Nigeria's economic recovery plan ready before end of February: official

Nigeria's anticipated National Economic Recovery Growth Plan (NERGP) will be ready before the end of February, an official said Friday.

Akpandem James, spokesperson in the Ministry Budget and National Planning, who made the remarks in Abuja, said government, through the plan, is targeting a growth rate of 7 percent between 2017 and 2020.

The NERGP, focuses on five broad areas namely: macroeconomic policy, economic diversification and growth drivers, competitiveness, social inclusion and jobs, and governance and other enablers.

The plan is expected to be formally launched by President Mohammadu Buhari, he added, noting that the government plans to brainstorm with economic experts from the private sector before finalising its development process, before the launch.

Apart from economic experts, the organised private sector, civil society groups, the academia and State governments will also be consulted.

This is expected to enrich the Plan development process, he said.

According to him, the forum, scheduled for Monday, Feb. 6, 2017, is expected to be chaired by Vice President Yemi Osinbajo.

"The NERGP is a follow-up to the Strategic Implementation Plan (SIP) which was a short term economic plan to drive the implementation of the 2016 Budget," James said.

The plan aims to address current economic challenges, restore growth, and re-position the economy for sustained inclusive growth, he added.

The spokesperson said 59 strategies have been developed, out of which 12 have been prioritized based on their importance to the success of the plan. Enditem