Let's Be Friends!

Like us on Facebook to stay glued to our unbeatable updates.
Like Now!
JAMB postpones sale of unified tertiary matriculation examination forms, reveals why

FG releases economic recovery plan

Posted: 08 March, 2017 at 10:16 am
FG releases economic recovery plan
FG Releases Economic Recovery Plan Photo 1

The Acting President Professor Yemi Osinbajo-led Federal Government has released the economic recovery and growth plan (ERGP) to salvage the country's dwindling economy.

The growth plan was released on Tuesday.

The document reads thus:

“The ERGP differs from previous plans in several ways. First, focused implementation is at the core of the delivery strategy of the plan over the next four years,” “More than ever before, there is a strong political determination, commitment and will at the highest level.

Whilst all the MDAs will have their different roles in implementing the plan, a delivery unit is being established in the presidency to drive the implementation of key ERGP priorities. “The ministry of budget and national planning will coordinate plan-implementation and for this purpose will, amongst other things, build up its capability for robust monitoring and evaluation.” “The current administration recognizes that the economy is likely to remain on a path of steady and steep decline if nothing is done to change the trajectory.

It is in this context that since inception in May 2015, Government has made several efforts aimed at tackling these challenges and changing the national economic trajectory in a fundamental way. “The earliest action was the prioritization of three policy goals: tackling corruption, improving security and re-building the economy. Consequently, the Strategic Implementation Plan (SIP) for the 2016 Budget of Change was developed as a short-term intervention for this purpose. “Visible successes and achievements have been recorded. However, it is recognized that more needs to be done to propel the country towards sustainable accelerated development.

The Economic Recovery and Growth Plan (ERGP), a Medium Term Plan for 2017 – 2020, builds on the SIP and has been developed for the purpose of restoring economic growth while leveraging the ingenuity and resilience of the Nigerian people – the nation's most priceless assets. “It is also articulated with the understanding that the role of government in the 21st century must evolve from that of being an omnibus provider of citizens' needs into a force for eliminating the bottlenecks that impede innovation and marketbased solutions. The Plan also recognises the need to leverage Science, Technology and Innovation (STI) and build a knowledge-based economy.

“The ERGP is also consistent with the aspirations of the Sustainable Development Goals (SDGs) given that the initiatives address its three dimensions of economic, social and environmental sustainability issues.”

According to the recovery plan, focus would be put on key areas such as Science, Technology and Innovation to build a knowledge-based economy. Other areas are the Sustainable Development Goals (SDGs) given that the initiatives address its three dimensions of economic, social and environmental sustainability issues.

Add Your Comment

Recent Replies (5)

I pray that the plans will work perfectly for us - Ibrahimmuhammad0092@gmail.com
alright - Lilian Nnedinso
Let's wait and see. - Sandra Chinasa
It's extremely imperative as it has become needful. Our economy has to thrive. Daniel Munachimso - danielnwimo@gmail.com
Awaiting the implementation.. let see as fast as it can be implemented.. - yayahdrs8@gmail.com
World Clock

Lagos, Nigeria.

08:43 AM

Wasington D.C., USA.

02:43 AM

London, UK.

07:43 AM
End of Result