The Federal Government says it will use Task-Forces to implement key priority areas outlined in the recently inaugurated Economic Recovery and Growth Plan (ERGP) to ensure its effective implementation.
The Minister of Budget and National Planning, Sen. Udoma Udo Udoma disclosed this at a news conference on ERGP on Tuesday in Abuja.
The ERGP projected that Nigeria would make significant progress to achieve structural economic change with a more diversified and inclusive economy in five key areas by 2020.
The key areas are stable macro-economic environment, agricultural transformation, food security, sufficiency in energy and improved transportation infrastructure.
Udoma said the Task-Forces would monitor execution of projects and programmes in the respective sectors and report back to the government.
“Some of these Task-Forces may also have representation from the states and private sector; already we have task forces working on rice, power and tomato paste.
“Active engagement with the private sector. We will be having regular and active engagements with the private sector on a sectoral basis.
“This will be led by the relevant ministers. In particular, the Minister of Investments, Trade and Industry will be meeting with manufacturers to try to replicate the success in the cement industry.”
Udoma said that the aim would be to seek self-sufficiency, wherever possible in the basic products that the country need and use.
According to him, the initial concentration will of course, be in areas where they will be raw materials locally, such as petrochemicals.
“We will seek to establish what constraints the particular sector has and how government can help to remove the bottlenecks.
“As the ERGP says, our role as government is to provide the enabling environment,’’ the minister said.
According to him, the implementation of the plan will be coordinated by the Ministry of Budget and National Planning.
In addition, Udoma said they were a number of initiatives being put in place to ensure effective implementation.
“A more detailed implementation road map is being drawn up by a team of experts who are working with officials of the ministry together with officials of other MDAs.
“They will be working out a more detailed cost estimate and financing plan,’’ he said.
Udoma said that ERGP was anchored on five principles, namely: tackling constraints to economic growth: leveraging the power of the private sector to drive economic recovery and sustained growth.
“Promoting national cohesion and social inclusion; allowing markets to function optimally while strengthening Government regulatory oversight to minimise abuse; and also upholding core values that define the Nigerian society,’’ he said.
Udoma said the ERGP recognised the need to increase national productivity and achieve sustainable diversification of production, to significantly grow the economy and achieve maximum welfare for the citizens.
He said the Plan would be a pointer to the type of Nigeria that citizens desire in the short to medium term, as well as encourage the use of science, technology and innovation to drive growth.
“It also provides a blueprint for the type of foundation that needs to be laid for future generations, and focuses on building the capabilities of the youth of Nigeria to be able to take the country into the future.
“In short, this will be a future in which we grow what we eat, consume what we make, and produce what we use,’’ the minister said.
NERGP provides a blueprint for Nigeria’s recovery from recession and placing it on the path of sustained inclusive and diversified growth and development. (NAN)
