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FG Working Hard To Improve Tempo Of Economic Progress – Osinbajo



Vice President, Yemi Osinbajo has assured that the President Muhammadu Buhari led administration would not renege in its resolve at promoting good governance as an important enabler of economic development in Nigeria.

The VP gave the assurance while delivering his address at the 17th Joint Planning Board (JPB) and National Council on Development Planning (NCPD) which came to end on Thursday in Abeokuta, the Ogun state capital.

Represented by the Minister of Budget and National Planning, Senator Udoma Udo Udoma, Osinbajo said the Buhari led federal government has already laid a solid foundation for a more resilient and competitive economy in the country by providing the needed infrastructure and opened the space for private investment to accelerate growth and development through the Economic Recovery and Growth Plan (ERGP) initiative.

He said, “Let me say that as far as our economy is concerned, there is nothing more important to this administration today than ensuring that we do the best we can to deliver on the objectives and targets of the Economic Recovery and Growth Plan (ERGP).

“It is therefore important to state that the ERGP is different from other Plans introduced by previous Administrations because it contains clearly defined objectives, priorities, and targets. There is also the determination of the current administration to ensure sustained implementation of the Plan. As also indicated by the Honourable Minister,

Osinbajo noted that lessons from Nigeria’s strategic planning over the years, singled out weak implementation as the bane of previous economic plans.

“As a Government, we have chosen to do things differently by bringing in the needed political will at the highest level towards a sustained implementation of the ERGP.’’

Osinbajo maintained that significant reforms have been introduced by the present government to improve business climates which he said has pushed up Nigeria’s global ranking and turned the nation’s Gross Domestic Product (GDP) to a positive one.

In what however, appeared as a reaction to the assertion by the British Prime Minister, Theresa May that Nigeria harbours the largest population of the world’s poorest, Osinbajo declared that the Buhari – led administration has “lifted millions of Nigerians out of poverty”  within the past three years.

The VP explained that the “social investment initiatives” of the present federal government were the vehicles used to pull Nigerians in their millions out of the poverty trap.

“We will definitely not relent until the majority of the citizens feel the impact of our efforts. It is interesting to note that some states have already adopted a number of the initiatives being promoted in the Plan. This is highly commendable. I will therefore like to call on other states that have not done so to key into the implementation of this Plan. This is the only way we can together guarantee a better future”.

He assured that the government would continue to invest in Nigerians and give them a better life, saying “several billion of naira to tackle infrastructural deficiencies” while resources are being judiciously utilised and projects prioritized to ensure rapid transformation of the country.’’

Osinbajo also said that the federal government is committed to ensuring that it delivers on the objectives and targets of ERGP.

According to him, the administration through the ERGP has revitalised fertilizer blending plants which assisted Nigeria to save over 200 million dollar annually.

The VP however, assured that the federal government is focusing on agriculture, mining sector as well as redesigning the nation’s security architecture to meet with the current challenges.

“We are committed to ensuring that every single part of the nation is secure for everyone. Insecurity, in any form, is a serious threat to development. We need peace to grow and prosper. We equally need to grow to enjoy and sustain peace. As the economy grows and prosperity spreads, we believe violence and criminality will be less attractive to the youth,” he said.




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