“It is not in any conventional economic reality for any nation to resort to selling off its assets during challenging times, as this exhibits leadership laxity and policy myopia,” he said.
Browsing: Sen Udoma Udo Udoma
Udoma further disclosed that “although these are below our national targets, the new forecast is 0.2 percentage point stronger in each year relative to the October WEO forecast and higher than the prospects for other sub-Sahara African countries.”
“The Nigerian government’s Economic Recovery and Growth Plan (ERGP) identifies investing in the people as one of three strategic objectives. But the execution priorities don’t fully reflect the people’s needs, prioritising physical capital over human capital,” Gates had said.
“We cannot rest until we achieve the ERGP’s vision of a new Nigeria. We cannot rest until we see a Nigeria that is transformed from a consuming nation to a producing nation, from an import dependent nation to an export oriented nation.”
Speaker of the House of Representatives, Hon. Yakubu Dogara, who read the letter at plenary on Thursday, noted that President Buhari requested to present the budget to a joint session of the National Assembly at 2pm on Tuesday.
The minister said the Council will liaise with the National Assembly to determine when the president will submit the draft estimates for the consideration of the two chambers.
The Minister of Budget and National Planning, Sen. Udoma Udo Udoma, who stated this in a keynote address at the second Kano Economic and Investment Summit on Tuesday, said the Federal Government had also planed to improve the power sector through the renewable energy sources.
He explained that government is funding agriculture, solid minerals and infrastructure development to return growth, invest in the people and build competitiveness of the economy. “We are determined by the end of the (economic) plan to move from the negative growth that we experienced in 2016 to a growth rate of seven per cent by 2020,” he said.
The 7 per cent target for gross domestic product growth is part of a medium-term economic recovery plan that seeks to address some of Nigeria’s issues, the budget ministry said in a statement.
“Implementation of the plan will be driven by strong political will and strong collaboration between the public and private sectors especially in the areas of Agriculture, Manufacturing, Solid Minerals, Services and Infrastructure.”
