April 14, 2024

Vice President Yemi Osinbajo on Tuesday inaugurated the Core Working Groups of the Economic Recovery and Growth Plan (ERGP) Focus Labs with a charge to stakeholders to work collaboratively as one entity focused on getting new investment commitments and assisting investors think through implementation.

While inaugurating the group in Abuja, the Vice President said the Working Group comprising senior public officers from the six pilot Ministries and their agencies, has the rare privilege of contributing to the national assignment by providing sector expertise and working with the ERGP Implementation Unit to successfully plan the three initial labs and address inter-agency bottlenecks investors might bring to the labs.

He was particularly excited that the ERGP focus labs is one of those targeted initiatives of the Muhammadu Buhari Administration that drives the three pillars of its medium-term plan – restoring growth, building a competitive economy and investing in our people.

The Vice President said he was also pleased that the implementation of the ERGP less than one year after its launching by the President has resulted in early wins, from the targeted exit from recession in Q2 last of 2017 to improved stability in the fiscal and monetary markets.

“As mentioned by the Honourable Minister of Budget and National Planning, most of our macro indices are trending upwards but a lot more needs to be done. And this administration will definitely not relent until we bring these headline improvements to visibly impact the majority of our citizenry”, he added.

Prof Osinbajo said as the intent of the focus labs are primarily to drive new investments that create  jobs for the people across the 36 states of the federation, all hands must be on deck to get the labs project right.

He explained that the Central Steering Committee comprising nine cabinet ministers in Agriculture, Transport, Solid Minerals; Industry Trade and investment; Power Works and Housing; Petroleum Resources, Finance, Justice and Budget and National Planning are tasked with steering the labs and ensuring active collaboration with the private sector to remove inhibitions that may have impeded some of the priority projects that they want to invest in, but which have remained on the drawing board for a long time.

While commending members of the ERGP Implementation Team and all those who have been working towards the labs, the Vice President reaffirmed the commitment of the President to the labs’ initiative and look forward to joining in the working sessions ahead of the commencement of the labs in March.

Giving a background of the labs concept, the Minister of Budget and National Planning, Senator Udoma Udo Udoma explained that though significant work has been done on the ERGP Implementation, and in the right direction, more work needs to be done to achieve targets.

Since it is not feasible to rely on the Government to fund required investments on its own due to its ongoing fiscal deficit, he said private investment is therefore key to catalysing growth. “We have therefore chosen to conduct Focus Labs in three selected areas to deliver quick and fast results on investments and job creation”.

The labs, he explained, are intended to achieve two main objectives, namely: new investments for critical projects and resolution of complex inter-agency problems that inhibit private sector investment.

He pointed out that the ERGP Focus Labs are not meant to replace existing sectoral roadmaps and plans, rather it is meant to identify entry projects to act as showcase to bring back investor confidence to Nigeria. The ERGP will focus on mobilising private investment projects to meet the USD 245 billion investments and 15 million job creation targets by 2020, he added.

For the specified sectors, the Minister explained that for Agriculture and Transportation, the lab will look to increase private sector investments in selected crops and products (agro-business) while investment along the transport corridors will target rail, roads and ports. For Manufacturing and Processing, the Lab will look to increase private sector investments in selected manufacturing subsectors and products as well as the processing of selected solid minerals in Nigeria; while in the Power and Gas sector, the Lab will look to increase private sector investments in the power sector i.e. electricity generation across its value chain and energy mix and the gas industries including expansion of domestic market.

Responding after the inauguration, the Minister of Trade Industry and Investment, Dr Okey Enelamah emphasized the need for commitment by all concerned to realize the objective of the project, pointing out that the challenge Nigeria often faces is not crafting good plans, but that id diligent implementation.

He also charged members of the groups to approach the assignment from the perspective of “the right thing, not the right person” as there will be no “high tables, but work tables”.

36 thoughts on “VP Osinbajo inaugurates ERGP Labs Working Groups, charge members on commitment

  1. I just want to mention I’m new to weblog and honestly enjoyed this blog site. Almost certainly I’m want to bookmark your website . You actually have beneficial articles and reviews. Cheers for sharing your web site.

