Tag president buharis economic plan

President Muhammadu Buhari's economic plan, also known as the "Economic Recovery and Growth Plan" (ERGP), was launched in 2017 with the goal of reviving the Nigerian economy and achieving sustainable growth. The plan has several key components, including:

1. Macroeconomic Stability: The ERGP aims to achieve macroeconomic stability by reducing inflation, improving the balance of payments, and increasing foreign exchange reserves.
2. Infrastructure Development: The plan prioritizes the development of critical infrastructure, including roads, railways, airports, seaports, and power generation and distribution.
3. Industrialization: The ERGP aims to promote industrialization by providing incentives for local manufacturing, improving the business environment, and increasing access to finance for small and medium-sized enterprises (SMEs).
4. Agricultural Development: The plan seeks to increase agricultural productivity and production by providing support to farmers, improving agricultural infrastructure, and increasing access to finance and markets.
5. Social Protection: The ERGP includes measures to improve social protection, including the expansion of social safety nets, healthcare, and education.
6. Human Capital Development: The plan aims to improve human capital development by increasing access to quality education, healthcare, and skills training.
7. Private Sector Development: The ERGP seeks to promote private sector development by improving the business environment, increasing access to finance, and providing incentives for investment.
8. Public-Private Partnerships: The plan encourages public-private partnerships to leverage private sector expertise and resources to deliver public goods and services.
9. Fiscal Discipline: The ERGP emphasizes the importance of fiscal discipline, including reducing government spending, increasing revenue, and improving the management of public finances.
10. Anti-Corruption: The plan includes measures to combat corruption, including the establishment of an independent corruption and financial crimes commission.

Some of the specific targets and initiatives under the ERGP include:

• Increasing GDP growth rate to 4.5% by 2020
• Reducing inflation to single digits by 2020
• Increasing foreign exchange reserves to $40 billion by 2020
• Increasing power generation to 10,000 MW by 2020
• Increasing agricultural production by 20% by 2020
• Increasing access to finance for SMEs by 50% by 2020
• Increasing the number of people with access to social safety nets by 50% by 2020

Overall, the ERGP aims to create a more diversified and resilient economy, improve the standard of living for Nigerians, and increase the country's global competitiveness.