• Home
  • Anti-Corruption
  • Fact-Check
  • Economy
  • National
    • Government
  • Security
  • Features
  • State
  • Event
    • PR Nigeria Award
  • E-Paper
Search
  • Home
  • About
  • Adverts
  • Contact
Sign in
Welcome! Log into your account
Forgot your password? Get help
Password recovery
Recover your password
A password will be e-mailed to you.
PRNIGERIA PRNigeria News
PRNIGERIA PRNIGERIA
  • Home
  • Anti-Corruption
    • NAHCON

      Renewed Hope in Hajj Operations: NAHCON Records Milestone Achievements Under Tinubu…

      Mohammed Idris Malagi, Honorable Minister of Information and National Orientation

      FG Reaffirms Non-Interference in ICPC, EFCC Operations

      ICPC Secures Conviction of Rector for Running Unaccredited Degree Programmes

      Engr Abba Babagana Dalori

      Engr Dalori Forfeits Galaxy Hospital, Petrol Station, Properties & Cash

      Chinese nationals jailed in Lagos

      Court Jails Nine Chinese Nationals for Cybercrime in Lagos

  • Fact-Check
  • Economy
    • FG, States, LGs Share N2.225trn Revenue for August – FAAC

      Nigeria Customs Aligns with Finance Ministry over 4% FOB Policy Review

      Members Board of Directors of Dangote Refinery

      Dangote Refinery Deploys 4,000 CNG Trucks, Promises 24,000 Jobs as Fuel…

      Renewed Hope in Central Banking

      Book Review: Renewed Hope in Central Banking – A Blueprint for…

      NAHCON

      Renewed Hope in Hajj Operations: NAHCON Records Milestone Achievements Under Tinubu…

  • National
    • FG, States, LGs Share N2.225trn Revenue for August – FAAC

      Tinubu Lifts State of Emergency in Rivers, Reinstates Fubara, Legislators

      Crowned Prince Salman of Saudi Arabia

      Saudi Frees Nigerian Pilgrims Framed by Drug Syndicate

      President Bola Ahmed Tinubu and Minister of Women Affairs Imaan Sulaiman-Ibrahim presenting a cheque to women

      Renewed Hope Agenda: Group Passes Vote Of Confidence On Tinubu’s Minister,…

      A Group of Terrorists/Bandits

      Nigeria Fights Back Against Banditry and Insecurity By Senator Iroegbu

    • Government
      • FG, States, LGs Share N2.225trn Revenue for August – FAAC

        ICPC Secures Six-Year Jail Term for Sokoto River Basin Director

        Chairman NAHCON Professor Abdullahi Saleh Usman meets with Katsina State Governor Dikko Radda

        NAHCON Boss Meets Katsina Governor, Pushes for Early 2026 Hajj Payments,…

        MURIC to Alaafin: No Law Grants You Power to Appoint Chief…

        President Bola Ahmed Tinubu and Minister of Women Affairs Imaan Sulaiman-Ibrahim presenting a cheque to women

        Renewed Hope Agenda: Group Passes Vote Of Confidence On Tinubu’s Minister,…

  • Security
    • ICPC Secures Six-Year Jail Term for Sokoto River Basin Director

      Police Officer

      Kaduna Police Arrest Two Suspects Over Illegal Possession of Firearms

      Nigeria’s Minister of Defence, Mohammed Badaru Abubakar,meets with Security Leaders in Beijing

      Badaru Joins Global Leaders at Beijing Forum on Peace, Security

      Crowned Prince Salman of Saudi Arabia

      Saudi Frees Nigerian Pilgrims Framed by Drug Syndicate

      Military Troops in Action

      Troops Ambush Bandits in Plateau, Neutralise One 

  • Features
    • A Group of Terrorists/Bandits

      Nigeria Fights Back Against Banditry and Insecurity By Senator Iroegbu

      A Group of Terrorists/Bandits

      Nigeria Fights Back Against Banditry and Insecurity

      Engr. Suleiman Bolakale Kawu Agaka

      Engr. Kawu: A Heroic Homecoming for a Man of the People…

      Prof Isa Pantami, former Minister of Communication and Digital Economy

      Gombe Tech Training: Pantami’s Call for a Paradigm Shift By Muhd…

      Healing Nigeria: A Chronicle of Health Reforms

      Book Review: Is This the Cure? A Look into Healing Nigeria…

  • State
    • ICPC Secures Six-Year Jail Term for Sokoto River Basin Director

      Chairman NAHCON Professor Abdullahi Saleh Usman meets with Katsina State Governor Dikko Radda

      NAHCON Boss Meets Katsina Governor, Pushes for Early 2026 Hajj Payments,…

      Police Officer

      Kaduna Police Arrest Two Suspects Over Illegal Possession of Firearms

      Crowned Prince Salman of Saudi Arabia

      Saudi Frees Nigerian Pilgrims Framed by Drug Syndicate

      MURIC to Alaafin: No Law Grants You Power to Appoint Chief…

  • Event
    • Chairman NAHCON Professor Abdullahi Saleh Usman meets with Katsina State Governor Dikko Radda

