The Minister of Budget and National Planning, Udo Udoma has said the Federal Government will fully implement the Economic Recovery and Growth Plan.
The minister said the plan will help the government restructure the economy.
Udoma said the plan will be launched by President Muhammadu Buhari in February.
He promised that the plan will be fully implemented unlike government programs in the past.
He said 59 strategies have been developed for implementation to achieve the strategic objectives of the ERGP.
He said, “The Medium Term Economic Recovery and Growth Plan is being finalised to address current economic challenges, restore growth, and reposition the economy for sustained inclusive growth.
“The ERGP is different from the previous plans and visions that have been developed and not effectively implemented.
“Implementation of the ERGP will be driven by strong political will; close partnership and strong collaboration between public and private sectors, especially in the areas of agriculture, manufacturing, solid minerals, services and infrastructure.”
Udoma said the strategies include accelerating non-oil revenue generation, drastical reduction of costs and alignment of monetary, trade and fiscal policies.
Others are expand infrastructure especially power, road and rail;revamp the four existing refineries; improve ease of doing business; expand social investment programmes; deliver on agricultural transformation; and accelerate implementation of National Industrial Revolution Plan using Special Economic Zones.
