Presidency Officially Launches ERGP as Vice President Reaffirms Commitment to Niger Delta

In the just concluded week, President Muhammadu Buhari formally launched the Economic Recovery and Growth Plan (ERGP) expected to span a period of four years, from 2017 to 2020. The ERGP documents the strategic initiatives designed to facilitate Nigeria’s exit from economic recession and place the country on the path of sustainable growth. The priority areas in the ERGP include Stabilizing the Macroeconomic Environment; Achievement of Agriculture and Food Security; Expansion of Energy Infrastructure capacities (power and petroleum); Improving Transportation Infrastructure and Driving industrialization principally through local and small business enterprises. President Buhari stated that his government was determined to turn Nigeria away from an import-dependent economy, while assuring the country that that the federal government was approaching the solution to the current economic challenges with the same will and commitment that it demonstrated in the fight against corruption, terrorism and militancy. The President called on the National Assembly, the business community and the civil society organisations to support the plan while also challenging the state governors to be inspired by the plan as to articulate economic programmes for their respective states. In a related development, Vice President Yemi Osinbajo reaffirmed the Federal Government’s plan to legalize informal refineries by allowing the establishment of modular refineries, which would serve to engage the unemployed and often restive youth, thereby facilitating restoration of peace in the oil-rich Niger Delta. The Vice President also insisted that such arrangement would be structured in a business-like and sustainable manner in order to enhance the socioeconomic benefit to Oil producing communities. We believe the Federal Government’s peace-making initiative in the region is a necessity for the successful implementation of the ERGP as it will help the country enhance the earnings needed to deliver on the objectives of the new economic plan.