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FG Targets $22.5billion Investments From ERGP Focus Labs - VP Osinbajo

The Federal government has identified that the Focus Labs for its Economic Recovery and Growth plan (ERGP) will bring in total investments worth $22.5 billion and prospects for creating over 513 thousand jobs by 2020. Vice President, Prof Yemi Osinbajo, speaking at an open day event of the ERGP Lab in Abuja Tuesday, said the project has achieved the objective of creating channels for sustained and diversified economic growth adding that the lab will be followed through to ensure sustainability and complete implementation of plans.

 

Minister of Budget and National Planning, Sen. Udoma Udo Udoma,  said that the focus lab which involved close collaboration between Agencies, private sectors and civil societies has over the period helped to translate the high levels plans into detailed operational activities with specific deliverables and timelines. He said that the initial set of the lab is aimed at unlocking the private investments commitment in the agriculture and Transport, Manufacturing and Processing as well as Power and Gas sectors and create more jobs for Nigerians.

 

Our Correspondent, Raliat Adenekan reports that President Muhammadu Buhari, in March, launched the Focus Labs as part of the strategies being put in place to ensure implementation of the ERGP as successfully used in other countries to boost their economies. The government identified 59 projects and initiatives for execution under the Growth Plan.

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