President Muhammadu Buhari has urged states to embark on projects that will meet the immediate needs of the people taking account of available resources.
The President also added that the Nigerian army has shown considerable and renewed efforts in the fight against insurgency in the North-East.
Buhari during the inauguration of the National Economic Council (NEC) at the Presidential Villa, Abuja, said “Nigeria, under the auspices of the Lake Chad Basin Commission and the Republic of Benin is collaborating with the Republics of Niger, Chad and Cameroun to consolidate cross-border and international efforts at eradicating the insurgency.
“I am also happy to reiterate that following my invitation to Germany early this month by the G7 nations, which have shown concern about the insurgency, have promised to intervene to restore the destroyed infrastructure, schools and hospitals amongst others, and I have directed the frontline states of Borno, Yobe and Adamawa to articulate realistic assessments, costs, locations on local government by local government of affected facilities for submission to the president of the G7 for further verification.
“In addition, the requirements of the military have been prepared by the service chiefs for the consideration of the G7 nations.
“Let me reiterate the high expectations of the NEC as a veritable source of articulating policies and programmes that are people-centred and capable of driving further the expected growth and development of the country as well as providing the environment required for progress.
“I will like to express my appreciation to the Vice-President, Prof. Yemi Osinbajo (SAN), and all council members for the honour and privilege to formally inaugurate the National Economic Council today and to wish you all a successful tenure.
“We are also committed to ensuring collaboration and facilitation of the international efforts to combat threats of cross-border terrorism, sea piracy, refugees, internally displaced persons (IDPs), financial crimes, cyber crimes, climate change; the spread of communicable diseases and other challenges of the 21st century.
“I urge you all to ensure that we surmount these enormous challenges facing us as a country by working to support economic policies, which the government will soon unveil to grow our economy and finance our external promises.
“I am pleased to note that the council meetings have, over the years, been very constructive and productive, and the key outcomes as well as recommendations translated into government policies at the federal and state levels.
“This has not only facilitated national economic planning, but also led to overall political harmony. It is also reassuring to note that steps have been taken in the past to strengthen the effectiveness of the council in its role as prime adviser on developments in the economy.
“This process must be geared up substantially especially in the difficult times that we have now found ourselves. The National Planning Commission must continue to work to arrive at a workable consensus on government policies among the various tiers of government, which is a prerequisite for sustained growth and development.
“It is evident that the task of ensuring growth, job creation and equity is quite enormous. Consequently, we must kick-start this process by cultivating a culture of prudent management of resources at all levels of government.
“This will entail looking inwards to secure sustainable ways of increasing internally generated revenue (IGR) and harnessing growth potential of each state to supplement the Federation Account allocation to states.
“The states are also encouraged to embark on projects that will meet the immediate needs of the people taking account of available resources.”
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