Nigerian News from Leadership News

Sen. Udoma Calls For Team Work To Achieve Economic Recovery

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The minister of Budget and National Planning Sen. Udoma Udo Udoma has called on Ministries, Departments and Agencies to rise up to their feet as one in order to achieve the National Economic Recovery Plan.

According to a press release signed by the Ag. Director of information Mr. Bem Goong, the minister made this call in his office in Abuja when he received the Chief Executive of the Nigerian Investment Promotion Commission (NIPC), Ms Yewande Sadiku for a one day visit.

Senator Udoma said “the recovery task calls for maximum cooperation and understanding between Ministries, Departments and Agencies on one hand, and sustained synergy between the public and private sectors”.

He explained that the key elements of the recovery plan is hinged on the speedy development of critical infrastructure such as roads, rail and energy and as such  charged the NIPC as an important partner in the recovery plan to urgently mobilize the private sector to invest heavily in these areas, noting that, with a population of over 170 million people and vast natural resources, the Nigerian economy is a gold mine with promising returns on investment in practically all sectors of the country’s economy

He expressed optimism that the country will exit recession sooner than expected due to the over-subscription of the  country’s bond, the marginal drop in inflation rate and minimal stability being witnessed in the forex market in recent times as well as the raising profile of our foreign reserves which are clear indicators of the journey out of recession.

The Chief Executive Ms Yewande Sadiku told the Minister that the Commission is working assiduously to promote the required synergy between investors and critical stakeholders in various sectors of the Nigerian economy. She promised the commission will do its utmost to promote the ease of doing business within the area of its jurisdiction as part of its contribution to the recovery efforts.

 

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