The Managing Director, North East Development Commission (NEDC), Mr. Mohammed Alkali, said the high inflation rate and floating of the naira had negatively affected the successful implementation of the commission’s masterplan.
Alkali said this on Tuesday when he received in his office the Federation Accounts Allocation Committee (FAAC) Postmortem Sub-Committee, led by its Chairman, Mr. Kabir Mashi, in Abuja.
The NEDC chief identified a paucity of funds as another challenge hampering the hitch-free implementation of their master plan.
He said that as of June 2022, the implementation of the North East Stabilization and Development Masterplan (NESDMP) was expected to cost 31.05 trillion naira (or 80 billion dollars).
“As you know, there is an issue with the naira to dollar equivalent, and so when you calculate the funding available to the Commission in relation to the funding of the northeast stabilisation and development masterplan, it needs to be improved,” he said.
Alkali explained that the current economic situation and exchange rate debacle might further escalate the situation, making it difficult for the Commission to achieve its targets.
“That is why we are trying to look inward to generate revenue, and we are also looking for public-private partnerships with some stakeholders.
“In spite of all the challenges, the future is still bright because, when we say we require 80 billion dollars, we expect some funding to come from public-private partnerships, and every challenge creates opportunities.
“So, we are ready to work with all our partners to achieve our mandate, and you know the federation accounts allocation committee is a strategic body.
He, however, said that even with the successes recorded by security forces in the fight against insurgency, there are areas that are not accessible due to the activities of some of the insurgents still operating.
According to him, NEDC is doing its best to address the socio-economic problems of the people in the region.
“We recognise the need for capacity building among the people, addressing the menace of out-of-school children, and ensuring the reintegration of insurgents that have surrendered because we still have flashpoints here and there in the region,” he said.
Alkali, who thanked the visitors for identifying with the commission at this critical time, urged them to support the commission in delivering on its mandate.
Earlier, Mashi had said that the sub-committee’s visit was to seek collaboration with the commission to enable it to achieve its mandate.
According to him, if the north-east is safe, the rest of the country could be safer, hence the need for collaboration.
Mashi added that the sub-committee was constituted in July 2004 by the Revenue Mobilisation, Allocation, and Fiscal Commission (RMAFC) to primarily examine revenue accruals into the federation accounts presented by generating agencies.
He also said the committee is responsible for making detailed analysis regarding the management of the federation account.
Mashi, therefore, expressed optimism that the collaboration would yield positive results for the benefit of the people of the region (NAN)
