New economic recovery plan targets 7% growth rate – Buhari

New economic recovery plan targets 7% growth rate – Buhari
April 05 15:25 2017

President Muhammadu Buhari has launched the country’s Economic Recovery and Growth Plan with the target of achieving seven percent growth rate by 2020.

The event took place at the State House Council Chambers before the commencement of the weekly Federal Executive Council meeting on Wednesday.

The President assured Nigerians that the country is now close to recovering from recession and is on the path of sustainable growth.

He said the Economic Recovery and Growth Plan brings together all sectoral plans for agriculture and food security, energy and transport infrastructure, industrialization 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 7% 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 productive economy,” he said.

Emphasising that the plan would create the enabling environment for business to thrive, the President urged state governments to domesticate it to boost the development of the real sector.

The event was attended by Vice President Yemi Osinbajo; President of the Senate, Dr Abubakar Bukola Saraki; Speaker of the House of Representatives, Mr. Yakubu Dogara; Governor of Zamfara state and chairman of the Nigeria Governors Forum (NGF), Mr. Abdulaziz Yari; National Chairman of the All Progressives Congress, Mr. John Odigie-Oyegun; and the Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele.