The National Conference Committee on Economy, Trade and Investment, has recommended conversion of the National Planning Commission to Federal Ministry of Planning and Economic Development.
The proposal was read by the Chairperson of the committee, Hajia Bola Shagaya, when she presented the committee’s report at plenary in Abuja on Monday.
Shagaya said the committee suggested that the ministry should be domiciled in the office of the vice president and deputy governors at the federal and state levels, respectively.
It advocated the return of the budget office of the federation to Ministry of Planning and Economic Development, while all treaties and agreements should be ratified by the National Assembly.
The committee also proposed appropriate policy measure to guide contributions of informal sector to the nation’s GDP.
It said the informal sector, where majority of the less privileged persons, particularly women, was operating should be recognised as pivotal to the transformation of the economy.
The committee suggested that the monthly Federal Account Allocation should be made weekly.
In addition, it said the change would remove the volatility associated with wholesome liquidity withdrawal by the Nigerian National Petroleum Corporation (NNPC) as this adversely affects micro economic stability.
The committee recommended that the budgets of anti-corruption agencies should be on first line charge in order to guarantee their independence.
It called for provision of world class infrastructure for the supply of power, transportation, and water, amongst others to support manufacturing, agricultural businesses and tourism development.
It advocated a National Fashion Council to facilitate development of fashion industry, constitutional provision for the Sovereign Wealth Fund and legalisation of excess crude account.
Government at all levels, it said, should enforce the made-in-Nigeria goods’ campaign, so that Nigerians would be encouraged to consume made in Nigeria goods. (NAN)