The federal government inaugurates what it termed Joint Working Group for the Economic Recovery and Growth Plan (ERGP) Focus Labs in the State House, Abuja to boost economic growth.
The establishment of the Focus Labs was conceived to create jobs and ensure Nigeria continues its journey of building a competitive economy.
Objectives of ERGP include: eradicating corruption in government procurement and processes, prudent management of resources, social inclusion, overcoming power constraints and dearth of skills, and promotion of private sector inclusion.
Apparently, the launch of ERGP, and its implementation has launched the country into significant economic strides, including its exit from recession last year and improved stability in the fiscal and monetary markets.
Nigeria jumped 24 places and was listed among the 10 most reforming economies globally, feats that have attracted wide applause and commendation for the economic policies of the Buhari administration.
In line with the administration’s economic focus and direction, which includes restoring growth and building a competitive economy, the ERGP Focus Labs are aimed at driving new investments that would create hundreds of thousands of jobs for Nigerians across the 36 states of the federation and, in the long-term, continue to grow the economy.
Also, a Central Steering Committee and Joint Working Group of the ERGP Focus Labs will be formed comprising nine ministers in Agriculture, Transport, Solid Minerals, Industry Trade and investment, Power Works and Housing, Petroleum Resources, Finance, Justice and of course Budget and National Planning.
Joint Working Group would comprise senior public officers from the six aforementioned pilot ministries, and their agencies with the mandate of working with the senior special assistants to the president on the implementation of ERGP to plan the labs successfully and address the inter-agency bottlenecks that the investors will bring to the labs.
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