FG reveals plan to drag Nigeria out of recession

The Federal Government has released the economic recovery and growth plan (ERGP), which is aimed at dragging the country out of recession.

The document revealed that the plan will be applied between 2017 and 2020.

“The ERGP differs from previous plans in several ways. First, focused implementation is at the core of the delivery strategy of the plan over the next four years,” the document read.

“More than ever before, there is a strong political determination, commitment and will at the highest level. Whilst all the MDAs will have their different roles in implementing the plan, a delivery unit is being established in the presidency to drive the implementation of key ERGP priorities.

“The ministry of budget and national planning will coordinate plan-implementation and for this purpose will, amongst other things, build up its capability for robust monitoring and evaluation”, he said.

The FG also expressed hope to raise Nigeria’s oil production levels from 2.2 million barrels per day to 2.5 million barrels by 2020.