      NAHCON Boss Meets Katsina Governor, Pushes for Early 2026 Hajj Payments,…

      Flier for the programs that happened for the elderly by members of BUKAA FCT

      BUKAA FCT Appreciates Sponsors after Aerobics, Football Exercises

      Prof. Abubakar Mu’azu

      UNIMAID appoints Prof. Mu’azu as Pioneer Dean, Faculty of Communication

      NIPR President Ike Neliaku

      NIPR Inducts 422 New Members, Urges Commitment to National Unity

      Baze University Management visits TETFUND, Showcases Tech-Driven Growth, National Impact

    • PR Nigeria Award
  • E-Paper
Home General Economy Recovery Plan: Private sector operators hail stakeholders’ involvement, advice on effective...
  • General
  • National

Economy Recovery Plan: Private sector operators hail stakeholders’ involvement, advice on effective implementation

By
Akpandem James
-
February 7, 2017
Private sector operators on Monday said Federal Government’s engagement of key stakeholders in the development process of the national economy plan showed a genuine desire to rapidly grow the economy, but pointed out that diligent implementation was key to achieving the goal.
 
Captains of industry and heads of the various Chambers of Commerce and Industry across the country, who gathered in Abuja for the consultative forum, variously pointed out that past development plans were rendered useless by either lack of, or poor implementation.
 
They therefore advised that if the Economic Recovery and Growth Plan (NERGP) being put together is to achieve the desired objective, deliberate structures must be put in place for diligent implementation, effective monitoring and thorough evaluation.
 
Acting President, Prof. Yemi Osinbajo, who presided over the session, assured that government is determined to put back the Nigerian economy on a sound footing through diligent implementation of the recovery and growth plan.
 
While acknowledging that there is suffering in the land occasioned by the current economic downturn, he pointed out that the years of deterioration and corruption cannot be remedied overnight.
 
Prof Osinbajo said that notwithstanding, it is the responsibility and duty of government to ensure that the economy is put back on a sound footing and the slide in economic fortunes arrested for the benefit of the people and the country.
 
In the short term, the acting President said government has intervened in several ways to mitigate the sufferings of the people, including giving bailouts to State governments to enable them pay salaries of workers.
 
Also assuring on government’s determination to diligently implement the Plan, the Minister of Budget and National Planning, Senator Udoma Udo Udoma, said major emphasis will be on implementation, monitoring and evaluation of the Plan as government plans to set up a specially staffed Delivery Unit to drive implementation.
 
He said the Plan being discussed is a medium-term Plan, which is expected to drive Nigeria to a minimum GDP growth rate of 7% within the Plan period. “Our goal is to have an economy with low inflation, stable exchange rates, and a diversified and inclusive growth”.
 
He emphasized that the key to success lies in the seriousness of the execution aspect of the process, stating that the immediate execution priorities of the ERGP are Agriculture and food security; Energy (power and petroleum); Small Businesses and Industrialization and stabilizing the Macroeconomic Environment.
 
The Minister said the forum was in keeping with government’s promise to consult widely and harvest inputs from the relevant sectors and professionals to enrich the plan and make it all inclusive.
 
“We had a two day retreat at which we invited top economists, academia and some representatives of both the public and private sectors. We have held consultations with State Commissioners for Economic Planning and Budget and with State Governors at the National Economic Council. We have had sessions with international development partners and have also had briefing and consultation sessions with the National Assembly. This meeting with you forms part of the consultations we are holding before finalizing the Plan”, he stated.
 
The specific objective of Monday’s forum with private sector operators was to review the context for Nigeria’s ERGP, share the Plan’s structure and discuss potential key initiatives and solicit feedback from them.
The principles of the Plan include:
 
■      Focus on tackling constraints to growth. Nigerian growth faces various supply constraints including fuel, power, foreign exchange, and even business unfriendly regulation. This Plan focuses on overcoming and resolving these input challenges.
■      Leverage the power of the private sector. Economic recovery and transformative growth cannot be achieved by the government alone. It is essential to harness the entrepreneurial nature of Nigerians, from the MSMEs to the large domestic and multinational corporations.
■      Promote national cohesion and social inclusion. The ultimate beneficiary of more inclusive growth is the average Nigerian man and woman. This Plan ensures social inclusion in its initiatives with the end goal of strengthening national cohesion.
■      Allow markets to function. We recognize the power of markets to drive optimal behaviour among market participants. The Plan prioritizes the use of the market as a means of resource allocation where possible and supports a more business friendly economic environment.
■      Uphold core values. The ERGP is rooted in the core values that define Nigerian society and are enshrined in the 1999 Constitution, notably discipline, integrity, dignity of labour, social justice, religious tolerance, self-reliance and patriotism. It requires all citizens and stakeholders to adhere to these principles in the bid to reposition and grow the economy in a sustainable manner.
 
