GTB 737 banner Yudala banner

Private, public sector operators meet on Monday to brainstorm on economic recovery strategies

By News Express on 05/02/2017

Share on facebook Yahoo mail icon Gmail icon

Views: 560

 •Udo Udoma.
•Udo Udoma.

The Ministry of Budget and National Planning is in the process of finalising Nigeria’s Economic Recovery and Growth Plan (NERGP) 2017 – 2020 development process. The plan is expected to be formally launched by President Mohammadu Buhari within the month.

As part of efforts towards carrying the critical sectors along and ensuring successful development of the Plan, a Forum is being organised for representatives of the private sector to actively engage their public sector counterparts on the proposals. This is expected to enrich the planned  development process.

James Akpandem, Media Adviser to the Minister of Budget and National Planning disclosed in a statement that the Forum, scheduled for 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.

“In developing the NERGP, government had said there will be extensive consultation with relevant stakeholders, including the state governments. In keeping with that promise, government has already engaged and discussed with economic experts, the organised private sector, civil society groups, the academia and state governments. The plan is now at its final stage and will soon be launched.

“The focus of the plan is to address current economic challenges, restore growth, and reposition the economy for sustained inclusive growth. It is principally targeted at getting the economy out of recession, getting people back to work, moving the country from a consuming nation to a producing nation, providing an environment for ease of doing business and creating jobs, among others.

“Implementation of the plan will be driven by strong political Will; close partnership and strong collaboration between the public and private sectors (especially in the areas of Agriculture, Manufacturing, Solid Minerals, Services and Infrastructure), a rigorous implementation plan and an effective delivery unit,” Akpandem said.

According to the statement, 59 strategies have been developed for implementation to achieve the strategic objectives of the plan, out of which 12 have been prioritised based on their importance to the success of the plan. These are to:

•Restore oil production to 2.2mbpd and reach 2.5mbpd by 2020

•Privatise selected assets

•Accelerate non-oil revenue generation

•Drastically cut costs

•Align monetary, trade and fiscal policies

•Expand Infrastructure especially Power, Roads and Rail

•Revamp the four existing refineries

•Improve Ease of Doing Business

•Expand social investment programmes

•Deliver on agricultural transformation

•Accelerate implementation of National Industrial Revolution Plan using 
Special Economic Zones

•Focus on priority sectors in order to generate jobs, promote exports, 
boost growth and upgrade skills

Also, the key Industrial and Trade Policy Initiatives in the Plan include:

•Resuscitation of the Export Expansion Grant geared towards providing export policy orientation for foreign exchange earnings diversification and global competitiveness;

•Strengthening the Presidential Enabling Business Environment Committee (PEBEC) to facilitate the improvement of the country’s business environment;

•Leveraging ICT to improve global competitiveness of the country Establishment of an ICT Ecosystem

•Expansion of Broadband coverage
Establishment of “Innovations and Experience” centres and ICT clusters

•Enhancing support to Micro, Small and Medium Enterprises to maximise their contribution to growth, employment and export earnings

•Promoting the policy of Made-in-Nigeria

Source News Express

Posted 05/02/2017 3:09:34 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...
5 killed in Rivers shooting

Police to upgrade counter-terrorism school

Turnah demands N100m from EFCC chief •Seeks details...

Navy destroys illegal refinery in Delta State

Foreigners flee South Sudan amidst renewed fighting

Anambra attracts $520m investments in one week •Obiano...

US blames FG for defaulting in military training...

Buhari retires Civil Defence Commandant-General •Appoints Abdullahi Muhammadu...

Police Recruitment: Successful candidates to undergo compulsory lie...

We won’t condone multiple registration for Direct Entry,...

Strike: Aviation unions give NCAA 14-day ultimatum

MTN Nigeria gets deadline to pay $5.2 billion...

 

Latest News Anambra Guber: Peter Obi wins polling unit •Counting of votes ongoing in most areas APGA decries malfunctioning card readers Why students fail exams — Board chief Mugabe adamant as protests rock Zimbabwe FG set to organise focused labs to boost economic growth LEADERSHIP Publisher, staff at war over N4.8m salary arrears, 400 pages advert commission I’m not a saint, I admit my fault — Ohakim Trump to refocus U.S. relationship with Africa Association of Registered Freight Forwarders outlines new agenda BNYL faults Buhari’s speech in Abakiliki, berates Emeka Ojukwu Jr. Governorship aspirant boasts of bedding 50 women 3 dead as irate youths burn senator’s house

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (294,274 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (278,105 views) Shameless Genevieve Nnaji exposes breasts in public (224,605 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (189,030 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (181,276 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (165,818 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (143,940 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (130,395 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (126,783 views) Lagos plane crash: Journalist releases victims’ names (116,421 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (113,643 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (107,326 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (30) Business (2,771) Business Verdict (26) Columnists (769) Complaints & Requests (93) Enterprise & Opportunities (186) Entertainment (404) Features (510) Global Business Monitor (190) International (1,642) Interviews (138) Live Commentary (28) Love Matters (82) News (30,336) Opinion (837) Pidgin (9) Politics (4,102) Religion (648) Sports (1,356) Stock Watch (24) AMA & Al Jazeera Global Update

 

UBA mobile app

CBN Words on marble

 

 

Argentina vs 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

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!