Recession – Federal Government plans to save the Nigerian economy with Agriculture (See how)

The Federal Government, yesterday, released its Economic Recovery and Growth Plan, ERGP, with a view to restore macro-economic stability and driving various sectors towards achieving the nation’s full economic potentials.

The document, released yesterday by the Minister of Budget and National Planning, Senator Udoma Udo Udoma, read:  “The Plan envisages that by 2020, Nigeria would have made significant progress towards achieving structural economic change with a more diversified and inclusive economy. “Overall, the Plan is expected to deliver on five key broad outcomes, namely: A stable macro-economic environment, agricultural transformation, and food security, sufficiency in energy (power and petroleum products), improved transportation infrastructure and industrialization, focusing on small and medium scale enterprise.”

In the agriculture sector, the federal government’s policy objectives are to: Increase agriculture GDP from N16.0 trillion in 2015 to N21.0 trillion in 2020 at an average annual growth rate of 6.92 per cent (2017-2020). The Federal Government also plans to “significantly reduce food imports and become a net exporter of key agricultural products, e.g., rice, tomatoes, vegetable oil, cashew nuts, groundnut, cassava, poultry, fish, livestock” and become self-sufficient in tomato paste (by 2017), rice (by 2018), and wheat (by 2019/2020).

Source: Vanguard