• 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
    • Chinese nationals jailed in Lagos

      Court Jails Nine Chinese Nationals for Cybercrime in Lagos

      ASUU

      Tackle Corruption, Institutional Decay – ASUU Charges FG

      EFCC Arraigns Bauchi Accountant General Over N8bn Fraud as Court Sentences…

      PRNigeria logo fearured image

      EFCC Arraigns Ex-Convict, Other for Naira Abuse in Lagos

      EFCC Arrests 37 Suspected Internet Fraudsters in Ilorin

  • Fact-Check
  • Economy
    • Customs Diplomacy: Nigeria, Saudi Arabia Ink Mutual Assistance Deal

      Comptroller General Nigerian Customs Bashir Adewale

      Nigeria, Belarus Forge Alliance to Combat Smuggling, Facilitate Trade

      President Bola Ahmed Tinubu and CG Customs, Bashir Adewale Adeniyi

      Tinubu Hails Customs Boss Wale Adeniyi on Historic Election as WCO…

      WTO Lauds Nigeria Customs for Embracing Global Trade Standards

      Nigeria, Rwanda Sign Landmark Tax Treaty to Boost Cross-Border Investment

  • National
    • For Aminu Dantata to Sleep Well… By Abdullahi O Haruna Haruspice

      Nigerian Dignitaries, Business Leaders Attend Aminu Dantata’s Burial in Madinah Saudi…

      IGP Kayode Egbetokun Police Boss

      Police Rescue Trafficked Ghanaian Youth in Abuja

      Bashir Adewale Adeniyi Customs Boss

      Bashir Adeniyi: A Roadmap to Global Customs Leadership By Tahir Ahmad

      Arewa Discussion Group

      Arewa Discussion Group Launched to Tackle Northern Challenges

    • Government
      • Nigerian Dignitaries, Business Leaders Attend Aminu Dantata’s Burial in Madinah Saudi…

        Dantata laid to rest at Medina Cemetery

        Legendary Business Mogul Aminu Dantata Laid to Rest in Madinah Cemetery

        Tinubu Seeks Visa Waivers, Scholarships as Nigeria Establishes Diplomatic Ties with…

        Malam Yusuf Abubakar Dingyadi

        Dingyadi, PDP Chair’s Vocal Spokesperson, Resigns

        Ambassador Yusuf Maitama Tuggar

        Ambassador Tuggar’s Doctrine of Calm in a World on Fire By…

  • Security
    • Nigerian Police Force

      Anambra Police Launch Manhunt After Gunmen Kill 10 in Ogboji Attack

      MATAWALLE, cds, AND pERM SEC OF dEFENCE MINISTRY

      “You Are Now Nigeria’s Frontline Guardians in War Against Terrorism –…

      IGP Kayode Egbetokun Police Boss

      Police Rescue Trafficked Ghanaian Youth in Abuja

      Police Officer

      FCT Police Nab Notorious Kidnappers Linked to Killings, Mass Abductions in…

      Chief of Defence Staff (CDS), Gen. Christopher Musa

      Okuama 17: Court Orders Military Chief to Produce Detained Monarch in…

  • Features
    • For Aminu Dantata to Sleep Well… By Abdullahi O Haruna Haruspice