  2. 970273 401037Very good day. Very cool weblog!! Man .. Outstanding .. Remarkable .. Ill bookmark your internet site and take the feeds additionallyI am glad to locate numerous helpful info proper here within the post. Thank you for sharing.. 330532

  3. Siteye üye olmak kayıt formunda royalcasino üyelik bilgilerinizi doldurmanız gerekir. Bu alanda kişisel bilgilerinizi girmelisiniz. Adınız, soyadınız ve doğum tarihiniz gibi çeşitli bilgileri doğru bilgilerle doldurarak diğer adıma geçebilirsiniz. Diğer adımda sizden kullanıcı adınızı ve şifrenizi belirlemeniz istenir. Bu alan üzerinden bilgilerinizi sağlıklı bir şekilde doldurarak diğer işleme geçebilirsiniz. Diğer işlemlerdeyse sizden iletişim bilgileriniz istenir. Bu alanı doğru doldurursanız siteyle alakalı önemli duyuruları ilk siz öğrenmiş olursunuz. Bunu yapabilmek için kendi iletişim bilgilerinizi doğru bilgilerle doldurmanız tavsiye edilir. Site içerisinde yer alan kampanyaları ve fırsatları bilerek buna göre hareket edebilirsiniz. Tüm işlemleri tamamladıktan sonra kuralları ve şartları kabul ederek siteye başarıyla üye olabilirsiniz. Royalcasino Yatırım Kampanyaları

  4. Royalcasino Şikayet Royalcasino bahis sitesinde ödeme konusunda herhangi bir sorun yaşanmaz. Site üzerinde yer alan tüm işlemler en iyi şekilde yerine getirilmesi için hazırlanmıştır. Bu nedenle siteyle alakalı şikayet bulunmuyor. Örnek olarak site içerisinde bulunan Royalcasino TV uygulaması sorunsuz bir şekilde çalışır. Aynı zamanda para çekme konusunda işlemler yalnızca birkaç

  5. 519175 927038There is an ending. Just remember that I meant for this to be an art game. I do feel like I spent an inordinate amount of time on the a lot more traditional gameplay elements, which might make the meaning of the game a bit unclear. In case you mess around with it though, youll discover it. 402288

  6. 802911 830968Magnificent beat ! I would like to apprentice whilst you amend your internet site, how could i subscribe for a weblog site? The account helped me a appropriate deal. I had been just a little bit acquainted of this your broadcast provided brilliant transparent idea 987400

  7. 626889 567033Aw, this was an exceptionally nice post. In concept I would like to place in writing such as this moreover – spending time and actual effort to create a superb article but so what can I say I procrastinate alot via no indicates discover a way to go completed. 818051

  8. 122920 626902Its a shame you dont have a donate button! Id without a doubt donate to this brilliant weblog! I suppose for now ill settle for book-marking and adding your RSS feed to my Google account. I appear forward to fresh updates and will share this weblog with my Facebook group. Chat soon! 210352

  9. 955390 744741I discovered your blog website on google and check a couple of of your early posts. Proceed to maintain up the excellent operate. I just extra up your RSS feed to my MSN News Reader. In search of ahead to studying extra from you in a whilst! 303042

  10. 543824 946333The luxury proposed may possibly be incomparable; citizens are never fail to seeking for bags is actually a Native goals. The idea numerous insert goals uniquely to push diversity with visibility during the travel and leisure arena. Hotels Discounts 58255

  11. 569127 309395Spot up for this write-up, I genuinely believe this internet internet site requirements a fantastic deal more consideration. Ill likely to finish up again to read a good deal much more, many thanks for that info. 274975

  12. 302369 39093So, is this just for males, just for women, or is it for both sexes If it s not, then do ladies need to have to do anything different to put on muscle 583100

  13. Illuderma is a serum designed to deeply nourish, clear, and hydrate the skin. The goal of this solution began with dark spots, which were previously thought to be a natural symptom of ageing. The creators of Illuderma were certain that blue modern radiation is the source of dark spots after conducting extensive research. https://illudermabuynow.us/

Leave a Reply

Your email address will not be published. Required fields are marked *