▪︎ Commissions macroeconomic modelling lab
Minister of State for Finance, Budget and National Planning, Prince Clem Ikanade Agba has urged the development partners, Ministries, Departments and Agencies (MDAs) to join hands with his ministry to actualise the National Development Plan (NDP) 2021-2025.
The NDP was launched by President Muhammadu Buhari in December last year.
Speaking at the inauguration of the Macroeconomic Modelling Lab/Economic Intelligence Desk in the Ministry in Abuja on Thursday, Agba said in line with its mandate and presidential approval, the ministry had commenced the process of developing the Nigeria Agenda 2050.
He said, ” the country can achieve the targets set out in the NDP through high quality economic growth and a more inclusive economy, leveraging its young workforce force, and enhancing implementation capacity at the national and subnational levels.”
The Modelling Lab, according to the Minister, was set in the Macroeconomic Analysis Department of the ministry to serve as a clinical laboratory or Wind Tunnel where the technical officers are expected to test proposed new policies before implementation, etc.
Agba further explained that the lab, “will also be a place where officers will conduct a range of in house empirical research activities, use Macroeconomic models to observe and examine behaviours of economic agents for a given policy change.
“It will be a platform for learning/mentoring for young officers to develop their skills and knowledge on economic methods that are useful in National Planning”, adding that the results obtained from the lab “will be used to support the Ministry’s consultations with stakeholders and institutions in process of developing and implementing national plans/Agenda.”
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