ERGP’s focus Labs designed to remove bottlenecks impeding investments—Buhari
More details have emerged Wednesday on why the federal government launched the Focus Labs for the nation’s Economic Recovery and Growth Plan (ERGP).
President Muhammadu Buhari had on Tuesday unveiled the scheme, saying it will among other things; remove the bottlenecks impeding investments in the country.
The policy modeled after the Malaysian focus lab according to the President is aimed at getting private and public sector investors to identify focused areas of investments.
Business Hilights Abuja Bureau chief spoke to one of the key members of the EGRP steering committee who revealed that the focus are gas and power supply, agriculture, transport, manufacturing and processing sectors.
The member who pleaded anonymity noted that “The Lab will within a functional period of three years, work on sectors that will generate $4 billion worth of investments and millions of jobs. He said “Each focus lab will be headed by the minister in each of the sector but made up of relevant stakeholders in government and private sector who would fast track the execution of the projects”.
The official further revealed that government has so far screened 240 projects for the ERGP under its focus laboratories, stressing that government was targeting to mobilise at least $25 billion or its naira equivalent in private investments through the labs.
