President Muhammadu Buhari on Wednesday unveiled the document for the Economic Recovery and Growth Plan (ERGP), which contains strategies to bail the country out of the current recession; encouraging growth and prosperity.
The unveiling took place shortly before the commencement of the meeting of Federal Executive Council, FEC, inside the Council Chamber, Aso Rock, Abuja today after about two years after he assumed office as new President of Nigeria.
The unveiling 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 plan which is the brainchild of the Ministry of Budget and National Planning contained 60 critical initiatives expected to help get Nigeria out of recession and reposition on the path of growth.
Some of the initiatives included stablizing macro-economic, energy infrastructure and driving industrialization.
Speaking at the brief ceremony that preceded the meeting of the Federal Executive Council, FEC, Buhari said that his government was determined to turn Nigeria from a consumer nation to a producing one.
“We are determined to change Nigeria from a consumer nation to a producing nation”, he said.
The Minister of Budget and National Planning, Mr. Udo Udoma, in his welcome address said that the initiative was in line with the change agenda of the government to revive the ailing economy.
“This is therefore a fulfilment to re-invigorate the economy”, he said.
Quite a number of financial experts have expressed optimism that there would be increased liquidity in the capital market in the second quarter of this year if the plan is stepped up for quick implementation.