The Nigerian economy will be significantly better in 2018 going by the consistent positive trend of key macroeconomic indicators since the country exited the recession in the second quarter of last year, the Minister of Budget and National Planning, Senator Udoma Udo Udoma, has said.
Udoma, who spoke at the 2018 Economic Outlook Forum of the Redeemed Christian Church of God (RCCG), Kings Court Parish, Lagos at the weekend, said the optimism is shared by most international and local rating agencies, who support the view that the Nigerian economy is poised to grow rapidly in 2018.
According to his Special Adviser (Media), Mr. Akpandem James, the minister indicated that the growth would create opportunities for investment in areas such as agriculture and agro-processing, industry, mining, construction and services.
He emphasised that in order to continue on the positive trajectory, it was important that the implementation of the Economic Recovery and Growth Plan (ERGP) is sustained, assuring that government was determined to lead in that effort.
Udoma appealed to the private sector to respond to the various initiatives which the government has been rolling out, adding that “there is no doubt that more work needs to be done and we all must work together to achieve sustainable results.”
The minister said the ERGP was designed to tackle constraints to growth, leverage the power of the private sector, promote national cohesion and social inclusion, allow markets to function and uphold our core values.
The broad objectives of the plan, he explained, include restoring and sustaining growth, building a competitive economy and investing in our people.