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National Economic Recovery Plan – Udoma Calls For Team Work

March 20, 2017

Budget and National Planning Minister, Senator Udoma Udo Udoma has called for team work among critical stakeholders to ensure the speedy recovery and growth of the Nigerian economy, emphasizing that the rescue responsibility is on all stakeholders

The Minister made the call in his office in Abuja when he received in audience, the Executive Secretary and Chief Executive of the Nigerian Investment Promotion Commission (NIPC), Ms Yewande Sadiku who was in the Ministry for a one-day working visit.

Specifically, Senator Udoma Udo Udoma said the recovery task calls for maximum cooperation and understanding between Ministries, Departments and Agencies on one hand, and sustained synergy between the public and private sectors.

Describing the Nigerian Investment Promotion Commission as an important partner in the recovery plan, Senator Udoma noted that the strong, resourceful, energetic and hardworking qualities of the NIPC leadership will provide the necessary impetus to the recovery drive.

Explaining that one of the key elements of the recovery plan is hinged on the speedy development of critical infrastructure such as roads, rail and energy, the Minister charged the NIPC to urgently mobilize the private sector to invest heavily in these areas, noting that, with a population of over 170 million people and vast natural resources, the Nigerian economy is a gold mine with promising returns on investment in practically all sectors of the country’s economy.

Expressing optimism that the country will exit recession sooner than expected, Senator Udoma Udoma pointed out that the over-subscription of the country’s bond, the marginal drop in inflation rate and minimal stability being witnessed in the forex market in recent times as well as the raising profile of our foreign reserves are clear indicators of the journey out of recession.

Senator Udoma Udo Udoma used the occasion to appeal to Nigerians to “have faith in their country, economy and leadership”

Speaking earlier, the Executive Secretary of the Nigerian Investment Promotion Commission, Ms Yeawande Sadiku told the Minister that the Commission is working assiduously to promote the required synergy between investors and critical stakeholders in various sectors of the Nigerian economy.

Maintaining that the Commission is mindful of the need for greater cooperation and coordination among stakeholders, the NIPC boss promised the Minister that her Commission will do its utmost to promote the ease of doing business within the area of its jurisdiction as part of its contribution to the recovery efforts.

Ben Bem Goong

Acting Director (Information)