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President Buhari Holds Retreat to Fix Ailing Economy

Following the down turn of the Nigerian economy, President Muhammadu Buhari on Thursday, September 15 summoned experts and analysts to an “economic war room” to save the economy from prevailing challenges.

Major economists were billed to converge on Intercontinental Hotel, Lagos, on Thursday morning, to have a policy dialogue on the current foreign exchange regime. The dialogue, which was to be hosted by British High Commission and the Nigerian Economic Summit Group (NESG), was cancelled at the last minute and moved to the state house, Abuja.

The vice president’s spokesman said contrary to suggestions, that the retreat is not an emergency national economic conference, but an idea that was mooted in January at the last NEC meeting in “where members requested an intensive session to review economic trends and evolve strategies to cope.”

From what could be gleaned from the summit, it appears that the 2017 budget contains the details that will boost the economy and get the country out of recession. The budget, which has already been approved by the Federal Executive Council but has not yet been presented to the national assembly, is focusing largely on pumping funds into capital projects to get the economy running again.

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