NLNG Corporate Caring banner First bank SME Connect Fidelity bank card banner Emerald Energy Institute Camano banner

FG seeks private sector commitment towards achieving self-sufficiency in essential items

By News Express on 13/10/2016

Gmail icon

Views: 1,532


The private sector has been enjoined to show greater commitment to the Federal Government’s desire to make the country self-sufficient in essential goods and services in the shortest possible time. 

On its part, the government has pledged to create the necessary environment to enable robust private sector involvement in growing and sustaining the country’s economy. 
The Minister of Budget and National Panning, Senator Udoma Udo Udoma, who represented President Muhammadu Buhari at the closing of the three-day Nigerian Economic Summit in Abuja on Wednesday, said government acknowledges the role played so far by the private sector in the growth of the country’s economy, but asked participants to leave the conference venue with a greater commitment to growing a sustainable economy for the country. 
Senator Udoma who expressed the profound gratitude of the President for the support and pledge of further support by the private sector operators said government acknowledges the critical role of the private sector as the catalyst for economic growth and is determined this time around to make the diversification policy a reality; and thus requires the involvement of all stakeholders to make the project both sustainable and inclusive.    
“To spend two and half days deliberating on economic issues in Nigeria, spending two and half days supporting government, extending your support and promising to work together with government to solve issues that we face; this is something for which we are very grateful,” Udoma stated while conveying the President’s appreciation. 
He said the President is looking forward to the report of the Summit as was indicated in his address at the opening. “He is waiting anxiously for the recommendations because of the importance of the Nigeria Economic Summit Group. He knows the importance of working closely with the private sector. In the course of the last two and half days, we have heard very useful suggestions. Many of them actually re-enforced some of the things that we believe in, and already doing; and so, we feel that it is a re-enforcement of the fact that we are moving in the right direction.” 
The minister said what government needs to do is to engage more and communicate more so that it can get the necessary support from the private sector. “If we have to solve these problems, we have to work together with the private sector, we have to work with the states and we have to work with the National Assembly. It is by bringing everybody together that we can achieve the successes which we need, which we want and which we desire.” 
He disclosed that government is working on a more comprehensive development plan which would provide appropriate policies to assist in investment decisions.  “I just want to explain that when we came in, we all knew we had a problem. When the President was campaigning, he knew Nigeria was in bad shape, so he came to solve the problem and we are determined to solve the problems; and we came up with an initial plan, the Strategic Implementation Plan (SIP), which was a short term plan, and we are working on a longer term plan which should be out by the end of the year, as promised in that document.”
The new development blueprint, he explained, will be a much more comprehensive plan and will embody all the policies of government covering all the sectors, brought together in a single document and easy to access by investors and businesses. Some of the sectoral plans, including those on Agriculture, Solid minerals Trade and Industries, have already been approved by the Federal Executive Council. 
Udo Udoma reminded the gathering of top businessmen and women from Nigeria and other African countries that the President is determined to pursue government’s desire to move away from a mono-product economy to a regime where Nigeria will be self-sufficient in the provision of food and other essential products and services.  
Describing the theme of the Summit “Made-in-Nigeria” as apt, the Minister said it reflects the things the President wants to achieve – produce our own food, produce our own textiles and most of the things Nigerians use. “Of course nobody is suggesting that we can be an exclusive world, no; but we can have a situation whereby at least in a number of important essential items, we can say we are self-sufficient,” he said. 
This he said, is absolutely necessary because given the country’s large population, it cannot afford to import everything it requires. 
Earlier, the Summit presented to the President, the summary and recommended action plan in which the Presidency and Niger Delta State Governments were urged to urgently take pragmatic steps to end the Niger Delta crisis in order to boost oil production and provide respite to the biting economy, boost government revenues and reduce exchange rate pressure.  
It also suggested the full implementation of the proposed Presidential Council on Ease of Doing Business, fast-track the passage of Bills and amendment of Acts that improve ease of doing business; as well as establish the National Research and Innovation Fund. 
The Presidency and the National Assembly were enjoined to enact legislation to support the take-off of the new development finance institution and for the Central Bank to review the list of items excluded from the FOREX market. 
•Photo shows Udo Udoma.

Source News Express

Posted 13/10/2016 05:44:20 AM

 

 

CLASSIFIED ADS

 

You may also like...
220 Nigerians killed in the past 15 days...

Protesting workers paralyse activities at Delta Teaching Hospital...

All set for Nigeria’s hosting of global tourism...

Intersociety unveils names of alleged chief abusers of...

SHOCKER: Abuja communities where they still kill twins,...

Alleged missing bailout funds: Watchdog Publisher gets bail...

Southerners flee Northern Nigeria as elections approach

Imo monarch dares Okorocha

Igbos are the most marginalised in Nigeria —...

Nigeria’s government humanitarian response agencies frown at exclusion...

Okowa calls for collective efforts to achieve peace...

ERA/FoEN bemoans aggressive oil exploration •Advocates more research...

 

Latest News Nigerian chief imposes wedding tax in his village Bayelsa Guber: US advises voters Osinbajo didn’t pray with pastors for Buhari’s death in any church — Spokesman Oshiomhole, Obaseki feud sparks fresh crisis in APC 11 adults, two children killed in multiple vehicle crash on Lagos-Ibadan Expressway Edo government rejects APC NWC’s fact finding committee LASU student, five others arraigned for ‘robbery’ Reps direct JAMB to suspend proposed use of NIN for UTME Bayelsa Guber: APC heads to Appeal Court over disqualification of Deputy Governorship candidate NCC warns consumers on activities of cyber criminals Zenith Bank, 12 others record N707bn net profit Foundation offers free medical care for 5,000

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (561,873 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (451,875 views) Shameless Genevieve Nnaji exposes breasts in public (400,865 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (334,946 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (303,233 views) 10 cars more expensive than Jets (279,796 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (258,545 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (256,671 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (238,166 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (224,491 views) Lagos plane crash: Journalist releases victims’ names (201,147 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (197,919 views)

 

CBN milk production

CBN banner advert

UBA Wise Savers Promo

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (108) Business & Economy (4,567) Business Verdict (86) Columnists (1,142) Complaints & Requests (97) Enterprise & Opportunities (219) Entertainment (702) Features (844) Global Business Monitor (493) ICT Monitor (67) International (4,199) Interview (211) Live Commentary (30) Love Matters (176) Maggie's Blog (481) News (53,927) Opinion (1,418) Pidgin (17) Politics (11,711) Religion (1,118) Sports (2,224) Stock Watch (39) AMA & Al Jazeera Global Update

 

 

 

 

 

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera