Following the high rate of inflation and the recession rocking the
economy, President Muhammadu Buhari has launched the Nigeria Economic
Recovery and Growth Plan (ERGP) which seeks to restore the nation’s
economic status.
He launched the plan shortly before the commencement of the meeting
of the Federal Executive Council (FEC) inside the Council Chamber, Aso
Rock, Abuja on Wednesday.
The launch was attended by all cabinet members as well as top
government functionaries including the national chairman of the
governing All Progressives Congress, APC, John Odigie-Oyegun; Senate
President Bukola Saraki; Speaker of the House of Representatives, Yakubu
Dogara; and chairman of the Nigeria Governors Forum, NGF, and Governor
of Zamfara State, Abdulaziz Yari.
The president said the ERGP focuses on agriculture with a view to
ensuring adequate food security as well as energy, industrialization and
social investment.
He said the ERGP is an ambitious plan that seeks to achieve a 7 per cent economic growth by the year 2020.
Buhari said the aim is not just to take the country out of recession,
but to put it on the path of strength and growth, away from being an
import dependent nation.
He also said the ERGP clearly sets out what his government is
committed to doing by creating an environment for businesses to thrive.
The President said: “Security in the North East and other parts of
Nigeria today is better than when we came in. Law enforcement agencies
are prosecuting many cases of corruption and I assure all Nigerians that
we are approaching our economic challenges in the same manner we are
fighting insecurity and corruption.
“The broad objectives of the ERGP are to restore growth, invest in our people and build a globally competitive economy,”
“We must produce what we need,” he said.
Buhari called on state governors to draw inspiration from the plan
and articulate their own plans that will lead them to real growth.