President Muhammadu Buhari has inaugurated the Economic Recovery and Growth Plan (ERGP) 2017-2020 .YOUNEWS ONLINE serves you 8 things you should know aout the new plan.
(1)It brought together all the sectoral plans for agriculture and food security, energy and transport infrastructure, industrialisation and social investments together in a single document.
(2) it builds on the Strategic Implementation Plan and sets out an ambitious roadmap to return the economy to growth and to achieve a seven per cent growth rate by 2020.
(3)It aims at helping state governments to draw aspiration and strategic direction from the plan to articulate their economic programmes, particularly in the development of the real sector.
(4) The Plan is a national plan, The contents of the Plan are already familiar to a broad cross-section of Nigerians because it was developed in consultation with a wide group of stakeholders, including the National Assembly, State Governments, the business community, labour unions, academia, civil society groups and development partners.’’
(5)Main focus of the plan is to change Nigeria from an import dependent country to a producing nation. “a nation where we grow what we eat and consume what we produce’’.
(6)The plan desire to optimise local content and empower local businesses. We seek not just to take the Nigerian economy out of recession but to place it on a path of sustained, inclusive and diversified growth.
(7)The Economic Recovery and Growth Plan (ERGP) 2017-2020 is targeted at having a strong Naira and productive economy..
8).The Plan was specifically designed to take the country out of the recession and, in the long term, continue to grow the economy while planning of the 2017 was also based on the ERGP to accelerate speedy recovery and development of infrastructure…
Ministry of Budget and National Planning for successfully coordinating the plan’s development.. the Economic Management Team under the leadership of the Vice President oversaw the drafting of the plan.
The Medium-Term ERGP was approved by the Federal Executive Council (FEC) during one of its meetings in 2017.