Signed:
Akpandem James
Media Adviser to the Hon. Ministe
VISIT OUR OTHER WEBSITES
PRNigeria.com EconomicConfidential.com PRNigeria.com/Hausa/
EmergencyDigest.com PoliticsDigest.ng TechDigest.ng
HealthDigest.ng SpokesPersonsdigest.com TeensDigest.ng
ArewaAgenda.com Hausa.ArewaAgenda.com YAShuaib.com
  • TAGS
  • (NERGP)
  • Prof. Yemi Osinbajo
  • Senator Udoma Udo Udoma
Previous articleFG Inaugurates Committees Towards Improving Quality Of Healthcare For Mothers And Newborn
Next articleAppointment Of Interim MD/CEO For TCN – A Prerogative Of The President – FASHOLA
Akpandem James
Akpandem James
https://prnigeria.com
PRNigeria is the pioneer Press Release Distribution agency in Nigeria. A member of image Merchant Promotions limited, PRNigeria encourages individuals and organisations to be more transparent in their information management. with dedicated Editorial staffs, the PRNigeria ensures that information provided on its platforms are timely, factual and authoritative Read more at: //prnigeria.com/about/
Facebook Twitter

RELATED ARTICLESMORE FROM AUTHOR

FG, States, LGs Share N2.225trn Revenue for August – FAAC

Tinubu Lifts State of Emergency in Rivers, Reinstates Fubara, Legislators

Crowned Prince Salman of Saudi Arabia

Saudi Frees Nigerian Pilgrims Framed by Drug Syndicate

MURIC to Alaafin: No Law Grants You Power to Appoint Chief Imam of Oyo

President Bola Ahmed Tinubu and Minister of Women Affairs Imaan Sulaiman-Ibrahim presenting a cheque to women

Renewed Hope Agenda: Group Passes Vote Of Confidence On Tinubu’s Minister, Imaan Sulaiman-Ibrahim

A Group of Terrorists/Bandits

Nigeria Fights Back Against Banditry and Insecurity By Senator Iroegbu

Court Reaffirms ICPC’s Power on Investigation of Kano Scholarship Funds

Flier for the programs that happened for the elderly by members of BUKAA FCT

BUKAA FCT Appreciates Sponsors after Aerobics, Football Exercises

Troops Neutralise Five Terrorists in Borno, Taraba Operations

Omoyele Sowore and President Bola Ahmed Tinubu

Finally, DSS Files Charge Against Sowore, Twitter, and Facebook over Anti-Tinubu Post

Prof Isa Pantami, former Minister of Communication and Digital Economy

Gombe Tech Training: Pantami’s Call for a Paradigm Shift By Muhd El-Bonga Ibraheem

Troops Eliminate 2 ISWAP Senior Commanders, Other Terrorists in Borno

LEAVE A REPLY Cancel reply

Log in to leave a comment

Recent Posts

  • FG, States, LGs Share N2.225trn Revenue for August – FAAC
  • ICPC Secures Six-Year Jail Term for Sokoto River Basin Director
  • NAHCON Boss Meets Katsina Governor, Pushes for Early 2026 Hajj Payments, Promises Easier Exercise
  • Kaduna Police Arrest Two Suspects Over Illegal Possession of Firearms
  • Tinubu Lifts State of Emergency in Rivers, Reinstates Fubara, Legislators
  • Home
  • About
  • Adverts
  • Contact
© 2020 PRNigeria. All Rights Reserved.
Latest News
FG, States, LGs Share N2.225trn Revenue for August – FAACICPC Secures Six-Year Jail Term for Sokoto River Basin DirectorNAHCON Boss Meets Katsina Governor, Pushes for Early 2026 Hajj Payments, Promises Easier ExerciseKaduna Police Arrest Two Suspects Over Illegal Possession of FirearmsTinubu Lifts State of Emergency in Rivers, Reinstates Fubara, LegislatorsBadaru Joins Global Leaders at Beijing Forum on Peace, SecuritySaudi Frees Nigerian Pilgrims Framed by Drug SyndicateTroops Ambush Bandits in Plateau, Neutralise One MURIC to Alaafin: No Law Grants You Power to Appoint Chief Imam of OyoRenewed Hope Agenda: Group Passes Vote Of Confidence On Tinubu’s Minister, Imaan Sulaiman-IbrahimNigeria Fights Back Against Banditry and Insecurity By Senator IroegbuNigeria Fights Back Against Banditry and InsecurityNavy Retrains Personnel on Weapon Handling to Boost Operational EfficiencyFirefighters Rescue Nine Victims from Burning 6-Storey Building in LagosPolice Arrest Seven over Death of IBB University Student, Nab Four Robbery Suspects in Suleja
X whatsapp