From Basil Obasi, Abuja
The Federal Government has voted a whooping N50 billion towards the development of Special Economic Zones in the 2017 budget.
Minister of Budget and National Planning, Senator Udoma Udo Udoma, who disclosed this during the 2nd Presidential Quarterly Business Forum for Private Sector Stakeholders, in Abuja, explained that the Federal Government has given pride of place to strong partnership required between public and private sector as crucial to revamping the nation’s ailing economy.
The minister reiterated that the private sector-driven policy initiative of the 2017 budget include emphasis on resuscitation of the Export Expansion Grant, improvement of the country’s business environment as well as enhancing support to Micro, Small and Medium Enterprises in order to Laying the foundation for diversified, inclusive and sustainable growth.
Udoma further clarified that the Medium Term Economic Recovery and Growth Plan (ERGP 2017 – 2020) is being finalised to address current economic challenges, restore growth, and reposition the economy for sustained inclusive growth, adding that government is working hard to turn the current crisis into opportunity to restructure, reset, reposition and diversify the economy for sustained economic growth.