FG to Launch Fresh Initiative on ERGP to Boost Job Creation Today

The federal government said on Monday that it would today
inaugurate what it termed Joint Working Group for the Economic
Recovery and Growth Plan (ERGP) Focus Labs in the State House,
Abuja to boost economic growth.

A statement by Vice President Yemi Osinbajo’s spokesman, Mr.
Laolu Akande, said the establishment of the Focus Labs was
conceived to create jobs and ensure Nigeria continues its journey
of building a competitive economy.

According to him, the objectives of ERGP include: eradicating
corruption in government procurement and processes, prudent
management of resources, social inclusion, overcoming power
constraints and dearth of skills, and promotion of private sector
inclusion.

Akande said in less than one year of the launch of ERGP, its
implementation has launched the country into significant economic
strides, including its exit from recession last year and improved
stability in the fiscal and monetary markets.

“Also, in last year’s World Bank Doing Business index, Nigeria
jumped 24 places and was listed among the 10 most reforming
economies globally, feats that have attracted wide applause and
commendation for the economic policies of the Buhari
administration.

“In line with the administration’s economic focus and direction,
which includes restoring growth and building a competitive economy,
the ERGP Focus Labs are aimed at driving new investments that would
create hundreds of thousands of jobs for Nigerians across the 36
states of the federation and, in the long-term, continue to grow
the economy.

“A Central Steering Committee and Joint Working Group of the
ERGP Focus Labs will be formed comprising nine ministers in
Agriculture, Transport, Solid Minerals, Industry Trade and
investment, Power Works and Housing, Petroleum Resources, Finance,
Justice and of course Budget and National Planning,” the statement
said.

The statement added that the responsibilities of the Central
Steering Committee of the government would include steering the
labs and ensuring active collaboration with the private sector to
remove inhibitions that may have impeded some of the priority
investment projects that have been stalled for too long.

It also said the Joint Working Group would comprise senior
public officers from the six aforementioned pilot ministries, and
their agencies with the mandate of working with the senior special
assistants to the president on the implementation of ERGP to plan
the labs successfully and address the inter-agency bottlenecks that
the investors will bring to the labs.

It listed other tasks of members of the core sector teams in the
group to include: generation and validation of sector data,
provision of sector specific information and context, provision of
technical perspective and government policy position.

“The Working Group would also be tasked with making decisions on
behalf of the government that promotes investment and national
interest, build Institutional memory, strengthen Institutional
capacity, and encourage institutional ownership,” the statement
added.

The federal government said on Monday that it would today
inaugurate what it termed Joint Working Group for the Economic
Recovery and Growth Plan (ERGP) Focus Labs in the State House,
Abuja to boost economic growth.

A statement by Vice President Yemi Osinbajo’s spokesman, Mr.
Laolu Akande, said the establishment of the Focus Labs was
conceived to create jobs and ensure Nigeria continues its journey
of building a competitive economy.

According to him, the objectives of ERGP include: eradicating
corruption in government procurement and processes, prudent
management of resources, social inclusion, overcoming power
constraints and dearth of skills, and promotion of private sector
inclusion.

Akande said in less than one year of the launch of ERGP, its
implementation has launched the country into significant economic
strides, including its exit from recession last year and improved
stability in the fiscal and monetary markets.

“Also, in last year’s World Bank Doing Business index, Nigeria
jumped 24 places and was listed among the 10 most reforming
economies globally, feats that have attracted wide applause and
commendation for the economic policies of the Buhari
administration.

“In line with the administration’s economic focus and direction,
which includes restoring growth and building a competitive economy,
the ERGP Focus Labs are aimed at driving new investments that would
create hundreds of thousands of jobs for Nigerians across the 36
states of the federation and, in the long-term, continue to grow
the economy.

“A Central Steering Committee and Joint Working Group of the
ERGP Focus Labs will be formed comprising nine ministers in
Agriculture, Transport, Solid Minerals, Industry Trade and
investment, Power Works and Housing, Petroleum Resources, Finance,
Justice and of course Budget and National Planning,” the statement
said.

The statement added that the responsibilities of the Central
Steering Committee of the government would include steering the
labs and ensuring active collaboration with the private sector to
remove inhibitions that may have impeded some of the priority
investment projects that have been stalled for too long.

It also said the Joint Working Group would comprise senior
public officers from the six aforementioned pilot ministries, and
their agencies with the mandate of working with the senior special
assistants to the president on the implementation of ERGP to plan
the labs successfully and address the inter-agency bottlenecks that
the investors will bring to the labs.

It listed other tasks of members of the core sector teams in the
group to include: generation and validation of sector data,
provision of sector specific information and context, provision of
technical perspective and government policy position.

“The Working Group would also be tasked with making decisions on
behalf of the government that promotes investment and national
interest, build Institutional memory, strengthen Institutional
capacity, and encourage institutional ownership,” the statement
added.