Nigeria to launch economic recovery plan next month

Planning Minister, Udoma Udo Udoma.

The Nigerian  Government will next month launch the National Economic Reconstruction and Growth plan that would assist the federal government re-position the country to the path of sustainable growth.

The Minister of Budget and National Planning, Senator Udo Udoma, disclosed this on Thursday in Abuja while speaking at a National Economic Retreat.

The retreat according to him is intended to provide an opportunity for stakeholders from the various sectors of the economy to consult and exchange views on the medium term economic plan for Nigeria.

The minister said the economic recovery plan would be a detailed document that would bring together various plans that have been put together by the Economic Management Team.

The documents are the Strategic Implementation Plan from which the Medium Term Expenditure and Fiscal Strategy Paper was developed.

Udoma said as soon as the consultations with stakeholders in the private sector was concluded, the economic team would be getting inputs from the National Assembly as well as other development partners before the launch of the final document by the president in December.

He said, “The whole of the economic team has been working very hard since we released the SIP. 

“On the basis of the SIP we developed MTEF. We also developed MTSS for large spending ministries.

“Our intention now is to bring all these works together as part of a comprehensive medium term plan. As President Buhari had promised, this last stage will involve extensive consultations.

“It is one of a number of consultations we will have before we launch the plan. We shall hold consultations with the states, our development partners and National Assembly.

“This consultations will be concluded within the next one month because as promised by the president, this medium term plan would be launched before the end of this year.”