Recession: Economic recovery plan ready for launch, says Nigerian government

The Federal Executive Council on Wednesday says it has conclude the fine tuning of Nigeria’s growth recovery plan which now awaits presidential assent.

Minister of Budget and National Planning , Udo Udoma disclosed this to newsmen at the end of FEC meeting in Abuja.

“The growth plan is still being fine tuned, Allots of inputs were made by members of FEC and it’s virtually ready for the president to launch,” he said.

However, Udoma said before the launch proper by President Buhari, there will be some consultations. The plan is expected to drive economic recovery and form the basis for long term growth. It is also expected to enhance the countries competitiveness..

According to the minister, the plan is aimed at: “developing an economy with low inflation, stable exchange rate and a diversified inclusive and sustained growth”.

Other issues that the plan would address include: Nigeria’s poor competitiveness, improve the business environment and attracts investments in infrastructure. Infrastructure of prominence are power, roads, rails and ports. Jobs and social inclusion are also critical aspects of the plan.

Agriculture and food security, energy, industrialization, transportation and stabilization of the micro-economic environment were listed by Udoma as the immediate priority ares of the plan.

In order to achieve success, there would be an implementation unit stationed at the presidency. The minister said the private sector would be fully on board to drive the.

Economic recovery plan: Economic recovery plan: Economic recovery plan

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