Hmmmmm: Nigerian government has finally revealed when economic recession will end

The minister of Budget and National Planning, Senator Udo Udoma made the disclosure based on the ongoing implementation of the 2017-2020 Economic Recovery and Growth Plan (ERGP) that the country’s economy will come out of recession before the end of 2017.

Our source reports that the minister of Budget and National Planning, Sen. Udo Udoma disclosed this on Wednesday evening July 5 when he made a presentation to the APC National Working Committee (NWC) at the Party’s National Secretariat on the federal government’s 2017-2020 ERGP.

We gathered that though the meeting was held behind closed doors, spokesman of the party, Bolaji Abdullahi in a statement said based on the ongoing implementation of the 2017-2020 Economic Recovery and Growth Plan (ERGP) by the President Muhammadu Buhari-led administration, “the country’s economy will come out of recession in 2017”. 

The senenator further said the 2017-2020 ERGP and the 2017 National Budget is based on the manifesto of the All Progressives Congress (APC) and campaign promises made by President Muhammadu Buhari during the 2015 elections. Citing high insecurity, massive corruption, unemployment, poor infrastructure, import dependent economy and other structural weaknesses, the Minister stated that the President Buhari-led administration inherited an economy that was in a very bad shape, and APC promised to bring Change to Nigerians.

During the campaign, President Muhammadu Buhari promised to tackle the security challenges, fight corruption and fix the broken economy. Mr. President has remained irrevocably committed to delivering on these three promises”. He further said that the medium-term plan for 2017-2020 was developed through an extensive consultative process. It builds on previous plans, including sectoral plans and captures the key promises of the APC. “It (ERGP) contains bold actions required to tackle the current challenges and build a more resident economy. It is designed to get the economy out of recession unto a path of diversified, sustainable and inclusive growth. In terms ERGP implementation, the minister said much of the capital provision in the 2017 Budget is directed at projects that are aligned with the core execution priorities of the ERGP. He called on the Party’s hierarchy support to ensure delivery of the Plan’s objectives starting with the 2017 Budget. “Implementation of the 2017 Budget will be targeted at at achieving the objectives of the ERGP and delivering on the promises of the APC and of Mr. President.