Shell Energy Entrepreneurs banner Yudala banner
Buhari to launch economic recovery plan next month

By News Express on 19/01/2017

Share on facebook Yahoo mail icon Gmail icon

Views: 739

President Buhari.
President Buhari.

President Muhammadu Buhari will next month launch an Economic Recovery Growth Plan for Nigeria, now going through a difficult recession.

Vice President Yemi Osinbajo disclosed this today while speaking in Davos, Switzerland, to a Business Interaction Group made up of international and local investors and business interests.

Osinbajo said the newly developed ERGP of the Buhari administration has been specifically designed to take the country out of recession and in the long term continue to grow the economy.

He said the planning of the 2017 budget was also based on the ERGP.

Osinbajo in speeches at various events at the World Economic Forum in Davos, also spoke about the Buhari administration’s signature Social Investment Programmed.

The vice-president said empowerment of Nigerians is at the heart of the programme, even though it also has a social welfare component to help the people survive as they are being empowered.

The Vice President not only spoke to a packed international Business Interaction Group of investors focused exclusively on Nigeria, he addressed a panel of Building Africa. He was joined in the discussion by Rwandan President Paul Kagame.

The discussion was televised live by the CNBC Africa.

Asked to mention what kind of radical ideas can advance the African continent, Prof. Osinbajo gave the example of the Federal Government’s Social Investment Programme where for the first time half a Trillion Naira is being budgeted by the Federal Government for Social Investment Programmes.

“It is about investment in people, in their skills, in youths, that we have a N500B allocation in our budget last year and proposed for this year also,” the VP explained.

“It is an investment in education and educating large numbers of people in a short time, it’s a radical thing to make that kind of serious investment in education,” referring to the N-Power scheme’s training component for young graduates, and non graduates in artisanal and industrial middle-level skills. He also referred to the planned N100,000 supporting grants to students of higher institutions in Science, Technology, Engineering & Maths, STEM.

The Vice President noted that the Buhari administration is “committed to investing more in infrastructure,” than in previous times by ensuring that 30% of the budget goes into capital expenditure.

Besides, he disclosed that the government is working on how to tap into Nigeria’s huge Pension Fund to finance infrastructure in the country. To do this he stated that “we have to first de-risk” such financing models for infrastructure.

An active engagement with the private sector, he said, is also of a great deal, referring to the example of the 650,000bpd refinery project of the Dangote Group, which is going to be the largest single-line refinery in the world.

He said the Buhari administration is very confident about the recovery of the Nigerian economy.

“It is not difficult to get out of where we are if we understand why we are where we are,” Osinbajo told his audience about efforts being made to re-engineer the Nigerian economy, which remains indisputably the biggest in Africa. (NAN)
  

Source News Express

Posted 19/01/2017 12:25:52 PM

 

Share on facebook Yahoo mail icon Gmail icon


 

CLASSIFIED ADS

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

 

You may also like...
FG approves 8 new universities

Shettima seeks imprisonment for officials arrested over IDP...

Weatherman predicts sunny and hazy Thursday

Military moves to cut off fish supply to...

Jonathan and PDP not ready for 2015 elections...

Military warns pipeline vandals, economic saboteurs

Another tragedy hits Nigerian journalism as careless driver...

UNIBEN lecturers, professors injured in attack allegedly ordered...

MTN Nigeria chiefs throw in the towel over...

Insecurity: Police Boss relocates AIG to Kaduna

BREAKING NEWS: Police takes over #BringBackOurGirls protest ground...

Dangote Cement rakes in N292bn revenue in second...

 

Latest News Niger Delta Avengers set to resume attacks •Vows to be ‘brutish, brutal, bloody’ Access Bank approves paternity leave for male employees Alheri denies owing FG N27.2b over fibre optic agreement Oshimili North suspends NURTW activities, stops revenue collectors Buhari to lead Nigerian delegation to AU summit NAF pilots bomb Boko Haram vehicle workshop in Sambisa FG aims to raise N110b at bond auction NiMet predicts dust haze, cloudy weather, reduced visibility 12 killed, 48 wounded in Maiduguri suicide bomb attack 6 killed in fresh Benue attacks American, Canadian kidnapped in Kaduna, 2 police escorts killed Wicked grandma burns 9-year-old granddaughter’s hands for eating brother’s food

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (314,612 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (303,773 views) Shameless Genevieve Nnaji exposes breasts in public (243,909 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (200,981 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (189,702 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (178,956 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (155,237 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (139,197 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (135,856 views) Lagos plane crash: Journalist releases victims’ names (124,194 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (121,346 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (118,715 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (33) Business (2,852) Business Verdict (32) Columnists (790) Complaints & Requests (94) Enterprise & Opportunities (200) Entertainment (431) Features (541) Global Business Monitor (222) International (1,743) Interviews (139) Live Commentary (28) Love Matters (100) News (31,957) Opinion (864) Pidgin (10) Politics (4,351) Religion (666) Sports (1,405) Stock Watch (25) AMA & Al Jazeera Global Update

 

CBN Banner advert

CBN Words on marble

 

 

Thierry Henry in Lagos Nigeria

 

APO Group Partner

 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement



 

 

CLASSIFIED ADS

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!