2017 economic summit focus ergp implementation

The 2017 Economic Summit focused on the implementation of the Economic Recovery Growth Plan (ERGP) in Nigeria. The ERGP is a three-year plan aimed at reviving the country's economy, which was facing significant challenges at the time, including a recession and high levels of unemployment.

The summit was attended by various stakeholders, including government officials, business leaders, and international experts. The main objective of the summit was to discuss the implementation of the ERGP and identify ways to overcome the challenges facing the economy.

Some of the key issues discussed at the summit included:

  1. Fiscal policy: The summit emphasized the need for a fiscal policy that is pro-growth and pro-poor. This includes increasing government spending on infrastructure, education, and healthcare, as well as reducing taxes to stimulate economic growth.
  2. Monetary policy: The summit highlighted the need for a monetary policy that is supportive of economic growth. This includes maintaining a low and stable interest rate, as well as increasing the money supply to stimulate economic activity.
  3. Structural reforms: The summit emphasized the need for structural reforms to improve the business environment and increase competitiveness. This includes reducing bureaucracy, improving the ease of doing business, and increasing investment in human capital.
  4. Infrastructure development: The summit highlighted the need for significant investment in infrastructure, including roads, bridges, and energy generation and distribution. This is critical for economic growth and development.
  5. Human capital development: The summit emphasized the need for investment in human capital, including education and healthcare. This is critical for increasing productivity and competitiveness.

The summit also identified some of the key challenges facing the implementation of the ERGP, including:

  1. Limited resources: The summit highlighted the need for increased funding to implement the ERGP. This includes increasing government revenue and reducing waste and corruption.
  2. Bureaucratic hurdles: The summit emphasized the need to reduce bureaucratic hurdles and improve the ease of doing business. This includes streamlining government processes and reducing the time it takes to obtain permits and licenses.
  3. Lack of coordination: The summit highlighted the need for better coordination between government agencies and stakeholders to implement the ERGP. This includes improving communication and collaboration to ensure that all stakeholders are working towards the same goals.

Overall, the 2017 Economic Summit was an important step towards implementing the ERGP and reviving Nigeria's economy. It provided a platform for stakeholders to discuss the challenges facing the economy and identify ways to overcome them.