These ways are included in the proposed Nigeria Economic Recovery and Growth Plan (NERGP), 2017 – 2020 development process which is currently undergoing final touches.
According to the minister of national planning, Akpandem James, the focus of the plan would be to address current economic challenges, restore growth and reposition the economy for sustained inclusive growth.
1. Restoration of oil production to 2.2 million barrels per day and a target of 2.5 million barrels per day by 2020.
2. Privatisation of selected asset.
3. Acceleration of non-oil revenue generation.
3. Acceleration of non-oil revenue generation.
4. Drastic cut in costs.
5. Alignment of monetary, trade and fiscal policies.
6. Expansion of infrastructure, especially power, roads and rail.
7. Revamping the four existing refineries.
8. Improving the ease of doing business.
8. Improving the ease of doing business.
9. Expanding social investment programmes.
10. Delivering on agriculture.
11. Accelerating implementation of National Industrial Revolution Plan using special economic zones as well as focusing on priority sectors to generate jobs, promote exports, boost growth and upgrade skills.
12. Key industrial and trade policy initiatives.
13. Export expansion grant to provide export policy orientation for foreign exchange earnings.
14. Diversification and global competitiveness and strengthening the presidential enabling business environment committee (PEBEC), to facilitate the improvement of the country’s business environment.
14. Diversification and global competitiveness and strengthening the presidential enabling business environment committee (PEBEC), to facilitate the improvement of the country’s business environment.
15. Leveraging ICT to improve global competitiveness of the country establishment of an ICT Ecosystem.
16. Expansion of broadband coverage.
17. Establishment of “Innovations and Experience” centres and ICT clusters.
18. Improved support to micro, small and medium enterprises to maximize their contribution to growth, employment and export earnings as well as promoting the policy of made-in-Nigeria goods.
These are aimed at improving the economic situation in the country in this recession.
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