Background and Context
One of the highlights of the joint sessions of the International Monetary Fund (IMF) and the World Bank in October 2019 was that the debt profile of many developing countries, including Nigeria is rising. The implications of such rising debt can be far-reaching and will be different across developing countries especially in Africa due to a number of factors such as structural rigidities, weak economic diversification, institutional weaknesses, among others. Despite the aforementioned, it is shocking to know that the Federal Government of Nigeria is planning to borrow 30 billion US Dollars. This would further increase the volume of Nigeria’s debt. On the other hand, many have argued that borrowing may not bad in itself but the its utilization cum ability to repay.
Thus, the proposed National Budget Roundtable and Panel Discussion with the theme ‘‘The Art of National Budgeting and Nigeria’s Debt Profile: Sectoral and Demographic Implications’ is timely and germane. It promises to provide fresh insights on the issue and further sensitise Nigerian citizens with evidence with respect to the implications. It is also imperative to underscore that despite the budget deficit over the years, the cost of governance remains very high in Nigeria. For example, over the last years, over 22% of total expenditure is usually earmarked for debt servicing, and unfortunately, not much impact is seen ‘on ground’ in terms of improved facilities and welfare for the citizenry.
Date: Friday 20th March 2020
Venue: CUCRID Auditorium, Covenant University, Ota, Ogun State.
Success Story of Previous Roundtable and Panel Discussion
That of 2019 was held in February with the theme ‘2019 National Budget: Pertinent Issues and Sectoral Impacts’, with experts from the academia, government agencies and private sector in attendance. Brief information is on our website at this link: http://cepder.covenantuniversity.edu.ng/roundtable-and-panel-discussion/. After the event, CEPDeR (Centre for Economic Policy and Development Research) made public some key highlights in national dailies for public consumption and awareness. (see the link to some of them). One of the key points stressed was the need for early passage of the budget. Thus, it was interesting to know that for the first time in this democratic era, the national budget was passed by the National Assembly in December, before the commencement of the 2020 fiscal year.
Expectations of the 2020 Roundtable and Panel Discussion
The expectation of the 2020 Roundtable Discussion is to build on the achievements of last year and enlarge the scope of the discussion by incorporating the issue of national debt. It will also bring into context some of the SDGs (Sustainable Development Goals) with respect to the issue demographic implications (i.e. the youth, women, among others).
We are drawing the Speakers/Panellists from agencies of government, private sector, and academia. The confirmed Speakers and Panellists include:
- Ben Akabueze, Director-General, Budget Office of the Federation, Abuja
- Ajayi Kadiri, Director-General, Manufacturers Association of Nigeria
- Oluneye Oluwole, Founder/Executive Director, African Hub International
- Adekunle Salako, COO, Klasik Healthtech & Pharma Nigeria Ltd.
- Temitope Jebutu, General Manager, AACE Food Processing & Distribution Ltd.
- Ada Peter, Director, International Office & Linkages, Covenant University (Moderator)
An important highpoint of the event is that the German Consul General, Dr Stefan Traumann will perform the Symbolic Handover of CEPDeR’s Equipment procured with the Equipment Subsidy Grant from the Alexander von Humboldt Foundation, Bonn, Germany.
The International Monetary Fund (IMF) Senior Resident Representative and Mission Chief for Nigeria, Mr Amine Mati will be present.
Also, the inauguration of CEPDeR’s Fellows will take place at the event.
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Note: Registration is FREE for individual participation; however, interested participants are to register ahead of time and get confirmation.
For Corporate Participation and Exhibition, enquiries should be made using the details below:
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You can also contact
Evans S. Osabuohien, Ph.D
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Obindah Gershon, PhD