Buhari and Osinbajo

By Victor Ernest

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The Federal government has released the ”Economic Recovery and Growth Plan” which is believed to be the catalyst to restore the ailing economy situation of the country.

The plan which has been under extensive consultations with stakeholders from both the private and public sectors of the economy was finally made public on Tuesday in Abuja by the Ministry of Budget and National Planning.

The Blueprint

The document contains the economic blueprint of the government for a three-year period from 2017 to 2020.

The aim of the plan is to increase national productivity and achieve sustainable diversification of production.

It is also to significantly grow the economy and achieve maximum welfare for the citizens, beginning with food and energy security.

From the document, it can be seen that, the main vision of the plan is to sustain inclusive growth to drive structural economic transformation with an emphasis on improving both public and private sector efficiency.

The plan predicts that by 2020, Nigeria would have made significant progress towards achieving structural economic change with a more diversified and inclusive economy.

5 major expectancy

Below is the 5 major expectancy of the three years plan:

  1. Stable macroeconomic environment
  2. Agricultural transformation and food security;
  3. Sufficiency in energy (power and petroleum products);
  4. Improved transportation infrastructure and
  5. Industrialization focusing on small and medium scale enterprises.