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  • ‘Develop contingency plans over decline in oil prices’
 

‘Develop contingency plans over decline in oil prices’

‘Develop contingency plans over decline in oil prices’

by magna / Friday, 31 October 2014 / Published in Capital Market News

By Chibuzor Emejor / Correspondent, Abuja

 

Acting Secretary to the National Planning Commission[NPC], Bassey Akpanyung, has tasked senior officers of  the Federal Ministries, Departments and Agencies [MDAs] responsible for planning, including permanent secretaries and directors of states’ planning agencies to develop contingency plans in response to decline in crude oil price in the international market.

Akpanyung who gave the task at the opening of the meeting of the Joint Planning Board (JPB) in Ibadan, Oyo State, quoted the advice given to oil producing countries by Brethon Woods Institutions (BWIs) to develop contingency plans in response to the decline in oil price and slow recovery of the global economy.

The Acting Secretary of the Commission represented by Director of Macro Economic Analysis, Tunde Lawal, said the NPC would continue to engage and work closely with States’ Planning Agencies in order to ensure accelerated improvement in strategic planning at the sub -national level.

He explained that the meeting provided the platform for key planning stakeholders responsible for economic planning matters to review strategies, interact and share ideas with a view to enhancing the development of strategic planning in the country.

Akpanyung, also added that, as part of the efforts toward enhancing strategic planning in Nigeria, the NPC is also working with the Nigerian Institute of Social and Economic Research (NISER) to improve capacity of permanent secretaries, directors and officials of department of Planning, Research and Statistics (DPRS) in the area of research.

The meeting of the Joint Planning Board, is being organised by the NPC to provide platform for key planning stakeholders responsible for economic planning matters to review strategies, interact and share ideas with a view to enhancing the development of strategic planning in the country.

In his remarks, Secretary to the Oyo State Government (SSG), Ishmael  Alli, lauded the NPC for its effective coordination of planning activities in the country and also pledged the commitment and support of Oyo state government to NPC and other stakeholders in their bid to build a better future as well as create conducive environment for investors.

He expressed delight that the current country’s economic growth is a pointer to an improvement over past performances as a nation

Source : Independent

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