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Building Institutional Capacity Vital for Nigeria’s Economic Recovery, Says Udoma

Building Institutional Capacity Vital for Nigeria’s Economic Recovery, Says Udoma


Carol Oku

The Ministry of Budget and National Planning has stated that building institutional capacities is vital for Nigeria’s economic recovery, noting that the country is blessed with abundant human and natural resources, but managing these resources still remains a challenge.

The Minister of Budget and National Planning, Senator Udoma Udo Udoma, explained that Nigeria must begin to invest massively in developing capacity for management and human resources to achieve economic growth and stability.

Udoma during a recent working visit to the Centre for Management Development (CMD) in Lagos added that his ministry has been working to put together series of policies to take Nigeria out of its current economic woes, maintaining that the Economic Recovery and Growth Plan (ERGP) is one of the policies aimed at restoring Nigeria’s growth.

“We came in as a government determined to change Nigeria and also determined to change Nigeria from a nation of consumers to a nation of producers. We have been working to put together a series of policies to achieve this and this is what is entailed in the ERGP. This plan requires contribution from everybody to make it work and in particular, because the coordination is in the Ministry of Budget and National Planning, this is our product and we have to be at the forefront of driving it,” he said.

In his words, “We inherited an economy that was dependent on crude oil. We have moved the country back towards more production particularly in agriculture, because agriculture and food security is one of the key execution priorities. We also want to stabilise the macroeconomic framework and in other to achieve these objectives.”

He said CMD was well placed to help train Nigerians in management to take up positions in steering the country back on track, while also assuring the centre of the federal government’s support to enable it deliver on its mandate.

“CMD’s role is very important in achieving those changes. We know that you have some challenges and I have come to tell you that we are here to support you. You must focus on using this impressive facility optimally. We will give you the support and we will be expecting more from you. We need people who are going to champion the ERGP. We believe CMD can be a change agent for government,” he said.

Earlier, the Director General, CMD, Kabir Usman, commended the minister for his support towards the development of the centre, while assuring the ministry of its unwavering support to complement the federal government’s effort to put Nigeria back on track in terms of economic development.


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