The Federal Government says the implementation of its Economic Recovery and Growth Plan (ERGP) is entering a new phase.
This is coming from the Minister of Budget and National Planning, Senator Udo Udoma, as global commendations continue to trail the government’s economic plan.
He made the disclosure on Tuesday in his address at the 23rd Nigerian Economic Summit in Abuja, the Federal Capital Territory.
“We are ensuring that our annual budgets are aligned with the ERGP so that government spending is driven by the plan; it is very important that they must be driven by the plan,” Udoma said.
“In addition, we have set up a special implementation unit to ensure effective delivery of the plan and we’ve also engaged staff to drive that process.”
He also informed that the Federal Government would follow the Malaysian model by establishing a series of economic implementation micro-labs.
According to the minister, the labs would bring key state and non-state actors, including young Nigerians in parts of the country together to localise investments.
He said, “In the coming weeks, we will be running sector-focus Malaysian style labs. These labs are intended to bring all relevant stakeholders, whether in the public or private sectors together. We will assemble youths, we will come together into weeks of intensive working sessions to brainstorm on practical steps to overcoming any identified challenges in the selected area.”
“The central objective of these labs will be to bring in private capital to finance projects across the country and you will be hearing more about these labs because we will be inviting many of you to participate in these labs,” Udoma added.
