Mr Ayo Teriba, the CEO, Economic Associates, has advised the Federal Government to focus on only two items in the Economic Recovery and Growth Plan (ERGP) rather than all the projections on the list.
He said that achieving energy sufficiency and efficiency in transportation would propel other items in the plan in the right direction.
Teriba said that the plan contained too many measures aimed at recovery and that the major issues should be given the due attention.
“The measures in the plan are too many and I do not think that anyone can achieve all the items in that plan in four years.
“My worry is that because the list is busy, those two items will not get the required attention, but if we can deliver on those it will best help agriculture and all the other items on the list.
“Other things will fall in place if we can deliver on those two, particularly rail transport and energy.
“Since there are so many other items competing for attention within that plan, I am not sure those two items will get the attention they require’’, he said.
On whether the plan was sufficient to secure the International Monetary Fund loan being sought by the Federal Government, he said that the loan was not necessary.
Teriba said that rather emphasis should be placed on getting investors to readily invest in Nigeria.
“Nigeria can attract investment into energy and transport, into education and health if that is what we are pitching for.
“Rather than trying to do things to satisfy somebody who wants to give us loan, why don’t we do things to encourage investors to come and invest their money here?
“Investment is a more sustainable way of getting on than loans because if you get a loan this year, will you get a loan next year?
“If at all you get a loan this year, it becomes a burden for you next year, whereas you do not have to repay investors.’’
He, however, said that he was optimistic that the economy would recover by itself considering the stability in oil production and prices.
He said that the economy skidded into recession due low oil price and that since it has begun to pick up there was hope for recovery all by itself.
The Federal Government on Tuesday released the ERGP, which unveiled a road map for Nigeria’s economic recovery and sustainable development.
The plan is aimed at increasing national productivity and sustainable diversification of production base to significantly grow the economy and achieve maximum welfare for citizens beginning with food and energy security.
It also envisages that by 2020, Nigeria will have made significant progress towards achieving structural economic change with a more diversified and inclusive economy.
The plan is expected to deliver on five key broad outcomes, namely – stable macroeconomic environment, agricultural transformation and food security as well as sufficiency in energy.
Others are improved transportation infrastructure and industrialization with focus on small and medium scale enterprises.
The post Experts suggests emphasis on 2 items on ERGP appeared first on Vanguard News.
from Vanguard News http://ift.tt/2mPVzLx
via IFTTT
No comments:
Post a Comment