Wednesday 5 April 2017

We Are Committed To Resolving Nigeria’s Economic Challenges, By Muhammadu Buhari

This address was given at the launch of Nigeria’s Economic Recovery and Growth Plan (ERGP, 2017 – 2020) at the Council Chambers, State House, Abuja today, Wednesday, April 5, 2017. By Muhammadu Buhari (GCFR)  president of Federal Republic of Nigeria.

We Are Committed To Resolving Nigeria’s Economic Challenges, By Muhammadu Buhari

As we all know, this Administration inherited numerous challenges. Our political campaign was based on a recognition of the difficult situation Nigeria was in and the need to bring positive and enduring change. And we remain committed to our electoral promise to change our way of doing things and to change Nigeria for good.

We are committed to delivering on the three key areas that we promised – improving security, tackling corruption and revitalising the economy. Security in the North-East, and other parts of Nigeria, is significantly better today than when we came in. With regards to our fight against corruption, as you all know, our law enforcement agencies are prosecuting very many cases of corruption. Our successes in these two areas are clear for all to see.

I want to assure all Nigerians that we are approaching the solution to our economic challenges with the same will and commitment we have demonstrated in the fight against corruption and in the fight against terrorism and militancy.

The Economic Recovery and Growth Plan brings together all our sectoral plans for agriculture and food security, energy and transport infrastructure, industrialisation and social investments together in a single document. It builds on the Strategic Implementation Plan and sets out an ambitious roadmap to return the economy to growth; and to achieve a seven percent growth rate by 2020.

Our aim, simply put, is to optimise local content and empower local businesses. We seek not just to take the Nigerian economy out of recession but to place it on a path of sustained, inclusive and diversified growth. We are determined to change Nigeria from an import dependent country to a producing nation. We must become a nation where we grow what we eat and consume what we produce. We must strive to have a strong naira and a productive economy.

The Plan I am launching today therefore sets out what we, as government, are committed to do to create the enabling environment for business to thrive. The Plan is a national one, hence the role of state governments is critical to its success. I therefore wish to appeal to the state governments to draw inspiration and strategic direction from the Plan to articulate their economic programmes, particularly in the development of the real sector.

I call on all Nigerians to work with us to ensure we achieve these objectives. The contents of the Plan are already familiar to a broad cross-section of Nigerians because it was developed in consultation with a wide group of stakeholders, including the National Assembly, state governments, the business community, labour unions, academia, civil society groups and development partners.

Finally, I wish to commend the Ministry of Budget and National Planning for successfully coordinating the Plan’s development. I also wish to salute the efforts of the Economic Management Team under the leadership of the vice president for overseeing the drafting of the Plan.

I am pleased to present this Economic Recovery and Growth Plan for use by the Nigerian people, our friends and partners and to guide our development efforts over the next four years.


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