Post by Trade Coach on May 21, 2018 12:30:20 GMT 1
The National President of the Nigerian Association of Chambers of Commerce Industry, Mines and Agriculture (NACCIMA), Mrs. Iyalode Alaba Lawson, has said that the nation's economy is on the right path to recovery from recession.
Speaking on agriculture, the association commended the efforts of the Federal Ministry of Agriculture and Rural Development, and also counseled that the ministry consistently establish activities inherent in the Economic and Growth Plan (ERGP), with timelines and milestones to enable the private sector provide the much needed synergy and support for government policies.
Mrs. Lawson hopes that based on current leading economic indicators, the government can consistently implement and efficiently monitor its fiscal and monetary policies, medium and long term plans and strategies of the ERGP, so that the nation's economy can swiftly improve and totally drive away recession.
The Nigerian economy is still highly dependent on the oil sector, which contributes just about 10% to the nation's GDP but accounts for over 90% of exports and an estimated 80% of government revenue. The contributions from non-oil sectors (Agriculture, Industries and Services) form the remaining 90% of the GDP but their inputs to exports is just about 10% and to government revenue approximately 20%.
The NACCIMA President added that the (ERGP) is a commendable plan that lists 24 Programmes made up of 60 strategies and 369 key activities but proper implementation is needed.
"The ERGP just as many other government programmes, plans and strategies are laudable but the challenges are in aspects of proper implementation, monitoring, tracking, feedback and information dissemination."
Lawson called on all Ministries, Departments and Agencies (MDAs) of government in charge of the key activities and programmes in the ERGP to set out measurable guidelines of their key activities which can be tracked and assessed.
She commended the efforts of the Organised Private Sector who despite the challenging business environment, policies and infrastructural deficit have managed to stay afloat.
Speaking on agriculture, the association commended the efforts of the Federal Ministry of Agriculture and Rural Development, and also counseled that the ministry consistently establish activities inherent in the Economic and Growth Plan (ERGP), with timelines and milestones to enable the private sector provide the much needed synergy and support for government policies.
Mrs. Lawson hopes that based on current leading economic indicators, the government can consistently implement and efficiently monitor its fiscal and monetary policies, medium and long term plans and strategies of the ERGP, so that the nation's economy can swiftly improve and totally drive away recession.
The Nigerian economy is still highly dependent on the oil sector, which contributes just about 10% to the nation's GDP but accounts for over 90% of exports and an estimated 80% of government revenue. The contributions from non-oil sectors (Agriculture, Industries and Services) form the remaining 90% of the GDP but their inputs to exports is just about 10% and to government revenue approximately 20%.
The NACCIMA President added that the (ERGP) is a commendable plan that lists 24 Programmes made up of 60 strategies and 369 key activities but proper implementation is needed.
"The ERGP just as many other government programmes, plans and strategies are laudable but the challenges are in aspects of proper implementation, monitoring, tracking, feedback and information dissemination."
Lawson called on all Ministries, Departments and Agencies (MDAs) of government in charge of the key activities and programmes in the ERGP to set out measurable guidelines of their key activities which can be tracked and assessed.
She commended the efforts of the Organised Private Sector who despite the challenging business environment, policies and infrastructural deficit have managed to stay afloat.
