BEVERLY HILLS, February 03, (THEWILL) -The Federal Government has declared that its National Economic Recovery Growth Plan (NERGP) will be ready before the end of February.
According to a statement issued by Akpandem James, the Media Adviser to the Minister of Budget and National Planning, Sen. Udoma Udo Udoma on Friday in Abuja, the plan is expected to be formally launched by President Mohammadu Buhari.
James disclosed that before the launch, the Federal Government plans to brainstorm with economic experts from the private sector adding that civil society groups, the academia and State governments will also be consulted as Government, through the plan, is targeting a growth rate of seven per cent between 2017 and 2020.
“This is expected to enrich the Plan development process,” he said.
“The Forum, scheduled for noon of Monday, February 6, 2017, is expected to be chaired by Vice President Yemi Osinbajo.
“The NERGP is a follow-up to the Strategic Implementation Plan (SIP) which was a short term economic plan to drive the implementation of the 2016 Budget.
“In the SIP, government promised that it would deliver a more comprehensive economic recovery and growth Plan subsequently,’’ it stated.
“It is principally targeted at getting the economy out of recession, getting people back to work and moving the country from a consuming nation to a producing nation.
“It also aims at providing an environment for ease of doing business and creating jobs, among others.
“Implementation of the plan will be driven by strong political will and strong collaboration between the public and private sectors especially in the areas of Agriculture, Manufacturing, Solid Minerals, Services and Infrastructure.
“59 strategies have been developed, out of which 12 have been prioritised based on their importance to the success of the plan.
“Priority areas are restoring oil production to 2.2 million barrels per day and also reach 2.5 million barrels by 2020, privatise selected assets, accelerate non-oil revenue generation and drastically cut costs.
“Government also plans to align monetary, trade and fiscal policies, expand infrastructure especially power, roads and rail, revamp the four existing refineries and improve ease of doing business while policies that promote Made-in-Nigeria goods will also be introduced.”
