Udoma Udo Udoma, Minister of Budget and National Planning, has said Nigeria initiated the Economic Recovery and Growth Plan (ERGP) to drive the desired development.
“The plan was developed after extensive consultations and has been generally accepted and commended by Nigerians.
“It has three key objectives of restoring growth from a negative trend in 2016 to seven percent by 2020.
“Also, investing in people by increasing social inclusion, creating jobs and improving the human capital base of the economy and building a globally competitive economy,” the minister said.
The minister unveiled the plan when he met with the Ambassador designate of Japan, Yukata Kikuta and UN Industrial Development Organisation (UNIDO), the Managing Director (Programme Development and Technical Cooperation Division), Phillippe Scholtes.
He told his guests in different meetings that Nigeria on Monday that he was disposed to working with local and foreign development partners to achieve the change agenda of the Buhari’s administration.
He acknowledged the cordial and beneficial working relationship among Nigeria, Japan and UNIDO over the years.
Udoma emphasised that there were opportunities to further enhance the relationship given the policy initiatives and disposition of the Federal Government.
Udoma said Nigerians were impressed with the transformation of the Japanese economy over the last 50 years.
According to him, this feat was achieved through a strong partnership between the Japanese government and the private sector.
He said the Nigerian government was also working on strengthening its partnership with the private sector.
“Nigeria is working with the private sector because of the recognition that increased private sector investment is critical to achieving the development targets set out in the ERGP,” Udoma said.
In his response, Kikuta pledged his readiness to enhance the existing cordial working relationship with the government of Nigeria.
The envoy assured of his country’s willingness to play a helpful role in the growth of Nigeria’s economy.
The minister noted during his meeting with UNIDO officials that the programmes of UNIDO were in alignment with the objectives of the ERGP.
He said the ERGP was developed to address Nigeria’s socio-economic challenges and laid the foundation for economic diversification, inclusive and sustainable growth.
Scholtes also assured that UNIDO would continue to support the Federal Government by working closely with the ministry and other relevant government agencies.