The Nigerian Government has again expressed its determination to ensure the country gets out of recession by the end of this year.
Budget and National Planning Minister, Udoma Udoma told journalists this much, at the end of this week’s Federal Executive Council meeting.
He also said a contract for the construction of the greater Abuja Water Supply project has been approved.
Nigeria’s economy further contracted in the fourth quarter of 2016 and its impact was greatly felt by it’s citizens.
Yet Nigeria’s economy managers believe that there is cause to smile as the outlook is not as gloomy as was projected by economy watchers, a sign that Nigeria is beginning to turn the corner in this recession it is faced with.
The Nigerian government is determined to put in more effort in agriculture and solid minerals, as well as in revamping infrastructure, in order to stimulate the economy.
Government is anxious to get the 2017 budget passed early and is pinning all hopes on the way the budget is structured to get the economy out of recession by the end of this year.
The approval of the contract for the construction of greater Abuja water supply project was also a major decision taken at the Federal Cabinet meeting this week.
The project approved at a total cost of 470 million US Dollars, is aimed at providing portable water to the greater part of the city, by upgrading the lower Osuma Dam and the Water treatment plant for the city which is one of the largest on the African continent.
Council also approved a contract of 186 million naira for the supply of one thousand tonnes of alum to serve the FCT water board.