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Yemi Osinbajo Assures Nigeria Will Come Out Of Recession Stronger And Bigger

Yemi Osinbajo orders resumption of 24 hour operations at Apapa port

– Yemi Osinbajo clarified five key areas to achieve the objective of the ERGP

Acting President, Yemi Osinbajo, at the Presidential Policy Dialogue Session, organised by Lagos Chamber of Commerce and Industry (LCCI) in Lagos assured investors that the country would come out of economic recession stronger and bigger than before, with its Economic Recovery and Growth Plan (ERGP) policy on Thursday .

According to the acting president, the total objective of ERGP is to restore growth, invest in Nigerians and build competitive economy.

He clarified five key areas to achieve the objective of the ERGP

“This includes to stabilise macro-economic environment and achieve agriculture and food security.

“Ensure energy sufficiency in power and petroleum products, improve transportation infrastructure and drive industrialisation, especially by leveraging on Small and Medium Entrepreneurship (SME).

“Of course, we are setting up a Presidential Delivery Unit that will be tasked with integrating the economic recovery programme and ensure that the progress is measurable and the implementation is stead fast,” he said.

Osinbajo, represented the Honourable Minister of Industry, Trade and Investment, Dr Okechukwu Enelamah said the country is currently witnessing a challenged economy.

Look Naija gathered that the President of LCCI, in the person of Dr Nike Akande, said the chamber was delighted to observe that the short to medium term outlook for the Nigerian economy was much better than what it was this time last year..

Acommended the government’s responsive disposition which had led to some policy reviews.

“The foreign exchange policy has been reviewed to reduce the volatility in the foreign exchange (FOREX) market and minimise uncertainties.

“Investors’ confidence is on the upswing, liquidity in the FOREX market has increased, there is better clarity in the policy direction, FOREX inflows are beginning to pick up.

“We are also very confident that recent government initiatives on the ease of doing business would impact positively on the economy, “she said.

She commended the Federal Government for setting up the Presidential Ease of Doing Business Council (PEBEC) with Acting President as the Chairman.

 

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