NIGERIA IS SET FOR ECONOMIC DEVELOPMENT- UDO UDOMA

By Godson Ikiebey-

The minister of budget and national planning, Udoma Udo Udoma, and his finance ministry counterpart, Zainab Ahmed, on Saturday, April 13, 2019 in Washington DC, assured foreign investors that with elections over, Nigeria is set for faster growth.

Udoma said this at A high level business meeting with US business community held under the auspices of the Corporate Council for Africa (CCA).

The minister told investors that Nigeria is on the path of diversified inclusive growth and that President Muhammadu Buhari in his second term is focused on consolidation and further expansion of the investor-friendly policies of the Economic Recovery and Growth Plan (ERGP).

CCA is at the forefront of strengthening and facilitating the commercial relationship between the United States and Africa.

Udoma assured investors that:

“Oil prices are stable and the convergence in foreign exchange windows has helped in reducing inflation and rebuilding external buffers. 2017 was better than 2016, just as 2018 was better than 2017, and 2019 will be even better”.

He stated that the Nigeria economy is projected to grow by 3.01 percent in 2019 with single digit inflation at 9.98 percent.

He went on to add that Nigeria is focused on economy diversification in partnership with the private sector, explaining that with the development of Special Economic Zones, the intention was to exploit comparative advantages of the six geo-political zones and the 36 states by establishing six Industrial Parks and 109 Special Production and Processing Centres.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: