Review of some of the critical raw material input, among the 41 prohibited items barred from foreign exchange
availability by the Central Bank of Nigeria was, therefore, strongly recommended. The Summit also raised the
need for a consolidated plan with a national and sub-national context that would serve as an effective guide to
stakeholders, including investors, who need to understand the short and medium term priorities and
programmes of government in order to proactively align their business objectives and plans. The opportunity
cost of not delivering this plan, in the shortest possible time, is to weaken Nigeria's position in the intense
competition for global capital flow.
The private sector expressed frustration over the difficulty in aligning with
government's directional thrust in the short, medium to long-term. Policy inconsistency and ambiguity were
also cited as a major concern. For instance, the government's foreign exchange policy implementation
appears, in many ways, to be at odds with the needs of the real sector in fundamentally damaging ways
The Minister for Budget and National Planning acknowledged the need for such a comprehensive and