Sen. Udoma Udo Udoma,

FG Seeks NASS’ Support For Success Of Economic Recovery Plan

By Nse Anthony-Uko,
ABUJA (Sundiata Post) – The federal government has described as very critical the support of the National Assembly if the implementation of the Economic Recovery and Growth Plan (ERGP) is to succeed.
Minister of Budget and National Planning, Senator Udoma Udo Udoma, told members of the House of Representatives Tactical Committee on Recession that the National Assembly has a very important role to play in the successful implementation of the Recovery Plan, because achievement of the broad objectives will largely depend on execution of projects which are contained in budgets,
Members of the Committee were at the Ministry on Tuesday to further discuss ways of speedily getting the economy out of recession and reducing the economic hardship on the people, which are some of the core mandates of the committee.
The Minister, in a statement signed by his Media Adviser, Mr
Akpandem James, explained that the economic plan released last week by the Federal Government has a dual purpose of getting the economy out of recession and taking the country onto the path of sustainable and inclusive growth.
“For which we have to work closely with the National Assembly to secure your support”.
He pointed out that some aspects of the plan are already reflected in the 2017 Budget and that the plan is basically an exposure of what government had already started doing since inception. “This plan puts together all the things that we have been doing, including the strategies we have already developed and launched; which is why you are already seeing progress in agriculture and other areas.
“We have exited Cash calls in our joint venture relationships in the oil sector, which decision was announced last year; it is all part of the plan, so that funding of the joint ventures will no longer be a constraint, which is why in the plan also, we are targeting 2.5mbpd production of crude oil by 2020.”
Explaining why focus is still on crude oil even when government is laying emphasis on diversification into the non-oil sector, the Minister said the economy will continue to rely on oil in the short term. “We need revenue to get out of oil dependency and the fastest way to get that revenue is from oil. From the revenue we get from oil, we can invest in agriculture; we can invest in Export Processing Zones; we can invest in rail, ports, and all the things that will be needed to grow the non-oil economy.”
He mentioned development of agriculture and its value chain and manufacturing and its support infrastructure as areas that government is focusing on, to build a solid foundation for a sustainable and competitive economy for the future.
Senator Udoma noted that Nigerians are very resourceful and the private sector has the capacity to reverse the fortunes of the country if the right policies and the right structures are in place. “What Nigerians need is for government to create an enabling environment and we are determined to do just that.”
While pointing out that the ERGP is an inclusive national plan developed after extensive consultations, the Minister said those with good ideas on how to further enrich government strategies should pass them on as government is very receptive to ideas.
“My position has always been, there is no point staying out there and knocking everything, if you have a good idea, come with it and tell us how it will work and we will accommodate it. This is a national plan and we need everyone on board to achieve the objectives” he added.
He told the Committee members that the Executive will work closely with the Legislature on the implementation of the ERGP. “The plan already contains a number of initiatives and suggestions from the National Assembly and, as we continue with implementation we will always to welcome contributions from the National Assembly”.
Responding, Chairman of the Tactical Committee, Hon. Ayorinde Olabode, said the Committee and the Ministry can work together, since its focus is to achieve results in the five mandate areas given to the Committee by the House, within the four months period that it has to report back.

Related Story:  NEMA distributes relief materials to over 100 flood victims in FCT
Sundiata Post Media Ltd.

Address: 3rd Floor Office Suite, Bayelsa State Guest House, Plot 1038, Shehu Shagari Way, Maitama, Abuja, Nigeria.
Tel: +234(0)92900705, +234(0)8173460599
Whatsapp: +234(0)8053069436
BBM PIN: 5619150D

Enugu Regional Office: SW 1 New Haven Shopping Mall, Enugu, Enugu State, Nigeria.
Tel: +234(0)7062582838

London Office: 18 Belgrave Avenue, Wd18 7UE, Watford, United Kingdom.
Tel: +447417554143
Dubai Office: PAU Management Suite, Level 23 - Boulevard Plaza Tower 2, Emaar Boulevard,
P. O. Box 124342, Dubai, UAE.
Tel: +971 4 4096849 | Fax: +971 4 409 6850
About Us

SundiataPost is published by Sundiata Post Media Limited, Sundiata Post is Nigeria’s most authoritative online newspaper and ranks among the top five online news platforms in Nigeria.

Guild of Corporate online publishers
A Glance at Our Advert Rate.

Inside Pages

Size In Pixels - Amount

120×180 - N27,967.50

300×100 - N24,695

Text Link - N11,275

More Details info

About Us | Contact Us | Privacy Policy | Terms of Use | Advert Rate