FG targets 7% growth by 2020; Buhari launches plan.

***We will tackle economy with same vigour we are fighting corruption and insecurity.
The vigour and determination with which the present administration has tackled insecurity and corruption is the same way it will seek to take on the economic problems in the country, President Muhammadu Buhari has said in Abuja.
At the launch of the “Economic Recovery and Growth Plan” (ERGP: 2017-2020), the President reiterated his administration’s commitment to its electoral promise to change Nigeria for good.
“We are committed to delivering on the three key areas that we promised – That is improving security, tackling corruption and revitalising the economy. Security in the North East, and other parts of Nigeria, is significantly better today than when we came in. With regards to our fight against corruption, as you all know, our law enforcement agencies are prosecuting very many cases of corruption. Our successes in these two areas are clear for all to see,” he said.
He assured that Nigerians to approach “the solution to our economic challenges with the same will and commitment, we have demonstrated in the fight against corruption and in the fight against terrorism and militancy.”
He disclosed that the ERGP brings together all sectoral plans for agriculture and food security, energy and transport infrastructure, industrialization and social investments together in a single document adding that EGRP builds on the Strategic Implementation Plan and sets out an ambitious roadmap to return the economy to growth; and to achieve a 7% growth rate by 2020.
The President added: “Our aim simply put, is to optimise local content and empower local businesses. We seek not just to take the Nigerian economy out of recession but to place it on a path of sustained, inclusive and diversified growth. We are determined to change Nigeria from an import dependent country to a producing nation. We must become: A nation where we grow what we eat and consume what we produce.We must strive to have a strong Naira and productive economy.”
The EGRP sets out, according to him, what Government is committed to do, to create the enabling environment for business to thrive, but he enjoined State Governments to draw inspiration and strategic direction from the Plan to articulate their economic programmes, particularly in the development of the real sector.
He implored Nigerians to work with government to achieve its objectives.
Earlier, Minister for Budget and National Planning, Senator Udo Udoma, disclosed that the plan articulates up to 60 interventions, and initiatives, that must be executed and completed within the next four years to tackle, and remove, impediments to growth; to make markets function better; and to leverage the power of the private sector.
“However,” he added, “this growth is to be achieved without compromising the core values of this nation, such as discipline, integrity, social justice, self- reliance and patriotism. And, of course, all the initiatives in the Plan will be implemented in such a manner as to continue to strengthen and promote national cohesion and social inclusion.”
He said further: “Even though the ERGP outlines up to 60 initiatives, it focuses on five execution priorities, which are central to achieving the 7% growth projected by the end of the Plan period. These are namely: (i) Stabilizing the Macroeconomic Environment (ii) Achievement of Agriculture and Food Security (iii) Expansion of Energy Infrastructure capacities (power and petroleum), (iv) Improving Transportation Infrastructure and (v) Driving Industrialization principally through local and small business enterprises.”
Photo by Novo Isioro.