By Bukola Adetoye
Lagos – The Nigerian Council of Insurance Brokers (NCRIB) on Tuesday urged the Federal Government to fully implement the Economic Recovery and Growth Plan (ERGP) in order to strengthen the economy.
The President of the council, Mr Kayode Okunoren, made the call in an interview with the News Agency of Nigeria (NAN) in Lagos.
NAN reports that the Federal Government on April 5, launched the plan toward diversifying the economy and improving the welfare of the citizens.
Okunoren said that with Nigeria’s economy gradually improving, full implementation of the ERGP would further accelerate its recovery.
He advised that N2.98 trillion allocated for recurrent expenditure and N2.17 trillion for capital expenditure in the 2017 budget should be diligently applied to the implementation of the ERGP blue print.
“It is commendable that the power, works and housing ministry got the largest share of capital expenditure while the transportation ministry also got a substantial amount in this year’s budget.
“Life could be miserable without shelter, food and some basic social amenities,’’ he said.
Okunoren also urged President Muhammadu Buhari to scrutinise all increments made to the sectoral allocations in the current budget.
He said, “Any increment request by the executive arm of government should only be justified on the grounds of increasing capital expenditure in critical sectors.”
The council president said that the increment should not be for the benefit of running an arm of the government alone but in the overall interest of the economy.
The NCRIB boss congratulated Buhari on his safe return from medical vacation in London, saying that his recovery was an indication that the country would overcome its current challenges. (NAN)