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Emerging recovery plan’ll rely on entrepreneurial nature of Nigerians to succeed—Udoma

The Minister of Budget and National Planning has disclosed that the highly expected economic recovery document of the federal government will harness the entrepreneurial nature of Nigerians from the MSMEs to the large domestic and multinational corporations.

Udoma further listed the principles of the plan to include: “Promoting national cohesion and social inclusion: the ultimate beneficiary of more inclusive growth is the average Nigerian man and woman.

According to him, “Allowing markets to function: we recognise the power of markets to drive optimal behaviour among market participants. The plan prioritises the use of markets as a means of resource allocation where possible and supporting a more business friendly economic environment.

“Upholding core values: the economic recovery and growth plan is rooted in the core values that define the Nigerian society and are enshrined in the 1999 Constitution, notably discipline, integrity, dignity of labour, social justice, religious tolerance, self-reliance and patriotism.”

According to him, the goal is to have an economy with low inflation, a stable exchange rate, and diversified and inclusive growth.

He listed the immediate priorities of the recovery plan as agriculture and food security, energy (power and petroleum), small businesses and industrialisation, and stabilising the macroeconomic environment.

Udoma further assured that the plan is coming with the needed political will for easy success.