LCCI calls for faithful implementation of ERGP


The Director-General of Lagos Chamber of Commerce and Industry (LCCI), Muda Yusuf, on Monday called for faithful implementation of the Economic Recovery and Growth Plan (ERGP).

Yusuf said  in Lagos that the plan would help to stop policy uncertainties.

He said that the plan would also boost investors’ confidence in the economy as it had made clear the direction of the government.

“You know that a number of Nigerians have complained that they did not know the economic direction of the government.

“The Economy Recovery and Growth Plan has shown what the government policies are.

“This will help to enhance the confidence of foreign and local investors.

“Also the good thing about the plan is that foreign investors will be encouraged to bring in more funds into the country”.

The LCCI boss said that the plan had a delivery unit to monitor its implementation.

“We have had similar plans in the past, but implementation had always been the problem.

“So, one good thing about the plan is the clear expression about its implementation,” he said.

Yusuf advised government to ensure proper coordination of fiscal, monetary and trade policies as important elements of the plan.

He expressed optimism that the plan would have positive effects on foreign exchange market and makes it market driven.

“It is important and of interest to monitor how fast this can be delivered because it will bring normalcy to the foreign exchange management and also address challenges in the market”.

The Chairman of Ota Branch of Manufacturers Association of Nigeria (MAN), Wale Adegbite, also urged that the plan should be well implemented.

Adegbite said that nothing could be said yet about the plan until the implementation stage.

He said that the era of non-implementation of policies had gone and called for full implementation for the success of the policy.

“It is one thing to have a plan and another is to implement it.

“It is only at the point of implementation that we can assess the policy.

“At this stage, we can only urge the government to ensure that the policy achieved its target.

“Like I said, they are all good intentions and they are all achievable once they put their minds into it,” Adegbite said.