Minister of Budget and National Planning, Senator Udoma Udoma announced that it has outlined strategies to end the economic recession ravaging the country. He made the disclosure during the Second Presidential Business Forum presided over by acting President Yemi Osinbajo at the Presidential Villa in Abuja today.
He added that the medium term Economic Recovery and Growth Plan (ERGP 2017-2020) was being finalized to address current economic challenges, restore growth, and reposition the economy for sustained inclusive growth.
The 12 Plans
1. Restore production to 2.2mbpd and reach 2.5mbpd by 2020
2. Privatize selected assets
3. Accelerate non-oil revenue generation,
4. Drastically cut costs
5. Align monetary, trade and fiscal policies
6. Expand infrastructure especially power, roads and rails
7. Revamp the four existing refineries
8. Improve ease of doing business
9. Expand social investment programmes
10. Deliver on agricultural transformation
11. Accelerate implementation of National Industrial Revolution Plan using special economic zones
12. Focus on priority sectors in order to generate jobs, promote exports, boost growth and upgrade skills