VAM News Update

Osun State Governor, Ademola Adeleke, has said working in unity by various states and the Federal Government would enable the country to fashion out strong ways to navigate the current economic hardship ravaging the country.

Declaring close the 22nd session of the National Council on Development Planning meeting hosted by Osun State and held in Osogbo, the state capital, Adeleke said unity would enable the country to chart a course for sustainable and inclusive growth for Nigerians.

According to him, the opportunity that being the leader of the administration that would host such a gathering since the creation of the state, has provided a good platform to further strengthen Osun’s partnership with the Federal Ministry of Finance, Budget, and National Planning which the government would leverage to engage with development partners for more benefits.

He said, “The theme of this year’s meetings, ‘Imperatives for Restoring Nigeria on the Path of Sustainable Economic Growth and Development,’ couldn’t be timelier.

“As we navigate through the evolving economic landscape, it is crucial that we come together to chart a course that ensures not only growth but sustainability and inclusivity for all Nigerians.”

Speaking earlier, Minister of Budget and Economic Planning, Senator Atiku Bagudu, emphasised the importance of planning to economic prosperity and called for constitutional provision for a joint planning board between the state and local governments for effective planning.

Bagudu, who further highlighted the importance of the interface between commissioners of the states and heads of state’s economic planning administration and that of the national level to create a meaningful resolutions for the National Economic Council, added that most economic issues relate to planning.

He subsequently backed a resolution that Commissioners of Budget and Planning should accompany governors to the monthly National Economic Council meeting, to provide opportunities for joint planning board meetings or interactions with the Ministry of Budget and National Planning.

Meanwhile, National Council on Development Planning NCDP has identified diversification of Nigeria Economy from Oil to Agriculture and Solid Minerals, heavy investment on Human Capital Development, Energy revolution for industrialisation as some of the major pathways for the country’s sustainable economic development.

These were parts of the resolution of the 22nd meeting of the Joint Planning Board of the council organized by the Federal Ministry of Budget and Economic Planning held at the Center for Black Culture and International Understanding, in Osogbo, the Osun State Capital.

In a communique, the NCDP noted that “given the new Electricity Act that empowers states and individuals to participate in all components of Energy sector, state governments should carry out energy audit to determine thier needs and explore areas for collaboration with private sector based on their comparative advantage.

“States should develop small hydro power plants, on or off-grid, and solar for communities and MSMEs. Government should promote the establishment of community foundations as a vehicle for investments in micro power grid projects and other infrastructure; and Tertiary Institutions should pioneer micro renewable energy projects to cater for the Institution, and nearby communities.

“It resolves further that both national and sub national governments should “increase investment in afforestation, climate change adaptation and mitigation strategies, restoration of peace and security in affected regions.”