The National Assembly has expressed commitment to bridging the gap between national development plans and budget implementation.
Chairman, House Committee on National Planning and Economic Development, Gboyega Isiaka, disclosed this at a press briefing in Abuja, yesterday. He said this is necessary to fuel sustainable economic growth.
Consequently, Isiaka stated that the National Assembly Joint Committee on National Planning and Economic Development, has concluded plans to hold a two day dialogue on the subject matter.
He explained that the dialogue, which is organised in collaboration with the Office of the Vice President, the Ministry of Finance, the Ministry of National Planning and the Budget Office of the Federation will focus on aligning Nigeria’s development agenda with its fiscal framework.
The lawmaker stated that Nigeria’s current growth rate of about 3.54 per cent is insufficient to meet its long-term economic aspirations, particularly the $1 trillion economy target. According to him, growth must significantly outpace the country’s population increase, estimated at 2.7 per cent, to achieve meaningful progress.
“We cannot continue on a business-as-usual trajectory. Our growth must not only accelerate but must also be deliberately tied to a well-structured and implementable national plan.”
While reflecting in n previous development plans in the country, Isiaka noted that while some frameworks recorded partial successes, many fell short due to structural weaknesses, macroeconomic volatility, and external shocks such as fluctuating oil prices.
“The lessons are clear. Plans alone are not enough; execution, consistency, and adaptability are critical. This dialogue is about getting it right going forward.”
