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Economic expert enumerates positive moves to realise 2022 budget projections

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PICTURES: GOV. BABAJIDE SANWO-OLU HOSTS SOUTHERN NIGERIA GOVERNORS FORUM MEETING AT LAGOS HOUSE, IKEJA, ON MONDAY, JULY 5, 2021 PIX 1 L-R: Governors – Dr. Douye Diri (Bayelsa); Prof. Placid Njoku, Imo State Deputy Governor; Mr. Ifeanyi Ugwuanyi (Enugu); Mr. Emmanuel Udom (Akwa Ibom); Dr. Kayode Fayemi (Ekiti); Mr. Gboyega Oyetola (Osun); Mr. Babajide Sanwo-Olu (Lagos); Chairman of the Forum, Arakunrin Rotimi Akeredolu (Ondo); Mr. Nyesom Wike (Rivers); Prince Dapo Abiodun (Ogun); Mr. Ifeanyi Okowa (Delta); Engr. Seyi Makinde (Oyo); Deputy Governors- Sir Ude Oko Chukwu (Abia); Mr. Philips Shuaibu (Edo) and Barr. Kelechi Igwe (Ebonyi), addressing the Press shortly after the Southern Nigeria Governors Forum meeting at the Lagos House, Alausa, Ikeja on Monday, July 5, 2021. PIX 2 L-R: Governors – Engr. Seyi Makinde (Oyo); Dr. Douye Diri (Bayelsa); Mr. Ifeanyi Okowa (Delta); Mr. Emmanuel Udom (Akwa Ibom); Prince Dapo Abiodun (Ogun); Mr. Nyesom Wike (Rivers); Arakurin Rotimi Akeredolu (Ondo); Mr. Ifeanyi Ugwuanyi (Enugu); Mr. Babajide Sanwo-Olu (Lagos); Dr. Kayode Fayemi (Ekiti); Mr. Gboyega Oyetola (Osun); Deputy Governors – Barr. Kelechi Igwe (Ebonyi); Sir Ude Oko Chukwu (Abia); Prof. Placid Njoku (Imo) and Mr. Philips Shuaibu (Edo) during the Southern Nigeria Governors Forum meeting at the Lagos House, Alausa, Ikeja on Monday, July 5, 2021. PIX 3 L-R: Deputy Governor of Edo, Mr. Philips Shuaibu; his Ebonyi State counterpart, Barr. Kelechi Igwe; Governor Ifeanyi Okowa of Delta State; Governor Dapo Abiodun of Ogun State; Imo State Deputy Governor, Prof. Placid Njoku; Chairman, Southern Governors Forum and Ondo State Governor, Arakunrin Rotimi Akeredolu and the host and Lagos State Governor, Mr. Babajide Sanwo-Olu during the Southern Nigeria Governors Forum meeting at the Lagos House, Alausa, Ikeja on Monday, July 5, 2021. PIX 4 L-R: Governor of Ogun State, Prince Dapo Abiodun; the host and Lagos State Governor, Mr. Babajide Sanwo-Olu; Enugu State Governor, Mr. Ifeanyi Ugwuanyi and his Akwa Ibom State counterpart, Mr. Emmanuel Udom during the Southern Nigeria Governors Forum meeting at the Lagos House, Alausa, Ikeja on Monday, July 5, 2021. PIX 5/6 L-R: Ekiti State Governor, Dr. Kayode Fayemi; Ondo State Governor, Arakurin Rotimi Akeredolu; Delta State Governor, Mr. Ifeanyi Okowa, the host and Lagos State Governor, Mr. Babajide Sanwo-Olu during the Southern Nigeria Governors Forum meeting at the Lagos House, Alausa, Ikeja on Monday, July 5, 2021. PIX 7 L-R: Governor of Ogun State, Prince Dapo Abiodun, Lagos State Governor, Mr. Babajide Sanwo-Olu and his Deputy, Dr. Obafemi Hamzat during the Southern Nigeria Governors Forum meeting at the Lagos House, Alausa, Ikeja on Monday, July 5, 2021. PIX 8 L-R: Ekiti State Governor, Dr. Kayode Fayemi, his Akwa Ibom and Lagos States counterparts, Mr. Emmanuel Udom and Mr. Babajide Sanwo-Olu during the Southern Nigeria Governors Forum meeting at the Lagos House, Alausa, Ikeja on Monday, July 5, 2021. PIX 9 L-R: Governor Seyi Makinde of Oyo State, Lagos State Governor, Mr. Babajide Sanwo-Olu and his Deputy, Dr. Obafemi Hamzat during the Southern Nigeria Governors Forum meeting at the Lagos House, Alausa, Ikeja on Monday, July 5, 2021.

A development economist, Dr. Chiwuike Uba, has enumerated necessary positive moves which the government could embark upon to realise 2022 budgetary projections.
The News Agency of Nigeria (NAN) reports that President Muhammadu Buhari presented the 2022 Budget proposal to the National Assembly on Thursday, Oct. 7, about 12 weeks to the end of the year.
Uba, who is the Board Chairman of Amaka Chiwuike-Uba Foundation (ACUF), said this in a statement obtained by NAN on Friday in Enugu.
According to him, achieving the 2022 budget targets of economic growth and consolidation requires real investment in key infrastructure – health, education and other key economic and social sectors.
“Infrastructure funding through Public-Private-Partnership (PPP) mechanism as well as funding from the Central Bank of Nigeria (CBN) for targeted sectors need to be deepened.
“Nigeria needs to replicate large businesses such as Dangote across the country.
“Seventy-two large and strong corporations in each state are better than the millions of enterprises financed by the CBN with no real and measurable impact on the economy.
“Economic growth and consolidation are beyond good speeches, it demands bold decisions,” he said.
The expert also faulted the large number of government agencies responsible for midwifing and escalation of capital projects and developmental efforts without measurable results.
“Do we really need to continue funding agencies such as the Bank of Industry, Development Bank of Nigeria, Bank of Agriculture, Infrastructure Concession Regulatory Commission (ICRC), and other related government agencies?
“When such agencies appear not to be fulfilling their mandates? Redesigning our development strategy is important,” he said.
Uba lauded President Buhari for his reference to a national development plan during his speech at the 2022 Budget proposal to the National Assembly, adding: “This is a right step in the right direction.”
According to him, however, for any development plan to succeed, adequate public consultation aimed to gather public feedback is important.
“The citizens need to own the process and the output/document for it to be sustainable.
“Therefore, the national development plan process requires public input and feedback.
“Having made the above analysis, I will be able to make a more informed analysis and contribution to the proposed 2022 budget when the full budget proposal is released to the public.
“Nigeria is bound to do better. God is with us,” he added.

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