As part of our public policy advocacy with the Government on gender-responsive budgeting, on 10th July, 2020 Girls Education Mission International attended a Virtual Consultative Forum hosted By the Honorable Minister of Finance, Budget and National Planning, Mrs. Zainab Shamsuna Ahmed alongside Prince Clem Agba – minister of State Budget and National Planning and DG budget – Dr. Ben Akabueze. The consultation which was basically a presentation of the 2020-2023 Midterm Expenditure Framework and Fiscal Strategy Paper (MTEF/FST) had the presentation of the Finance minister in the followings areas:
1. The implication of global and domestic development on Nigerian Economy:
2. Update on 2020 Revised Budget which was accented by the President earlier today.
3. Overview of 2020 Fiscal outcome (Jan-May 2020).
4. 2020-2023 underlying assumptions during macroeconomic parameters and targets.
Here are concerns drawn from the MTEF/FSP Paper presented by the Honorable Minister of Finance Hajiya Zainab Ahmad Shamsuma.
1. Real GDP declined from 2.55% in 4th quarter of 2019 to 1.87% in the 1st quarter of 2020.
2. Nigeria real GDP is now projected by the National Bureau of Statistics (NBS) to contract by 42% in 2020 as against the previous projected growth of 2.92%.
3. 2nd & 3rd quarter 2020 GDP growth are projected to be negative, which means that economy will lapse into a second recession in 4 years.
4. Total number of unemployment people increased from 17.6 million in 4th quarter 2017 to 20.9 million 3rd quarter 2018.
5. The above signals a serious challenge on the Nigerian Economy.
Details of the full presentations can be found through this link. https://www.budgetoffice.gov.ng/…/hmfbnp-mtef-fsp-2021-2023…
But there is hope! Yes! There is hope for the girl child as Girls Education Mission International works hard to making life better for Girls amidst the economic and social danger through a COVID-19 Emergency Response Fund.
You may wish help get girls recover better by making a generous donation to our fundraiser using this link