      Bashir Adewale Adeniyi Customs Boss

      Bashir Adeniyi: A Roadmap to Global Customs Leadership By Tahir Ahmad

      IGP Kayode Egbetokun Police Boss

      IGP Egbetokun: Leading the Charge for a Safer Nigeria By Danjuma…

      NDLEA Logo

      Drug Culture in Nigerian Music: When Art Imitates Harm By Arafat…

      Ambassador Yusuf Maitama Tuggar

      Ambassador Tuggar’s Doctrine of Calm in a World on Fire By…

  • State
    • For Aminu Dantata to Sleep Well… By Abdullahi O Haruna Haruspice

      Dantata laid to rest at Medina Cemetery

      Legendary Business Mogul Aminu Dantata Laid to Rest in Madinah Cemetery

      IGP Kayode Egbetokun Police Boss

      Police Rescue Trafficked Ghanaian Youth in Abuja

      Police Officer

      FCT Police Nab Notorious Kidnappers Linked to Killings, Mass Abductions in…

      Chief of Defence Staff (CDS), Gen. Christopher Musa

      Okuama 17: Court Orders Military Chief to Produce Detained Monarch in…

  • Event
    • NELFUND

      NELFUND Warns Students Against Fake Loan Application Portal

      EFCC Witness: Yahaya Bello Had No Property Dealings With EFAB

      Hon. Rukayat Motunrayo Shittu (RMS), with PRNigeria Ladies in PR I'm Abuja

      Rukayat Shittu Set to Publish Inspirational Book “Cracking the Glass Ceiling”,…

      Chief Cornelius Olatunji Adebayo

      Former Kwara Governor, Chief Adebayo, Dies at 84

      Managing Editor of Image Merchants, Mr Abdulrahman Abdulraheem, PR Expert, Celestine Achi and the Editor-in-chief, Yushau Shuaib presenting the book to PRNigeria center

      PRNigeria Commends New Book on Artificial Intelligence in Public Relations

    • 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

For Aminu Dantata to Sleep Well… By Abdullahi O Haruna Haruspice

Nigerian Dignitaries, Business Leaders Attend Aminu Dantata’s Burial in Madinah Saudi Arabia

Dantata laid to rest at Medina Cemetery

Legendary Business Mogul Aminu Dantata Laid to Rest in Madinah Cemetery

PRNigeria logo fearured image

Protesters Occupy Public Offices, Call for NMDPRA Boss Probe

IGP Kayode Egbetokun Police Boss

Police Rescue Trafficked Ghanaian Youth in Abuja

Police Officer

FCT Police Nab Notorious Kidnappers Linked to Killings, Mass Abductions in Abuja, Kaduna

Chief of Defence Staff (CDS), Gen. Christopher Musa

Okuama 17: Court Orders Military Chief to Produce Detained Monarch in Delta

Bandits in violence terrorism

Unexploded Military Ordnance Recovered in Damaturu by Police

A Group of Terrorists/Bandits

Separate IED Explosions Kill Teenager, Injure 2, Destroy Bridge in Borno

Troops Eliminate 8 Boko Haram/ISWAP Terrorists in Borno

Cyril Tsenyil as the pioneer Managing Director of the North Central Development Commission

Youths Applaud Tsenyil’s Confirmation, Back Tinubu’s Regional Development 

Bashir Adewale Adeniyi Customs Boss

Bashir Adeniyi: A Roadmap to Global Customs Leadership By Tahir Ahmad

LEAVE A REPLY Cancel reply

Log in to leave a comment

Recent Posts

  • For Aminu Dantata to Sleep Well… By Abdullahi O Haruna Haruspice
  • Nigerian Dignitaries, Business Leaders Attend Aminu Dantata’s Burial in Madinah Saudi Arabia
  • Legendary Business Mogul Aminu Dantata Laid to Rest in Madinah Cemetery
  • Anambra Police Launch Manhunt After Gunmen Kill 10 in Ogboji Attack
  • Protesters Occupy Public Offices, Call for NMDPRA Boss Probe
  • Home
  • About
  • Adverts
  • Contact
© 2020 PRNigeria. All Rights Reserved.
Latest News
For Aminu Dantata to Sleep Well… By Abdullahi O Haruna HaruspiceNigerian Dignitaries, Business Leaders Attend Aminu Dantata's Burial in Madinah Saudi ArabiaLegendary Business Mogul Aminu Dantata Laid to Rest in Madinah CemeteryAnambra Police Launch Manhunt After Gunmen Kill 10 in Ogboji AttackProtesters Occupy Public Offices, Call for NMDPRA Boss Probe"You Are Now Nigeria’s Frontline Guardians in War Against Terrorism – Matawalle Tells Special Forces GraduatesPolice Rescue Trafficked Ghanaian Youth in AbujaFCT Police Nab Notorious Kidnappers Linked to Killings, Mass Abductions in Abuja, KadunaOkuama 17: Court Orders Military Chief to Produce Detained Monarch in DeltaUnexploded Military Ordnance Recovered in Damaturu by PoliceSeparate IED Explosions Kill Teenager, Injure 2, Destroy Bridge in BornoTroops Eliminate 8 Boko Haram/ISWAP Terrorists in BornoYouths Applaud Tsenyil’s Confirmation, Back Tinubu’s Regional Development Troops Eliminate 10 Terrorists in Fierce Battle Near Cameroon BorderBashir Adeniyi: A Roadmap to Global Customs Leadership By Tahir Ahmad
X whatsapp