PHOTOS: Buhari Meets With Members Of Organised Private Sector


President Muhammadu Buhari has met with members of the Organised Private Sector (OPS) at the Lagos Marina House.

At the meeting were the Vice President Yemi Osinbajo, Oyo governor, Abiola Ajimobi, Minister of Power, Babatunde Fashola, National Chairman of the All Progressives Congress (APC) Adams Oshiomhole.

The President after meeting with the business owners proceeded to the Oba’s Palace to pay homage.

President Buhari To Launch ERGP 2017-2020

Buhari Extends Return To NigeriaNigeria’s President, Muhammadu Buhari, will formally launch the Economic Recovery and Growth Plan (ERGP) 2017-2020 on Wednesday, April 5.

A statement issued on Tuesday by the President’s spokesman, Mr Femi Adesina, revealed that the ceremony will take place at the Council Chambers of the Presidential Villa in Abuja, the Federal Capital Territory.

The statement explained that the launch is “in furtherance of the current administration’s drive to sustain and build on the successes so far recorded in tackling corruption, improving security and revamping the economy.

“The Medium-Term ERGP, which had been approved by the Federal Executive Council (FEC), has amongst its broad strategic objectives: restoring sustainable, accelerated inclusive growth and development; investing in the people; and building a globally competitive economy”.

The ERGP, which unveils a road map for Nigeria’s economic recovery, growth and sustainable development, was made public on March 7, while President Buhari was on his medical vacation in the United Kingdom.

The Media Adviser to the Minister of Budget and National Planning, Akpandem James, had said the ceremonial presentation will take place when the President returns from his vacation.

FG Releases Economic Recovery Plan

FG Releases Economic Recovery Plan (ERGP)The Federal Government has released the Economic Recovery and Growth Plan (ERGP) which unveils a road map for Nigeria’s economic recovery, growth and sustainable development.

This was according to a statement issued on Tuesday by the Media Adviser to the Minister of Budget and National Planning, Akpandem James.

According to the statement, the development of the plan went through a rigorous process including wide consultation and robust engagements with stakeholders from a range of relevant fields.

They include: economic experts from the public and private sectors, academia, the Organised Private Sector, Civil Society groups, Organised Labour, sub-regional governments, International Development Partners (including the World Bank, International Monetary Fund and African Development Bank), the National Economic Council (NEC) and the National Assembly.

The statement hinted that the Plan has been approved by the Federal Executive Council, adding that its ceremonial presentation would take place when President Muhammadu Buhari returns from vacation.

Achieving Structural Economic Change

The statement read: “The core vision of the Plan is one of sustained inclusive growth. There is an urgent need as a nation to drive structural economic transformation with an emphasis on improving both public and private sector efficiency.

“The aim is to increase national productivity and achieve sustainable diversification of production, to significantly grow the economy and achieve maximum welfare for the citizens, beginning with food and energy security.

“The Plan envisages that by 2020, Nigeria would have made significant progress towards achieving structural economic change with a more diversified and inclusive economy. Overall, the Plan is expected to deliver on Five key broad outcomes namely: a stable macroeconomic environment, agricultural transformation and food security, sufficiency in energy (power and petroleum products), improved transportation infrastructure and industrialisation focusing on small and medium scale enterprises.

“Realising that the country’s economy would remain on a path of decline if nothing was immediately done to change the trajectory, the present administration, when it assumed office, embarked on strategic moves to halt the trend and redirect the course of the country’s economy and growth process.

A Knowledge-Based Economy

“The process started with the development of the Strategic Implementation Plan (SIP) for the 2016 Budget of Change as a short-term intervention. The ERGP, a Medium Term Plan for 2017 – 2020, builds on the SIP and has been developed for the purpose of restoring economic growth while leveraging the ingenuity and resilience of the Nigerian people.

“The Plan seeks to eliminate the bottlenecks that impede innovations and market based solutions, recognises the need to leverage Science, Technology and Innovation (STI) to build a knowledge-based economy, and is consistent with the aspirations of the UN’s Sustainable Development Goals (SDGs).

