ERGP focus labs achieve 80% success- FG

The Federal Government has expressed satisfaction with the organisation of the Economic Recovery and Growth Plan focus labs and the commitment of its participants towards achieving the overall goal of the exercise.

It also says the ERGP focus labs have achieved about 80% success in the three weeks since their inauguration.

Vice President Yemi Osinbajo said at the Economic Recovery and Growth Plan MidLab Syndication meeting in Abuja yesterday, that the labs would be targeting an initial $25bn investments from the private sector, a statement by the special adviser on media to the minister of Budget and National Planning, Akpandem James, said.

Speaking after the gallery walk in the three labs’ setting, Osinbajo commended the level of commitment, enthusiasm and interest shown by participants in accepting to lock themselves up for six weeks all in a bid to fast track the growth and development of the country.

He said though regulatory processes are necessary in order to protect institutions and streamline activities, government appreciates the fact that it is necessary to limit bureaucratic bottlenecks so that they do not get in the way of progress; which was why government decided to embark on the labs to address any challenges that stand in the way of investments.

The minister of Budget and National Planning, Sen. Udoma Udo Udoma, said data from the three labs showed that the country was on course to meet its $25bn investment commitment.