Buhari’s economic policies’ve yielded good fruits - Udoma

The Minister of Budget and Planning, Sen. Udoma Udo Udoma, has insisted that the current administration is delivering on its three key campaign promises: to fix the economy, fight corruption and combat insecurity in the North East, even as he disclosed that the administration’s strategic economic plan, the Economic Recovery and Growth Plan (ERGP), is a product of wide consultation among a cross section of Nigerians.

Sen. Udoma said the aim of ERGP was to reroute Nigeria; being import-dependent, to one that produced most of what it consumed as a way to reduce the nation’s import receipts, conserve foreign exchange and boost its external reserve.

Udoma spoke as the keynote speaker at the annual conference of the Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN) which rounded off in Lagos.

He said, “President Buhari had promised to do three things: fight corruption, restore security and fix the economy. We were, therefore, determined to halt the economic decline. We accomplished this, first, by introducing an expansionary fiscal budget in 2016 to reflate the economy and stimulate economic activity. This expansionary budget was accompanied by the Strategic Implementation Plan (SIP). The SIP consisted of a series of short-term measures aimed at boosting economic activities so as to restore confidence. We followed this up, after extensive consultation with all segments of society, with the launching by the president of ERGP in 2017, to elapse 2020.