Nigeria has finally launched the long-awaited Economic Recovery and Growth Plan, a medium-term plan for 2017-2020, broadly targeting restoration of growth, human development and globally competitive economy.
This is in efforts to combat current economic crisis and achieve sustained diversification and inclusiveness.
The Ministry of Budget and National Planning recently released the ERGP document thus, providing a policy and reform framework.
Unavailability of the ERGP has been mentioned as impeding the country’s efforts to secure funds needed to address her economic challenges, including to fund the budget especially critical infrastructural objectives.
In January, Reuters reported how inability to submit recovery and reform plan stalled Nigeria’s bid for loan, quoting unnamed sources in global and Nigerian finance circle.
The Reuters report mentioned the African Development Bank, AfDB, President, Akinwunmi Adeshina, as saying the bank held back the last tranche of $1 billion loan for Nigeria.
In the disclosed plan, The vision of the ERGP is one of sustained inclusive growth that will move the nation forward.