After months of extensive consultations with stakeholders from both
the private and public sectors of the economy, the Federal Government on
Tuesday finally released the Economic Recovery and Growth Plan which is
expected to take the country out of recession.
The document
which was released by the Ministry of Budget and National Planning
contains the economic blueprint of the government for a three year
period from 2017 to 2020.
The core vision of the plan is one of
sustained inclusive growth to drive structural economic transformation
with an emphasis on improving both public and private sector efficiency.
The
aim is to increase national productivity and achieve sustainable
diversification of production, to significantly grow the economy and
achieve maximum welfare for the citizens, beginning with food and energy
security.
The plan envisages that by 2020, Nigeria would have
made significant progress towards achieving structural economic change
with a more diversified and inclusive economy.
Overall, the plan
is expected to deliver on five key broad outcomes,which are a stable
macroeconomic environment; agricultural transformation and food
security; sufficiency in energy (power and petroleum products); improved
transportation infrastructure and industrialization focusing on small
and medium scale enterprises.
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