April 5, 2017 (Lensng)

Due to  the high rate of inflation and the recession rocking the economy, President Muhammadu Buhari has launched the Nigeria Economic Recovery and Growth Plan (ERGP) which seeks to restore the nation’s economic status.

He launched the plan shortly before the commencement of the meeting of the Federal Executive Council (FEC) inside the Council Chamber, Aso Rock, Abuja on Wednesday.

The launch was attended by all cabinet members as well as top government functionaries including the national chairman of the governing All Progressives Congress, APC, John Odigie-Oyegun; Senate President Bukola Saraki; Speaker of the House of Representatives, Yakubu Dogara; and chairman of the Nigeria Governors Forum, NGF, and Governor of Zamfara State, Abdulaziz Yari.

The president said the ERGP focuses on agriculture with a view to ensuring adequate food security as well as energy, industrialization and social investment.

He said the ERGP is an ambitious plan that seeks to achieve a 7 per cent economic growth by the year 2020.

Buhari said the aim is not just to take the country out of recession, but to put it on the path of strength and growth, away from being an import dependent nation.

He also said the ERGP clearly sets out what his government is committed to doing by creating an environment for businesses to thrive.

The President said: “Security in the North East and other parts of Nigeria today is better than when we came in. Law enforcement agencies are prosecuting many cases of corruption and I assure all Nigerians that we are approaching our economic challenges in the same manner we are fighting insecurity and corruption.

“The broad objectives of the ERGP are to restore growth, invest in our people and build a globally competitive economy,”

“We must produce what we need,” he said.

Buhari called on state governors to draw inspiration from the plan and articulate their own plans that will lead them to real growth.