“The ERGP differs in several ways from previous strategies and plans as it:

  • is anchored on focused implementation which is at the core of the delivery strategy over the next four years;
  • outlines bold initiatives such as ramping up oil production to 2.5mbpd by 2020, privatising selected public enterprises/assets, and revamping local refineries to reduce petroleum product imports by 60 percent by 2018;
  • builds on existing sectoral plans such as the National Industrial Revolution Plan and the Nigeria Integrated Infrastructure Master-plan;
  • signals a changing relationship between the public and private sector based on close partnership.
  • utilises the value of the merger of budget and planning functions into one Ministry to create a better and stronger link between annual budgets and the ERGP; and
  • provides for strong coordination with the States to ensure that the Federal and sub-regional governments work towards the same goals.

Vision Of Inclusive Growth

“The thinking behind the development of the Plan was driven by several fundamental principles, including a focus on tackling constraints to growth; leveraging the power of the private sector and promoting national cohesion and social inclusion, as well as allowing markets to function.

“The Plan has three broad strategic objectives which are expected to help achieve the vision of inclusive growth: restoring growth, investing in the people, and building a globally competitive economy.

“The ERGP focuses on achieving macroeconomic stability and economic diversification by undertaking fiscal stimulus, ensuring monetary stability and improving the external balance of trade.

“The delivery mechanism has been identified as a major determining factor in the successful implementation of the Plan. The implementation strategy therefore focuses on prioritising the identified strategies, establishing a clear system of accountability for well-defined assignment of responsibilities, setting targets and developing detailed action plans, allocating resources to prioritised interventions, creating an enabling policy and regulatory environment, developing an effective monitoring and evaluation system to track progress, and using effective communication strategies”.

Buhari Vows To End Boko Haram Activities

BuhariNigeria’s President, Muhammadu Buhari, has reiterated that Boko Haram terrorism and their ideology, would soon be defeated and consigned to history, as security agents continue to pummel the insurgents in the north eastern part of the nation.

The President, who was represented by the Vice President, Professor Yemi Osinbajo, at the graduation of participants at the National Institute for Policy and Strategic Studies (NIPSS), called on persons or groups who have grievances or dissatisfaction, to pursue their cause through democratic means.

Sixty-three participants, drawn from every sector of the society, graduated at the Senior Executive Course 37 of the institute after 10 months of research work, including study tours and receiving numerous lectures from scholars and experts on variety of subjects.

The President assured Nigerians that the war against terrorism was non-negotiable, and that the nation needed to build the civic capacity to defeat false and dangerous premises and assumptions of violent extremism.

Commending the participants for a thorough research on the theme; ‘Repositioning Nigeria’s Educational System For Global Competitiveness’, the President observed that the education system in Nigeria was in a difficult situation that required adequate attention.

The Institute, since inception, has produced over one thousand top level policy and strategy experts that are making impact on national development from various sectors which include; the military, Police, academics, organised private sector, as well as other professional groups.

Amosun Urges Investors To Engage In Community Dev’t

ogun stateThe Governor of Ogun state, Ibikunle Amosun has urged investors to be more involved in community development as to move the state forward.

He made this known at a breakfast meeting in the state capital, Abeokuta with members of the Organised Private Sector who expressed their delight over the State’s efforts at securing lives and properties of residents.

For Governor Amosun, his administration’s achievements wouldn’t have been possible if investors don’t believe in the State’s potential.

Ogun state, with over 16,000 square kilometres of ideal topography for agriculture and forestry to thrive, also has a climate supports the growth of cash crops such as cocoa, coffee, cotton, cassava, cashew, oil- palm and rubber.

The State is famed for its Ofada rice, which is now a highly sought after variant both in Nigeria and internationally. It is named after Ofada town in Ogun State which is famous for its production.

Ogun State also has abundant fruits, vegetables and cereals as well as the largest producer of poultry in the nation.

In terms of natural resources, the State is equally blessed with commercially viable quantities of a range of minerals including Bitumen, Silica Sands, Laterite, Silicon, Feldspar and Clay.