BrandArena: President Buhari Launches Nigeria Economic Recovery & Growth Plan, Pledges To Fulfill Economic Promise

Thursday, 6 April 2017

President Buhari Launches Nigeria Economic Recovery & Growth Plan, Pledges To Fulfill Economic Promise

President Muhammadu Buhari on Wednesday, April 5, 2017 launched the Nigeria Economic Recovery and Growth Plan (ERGP)  (2017 to 2020) saying,  his administration was committed to delivering its electoral promises.

Speaking at the event at the Council Chamber of the Presidential Villa, Abuja, the President said that the new plan will not only take Nigeria out of recession but place the economy on inclusive growth.

President Muhammadu Buhari
According to him, the successes being recorded in the fight against corruption and securing the nation, under his administration were clear to everybody.

"As we all know this Administration inherited numerous challenges. Our political campaign was based on a recognition of the difficult situation Nigeria was in and the need to bring positive and enduring change. And we remain committed to our electoral promise to change our way of doing things and 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 also assured all Nigerians that his administration was handling the economic challenges with the same commitment so far demonstrated in the fight against corruption, against terrorism and militancy.

The Economic Recovery and Growth Plan, he said, “brings together, in a single document, all sectoral plans for agriculture and food security, energy and transport infrastructure, industrialization and social investments.

"It 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.

"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 Plan I am launching today therefore sets out what we, as Government, are committed to do, to create the enabling environment for business to thrive."

Discribing it as a national plan, he said that the role of State Governments was critical to its success.

He therefore urged State Governments to draw inspiration and strategic direction from the Plan to articulate their economic programmes, particularly in the development of the real sector.

The President also called on all Nigerians to work with the administration to ensure the objectives are achieved.

He pointed out that the contents of the plan were already familiar to a broad cross-section of Nigerians because it was developed in consultation with a wide group of stakeholders, including the National Assembly, State Governments, the business community, labour unions, academia, civil society groups and development partners.

He said, "I am pleased to present this Economic Recovery and Growth Plan for use by the Nigerian people, our friends and partners and to guide our development efforts over the next four years."

Commenting on the plam, Minister of Budget and National Planning, Udoma Udo Udoma, said "the broad objectives of the ERGP are to restore growth, invest in our people and build a globally competitive economy.

""As our President, has repeatedly said, our some is to build a self-reliant economy. A country in which we can grow what we eat, use what we make and produce what we consume.

"A country which embraces the world of technology, ideas and investment from everywhere, but domesticated these ideas for the use of our people. A country which produces high quality goods, not just for our own consumption, but enough to export our neighbours, and, indeed, the world.

"Our aim is to create a culture where Nigeria continuously seek ways to add value to the resources we have been blessed with. In short, our aim is to change Nigeria, and change for good.

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