Performance Review of the Economic Recovery and Growth Plan
The Economic Recovery and Growth Plan (ERGP) is a medium term planned for 2017 to 2020 developed to restore Nigeria’s economic growth while leveraging the resilience and ingenuity of the Nigerian citizens. This plan was a reaction to the negative growth recorded by the country in 2016, as the current administration recognizes that the country was likely to remain on a path of steady decline if nothing was done to change the negative trajectory.
It therefore followed that the ERGP rests on three broad objectives:
1. To restore growth through macroeconomic stability and economic diversification.
2. To build a globally competitive economy through investment in infrastructure, improvement in business environment and promotion of digital-led growth.
3. To invest in the Nigerian people through programmes on social inclusion, job creation, youth empowerment and improved human capital.
Restoring Growth through Macroeconomic Stability and Economic Diversification
A major objective of the ERGP is to ensure that there is macroeconomic stability and that growth is restored in the economy. As such, the ERGP targeted annual average real GDP growth rate of 4.62% between 2017 and 2020, as well as bring the inflation rate to a single digit of 9.9% by year end 2020.
Read full report here Performance Review of the Economic Recovery and Growth Plan