The minister of Budget and National Planning, Senator Udoma Udoma yesterday disclosed that 59 strategies have been developed to end the current economic situation. He made this disclosure at the Presidential Villa in Abuja during the Second Presidential Business Forum.
He said the medium term Economic Recovery and Growth Plan (ERGP 2017-2020) was being finalised to address current economic challenges, restore growth and re-position the economy for sustained inclusive growth.
Udoma listed the following 12 out of 59 strategies that the government had prioritised based on their “importance to the success of the Economic Recovery and Growth Plan”.
- Restoring production to 2.2mbpd and reaching 2.5mbpd by 2020
- Privatising selected assets
- Accelerating non-oil revenue generation
- Drastically cutting costs
- Aligning monetary, trade and fiscal policies
- Expanding infrastructure especially power, Roads and rail
- Revamping the four existing refineries.
- Improving ease of doing business
- Expanding social investment programmes
- Delivering on agricultural transformation
- Accelerating implementation of National Industrial Revolution Plan
- Using special economic zones focusing on priority sectors in order to generate jobs as well as promote exports, boost growth and upgrade skills.
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Mudeerat Olawunmi is a graduate of Business Administration with over 5 years experience in online data gathering and analysis. Wunmi is a data analysts at Nairametrics and helps ensure that our readers get some of the most important macro and micro economic data required to help make investing decisions.