Implementation of Nigeria’s Economic Recovery and Growth Plan (ERGP) may be stalled if the 2017 budget is not passed on time, minister of budget and national planning, Udoma Udo Udoma hinted on Wednesday.
Briefing newsmen after the weekly Federal Executive Council the budget minister alongside the ministers of Information and Culture, Lai Mohammed and that of the Federal Capital Territory, Mohammed Bello, said the government is looking forward to the speedy passage of the 2017 budget, which is currently being debated by the national assembly, so that it can fast track the implementation of the ERGP.
Udoma who said he had briefed cabinet on the recently released National Bureau of Statistics Third Quarter GDP Report and the full report on 2016 as well as the release of the Economic recovery Growth Plan, noted that the
government is working hard to ensure it gets the country out of recession this year.
“We look forward to the early passage of the 2017 budget so that we can fast-track the implementation of the plan. As you know the plan fell into the 2017 budget. So many of the initiatives in the plan are reflected in the budget” the minister said.
Nigeria’s government on Tuesday released its ambitious economic growth and recovery plan with which it plans to bring the troubled economy out of recession- after postponing its release several times.
The growth plan which targets to restore the economy through sustained growth between 2017 to 2020, seeks to grossly reduce inflation rate from an all-time high of 19 percent to a single digit. It also targets to restore growth by ensuring the Gross Domestic Product (GDP) improves significantly to 2.19 percent in 2017, and 7 per cent at the
end of 2020 especially through agriculture.
The new plan also aims to boost the power situation in Nigeria with 10 GW of operational capacity by 2020 as well improve the energy mix, including through greater use of renewable energy. It also projects that the country will become a net exporter of refined petroleum products by 2020, amongst other things.
The FEC at its meeting approved the contract for the construction of greater Abuja water supply project at the total cost of 470 million USD. The project which is being funded by the China-Nexim bank is to provide water to what the FCT minister described as loops 1, 2, 5 and 6.
The overall master plan for the city has ten loops. Already Loops 3 and 4 are currently operational providing water to Garki, Maitama, Asokoro and Central Business District. With these new additional 4 loops, water is going to be extended to other very critical district of the city. And some of them are under loop 1: Mumkoro axis, Gwarimpa
1,8,2, Mbora, Karimo, Dape, Kafe, and Wumba. These as you know as areas of the city that have expanded tremendously over the last few years.
Loop 2 will provide water to Katampe, Mabuchi, Utako, Wuye, Dakibiun Jabi, Kado and Jahiye District while loop Number 5 will provide water to Durumi, Duste, Gadua, Luboyi and Kaura. Of the four loops under this particular contract, loop number 6 will provide water to Galadimawa, Dapuya, Logogoma, Wumba, Saraji, kabusa, Okanja, Paikasa, the minister explained adding “that the administration was focused on projects that would have the widest impact on the widest number of our population”.
Council also approved a contract in the sum of N186 million for the supply of 1000 tonnes of alum to serve the FCT water board.
Council also approved the extension of contract for the Wupa water treatment which would include its maintenance and above all training and retraining and additional training of competent staff. The Wupa project which was commissioned by former President Olusegun Obasanjo in 2007 is still being manned by Israelis, but the FCT minister said, “the segment of activities now will involve additional employment of Nigerian professionals as well as artisans and also nonskill labour”.
