NEEDS: FG Invites IMF to Monitor Implementation
Federal Government has invited the International Monetary Fund (IMF) to assist in the monitoring of its reform programme, National Economic Empowerment and Development Strategy(NEEDS).
Under the arrangement, IMF will make a report every six months to the Federal government on the level of compliance using benchmarks set by the government.
Senior Resident of IMF in Nigeria, Dr. Idrissa Thiam disclosed this in at the maiden meeting of the Economic Adviser to the President, Prof. Ode Ojowu with representatives of the donor agencies in the country.
"This is your home grown programme, you did not draft this in consultation with IMF, we are pleased that you have asked us to monitor the fiscal and monetary side, we are presenting to the world and we will check with the level of your compliance with your benchmark" Thiam said adding, " we shall indicate to you when you are doing well and when you need to make improvements."
The IMF representative announced the Fund's intention to assist the states to develop the State Economic Empowerment and Development Strategy(SEEDS) in line with the NEEDS guidelines.
He disclosed that IMF had concluded work on Article 1V which focused on NEEDS and fiscal discipline especially preparation of the budget s saying the Article IV document was being circulated to members of the executive board while discussions on the papers have been slated to commence on July 14. The report, he added touched on three issues including matrix on social measures on NEEDS, budget 2004 and monitoring programme for Nigeria.
Economic Adviser to the President Prof. Ojowu had in his speech disclosed that implementation guidelines for NEEDS had been completed and circulated to directors at the National Planning Commission (NPC) for inputs before being circulated to the donor community for further inputs.
He disclosed that the NEEDS document had continued to generate interest among Nigerians as request for the document has hit over two million copies. To meet the request, he disclosed that the United States Agency for International Development (USAID),has printed 5,00 copies, United Nations Development Programme(UNDP) has agreed to print 300,000 copies, while the Department for Foreign and International Department was set to deliver 225,000 copies to the commission for mass distribution.
"We are happy with the interest shown because this is the first time a development plan will be so popular with Nigerians. At the Commission, we want NEEDS to be a household name. We want it to be an idea, to be taught in schools may be as textbook for social studies in secondary schools"
Ojowu disclosed that the UNDP was helping to recruit consultants for the National Planning Commission to help in the preparation of SEEDS saying a pool of consultants was being created from where capable hands will be recruited to assist the states.
Commending the donors for their assistance to Nigeria, the Economic Adviser pledged to ensure that development assistance to Nigeria is properly coordinated in a systematic and optimal manner with a view to achieving rapid economic growth, development and poverty eradication.
"It is quite evident that unless there is a system of dialogue and coordination in place, we run the risk of overlapping and duplication of interventions, which can lead to the dissipation of scarce resources," he stressed.
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