Monday, May 15, 2017 5.00pm/Proshare WebTV
The Economic Recovery and Growth Plan recently launched by the Federal Government, needs a robust roll-out plan. This was the assertion of Mr Olufemi Awoyemi a notable Nigerian financial analyst and CEO of Proshare .
Mr Awoyemi was a guest at the Channels Television business program “Business Morning” Anchored by seasoned financial journalist Mr Boason Omofaye.
Awoyemi sharing his perspective on the plan, believed a strategic roll-out will enable the private sector to gain further insight into the ERGP, and explore the opportunities of investing in the Nigerian on its economy.
With the roll-out plan of the ERGP, the Proshare boss said private sector will be able to take key decisions on how they will position themselves to be part of the economic plan.
The financial market analyst advised the Federal Government to engage more with the private sector, who are playing a complementary role in developing the economy.
Giving a comparative he said the Saudi Arabia National Transformation Program(2017-2030), which is focused on diversifying the economy from oil had a robust plan for private sector participation.
The NTP which is part of the larger vision 2030 economic policy of the Kingdom of Saudi Arabia, has clear steps on the transformation of the various sectors of the economy.
He said three critical issues that were vital to the ERGP implementation include; fiscal policy adjustment, the outlined programmes and the key projects earmarked.
Speaking further he emphasized the need for a “Cost” to be placed on the plan, which will drive sustainability and bring clarity on the financing model and requirements to execute the plan.
From the economic angle, he urged the policy makers to assess the sterile effects of the plan on the economy, taking into consideration unemployment and productivity.
On the economy, Awoyemi lauded the government for stopping the bleeding and stressed that it was time for the rebuilding process to take place.