- Reveals new roadmap to return the economy to growth
President Muhammadu Buhari, on Wednesday, April 5, 2017, unveiled Nigeria’s Economic Recovery and Growth Plan (ERGP) 2017 to 2020 at the Federal Executive Council Chambers, Sate House, Abuja.
The President recalled that the 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,” Buhari declared.
The President reassured that the All Progressives Congress (APC) government remains committed to delivering on the three key areas that they promised. The areas, the President reaffirmed, include 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,” Buhari declared.
“I want to assure all Nigerians that we are approaching the solution to our economic challenges with the same will and commitment, we have demonstrated in the fight against corruption and in the fight against terrorism and militancy,” he added.
President Buhari highlighted that the Economic Recovery and Growth Plan brings together all our sectoral plans for agriculture and food security, energy and transport infrastructure, industrialization and social investments together in a single document. “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,” he said.
The President maintained: 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.”
He stated further: “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. The Plan is a national plan, hence, the role of State Governments is critical to its success. I, therefore, wish to appeal to the 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 appealed to Nigerians to work with the government to ensure the achievement of those objectives. He remarked that the contents of the Plan are 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.
President Buhari commended the Ministry of Budget and National Planning for successfully coordinating the Plan’s development. He also commended of the Economic Management Team under the leadership of the Vice President for overseeing the drafting of the Plan.
He declared the Economic Recovery and Growth Plan a blueprint for use by the Nigerian people, government friends and partners and to guide development efforts over the next four years.