The Federal Government has commenced the preparation of the implementation strategies for the Nigerian Economic Recovery and Growth Plan.
The Minister of Budget and National Planning, Senator Udo Udoma, disclosed this on Tuesday in Abuja while speaking at the opening session of stakeholders’ engagement on the ERGP implementation roadmap.
The event which was held at the headquarters of the ministry was attended by renowned economists, representatives of international financial institutions as well as the country’s development partners.
The ERGP which was launched last month by President Muhammadu Buhari had three broad objectives with five key execution priorities.
The objectives are restoring growth to a positive and sustained path, investing in the Nigerian people to improve their living standards and building an economy that is globally competitive.
Udoma said while the economic recovery plan has been well crafted in line the economic priorities of government, there is no way the country can enjoy its full benefit unless it is effectively and faithfully implemented.
The minister admitted that in the past, the implementation of government programs has not been too encouraging owing to lack of effective implementation strategies.
He added that the current administration is determined to reverse this trend.
Explaining how the economic recovery plan would be implemented, Udoma said the first step is for the government to focus on its priorities adding that this would be followed by establishment of clear accountability, and development of detailed action plans.
He said other implementation strategies would involve mobilisation and allocation of resources to priority areas, creation of an enabling policy and regulatory environment and setting up delivery units to monitor and financial drive progress.
He said, “We are focussed on the full and effective implementation of every aspect of the ERGP.
“We are pursuing a path that would move Nigeria away from jobless growth driven mainly by petroleum revenues to an inclusive and broad-based growth.
“We cannot enjoy the benefits of the ERGP unless it is effectively and faithfully implemented. We have already commenced the process of developing a detailed implementation road-map.
“This will lay out the roadmap for a step by step delivery of each of the strategies. Each strategy would be further broken down into components activities, sub-activities and actions.”