On Thursday, the FG officials met with the Commissioners of Budget and Economic Development and Permanent Secretaries of related departments in states of the federation to get their inputs into the National Economic Recovery and Growth Plan, the gathering was an initiative of the FG to harvest inputs from all segments of the country to produce an all-inclusive growth plan that would pull the economy out of recession and set it on the path to sustainable growth, In the last 3 weeks, the FG had consulted with economic experts, private sector operators, academics and other stakeholders, which generated very insightful perspectives and ideas on issues to consider in the plan. The Minister of Budget and National Planning, Senator Udo Udoma, while addressing the opening session of the State Commissioners’ Round-table on Thursday, said their inputs were necessary because of the vital role that the states played in the Nigerian economy.
Mr. Akpandem James, quoted Udoma to have said that the recovery plan became imperative because of the current state of the economy, the minister said the current economy downfall reflected inherent structural issues in the country’s economy, the current manifestation of which began in mid-2014 when the global prices of oil crashed, he also said that the FG had taken steps in the 2016 budget to proactively address the challenges with policies designed to reflate the economy. Udoma said, The proposed initiatives prescribed by the plan should address our poor competitiveness, improve the business environment and attract investment in infrastructure, especially power, roads, rail and ports. We desire a plan that is realistic and will achieve the desired results. Your views are certainly invaluable in this regard. The NRGPs is expected to build on the existing SIP, which was an interim plan developed in April this year.
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