultures, use of
existing training facilities
7. Institutionalize a single
register as a platform for targeting the authentic poorest and vulnerable for
safety net programs; for government, donor agency, organizations or individuals
8. Creating a delivery
mechanism that ensures efficient, consistent timely and direct payments in the
remotest parts of the country
9. Boost productivity and
financial inclusion for the poorest and most vulnerable
Thematic
Area – Revenue Generation and Fiscal Stability
1. There is need for
deliberate effort to generate relevant data on the respective economies of the
states and the nation generally in order to drive revenue generation
2. FIRS and SIRS need to
invest in relevant technology to support efforts to improve tax collection
3. There is a need to develop
incentive schemes for federal and state revenue generating agencies
4. FIRS and SIRS need to
actively collaborate on initiatives to improve tax collection, including joint
audits of major corporate tax payers
5. All state governments are
encouraged to establish efficiency units to review/enhance the quality of
expenditure as well as plug revenue leakages
6. Focus on property and
consumption taxes will help in improving revenues in a fair manner
7. Tax-payer education should
be intensified to expand the tax base and avoid political back-lash from
intensifying tax collection
8. State Government are
encouraged to rationalise number of Ministers, Commissioners and Permanent
Secretaries
9. Cost control measures
should be identified and implemented on an ongoing basis; in this regard
various examples from Nigeria and other countries are recommended
Thematic
Area – Survival of States and Beyond
1. Strengthen States Peer
Review Mechanism under auspices of the Governors Forum and the National
Economic Council (NEC) to promote sharing of good practices between the Federal
and States Governments
NEC RETREAT - IMPLEMENTATION
STEERING COMMITTEE FORMED:
• To oversee the work
of the implementation committee
• To provide
appropriate steers to the Implementation Monitoring Committee to ensure that
the resolutions agreed at the retreat are duly followed up
HE Prof. Yemi Osinbajo
Vice President and Chairman
of NEC
Chairman
HE Abdulaziz Y. Abubakar
Chairman, Nigeria Governors
Forum and Governor of Zamfara State
Member
HE Adams Oshiomhole
Governor of Edo State
Member
HE Abdulfatah Ahmed
Governor of Kwara State
Member
HE Rauf Aregbesola
Governor of Osun State
Member
HE David Umahi
Governor of Ebonyi State
Member
HE Badaru Abubakar
Governor of Jigawa
State
Member
HE Mohammed Abubakar
Governor of Bauchi
State
Member
Sen. Udoma Udo Udoma
Hon. Minister of Budget and
National Planning
Member
Mrs. Kemi Adeosun
Hon. Minister of Finance
Member
Dr. Okechukwu Enelama
Hon. Minister of Industry,
Trade and Investment
Member
Chief Audu Ogbe
Hon. Minister of Agriculture
Member
Dr. Kayode Fayemi
Hon. Minister of Solid
Minerals
Member
Mr. Babatunde Fashola
Hon. Minister of Works, Power
and Housing
Member
Mrs. Nana F Mede
Permanent Secretary, Ministry
of Budget and National Planning
Secretary
NEC RETREAT - IMPLEMENTATION
MONITORING COMMITTEE FORMED
• To follow up the
implementation of the resolutions of the retreat
• To receive steers
from the Steering Committee regarding the follow up of the implementation
• To provide progress
reports to the Steering Committee on the implementation
NAME
DESIGNATION
ROLE
Mrs Zainab S. Ahmed
Hon. Minister of State,
Budget and National Planning
Chairman
Mrs Yosola Akinbi
Senior Technical Adviser to
the Vice President on the National Economic Council
Member
Mr. L.O.T. Shittu
DG, Nigeria Governors Forum
Member
Mr. David Olofu
Commissioner for Finance and
Planning, Benue State
Member
Mr. Mohammed Kauji
Commissioner for Finance and
Economic Planning, Borno State
Member
Dr. E.A. Onwiodokif
Comm. for Economic Planning,
Akwa Ibom State
Member
Mrs. Aisha M. Bello
Comm. for Budget and
Planning, Kano State
Member
Mrs. Aderenle Adesina
Commissioner for Budget and
Planning, Ogun State
Member
Mr. Mark Okoye
Special Adviser, Economic
Planning and Budget, Anambra State
Member
Mr. Tunde Lawal
Director, Macroeconomic
Analysis Department, Fed. Min. BNP
Member
Mr. Kayode Obasa
Director, Economic Growth,
FMBNP
Member
Mr. A.B. Saadu
Director, Special
Duties
Member
FOR MORE STORIES VISIT CKN NEWS SOCIAL MEDIA PLATFORMS:
Twitter: @CKNNigeria
Facebook: CKNNigeria
CKN NEWS Hotline: 08080054001
Whatsapp: 08099677755
BBM : 2BE329DF
Website: www.cknnigeria.com
Tags
Business