Vice President Yemi Osinbajo has launched the “Focus Labs on Agriculture, Manufacturing and Power” designed to make the Nigerian economy more competitive by boosting job creation and investments. The focus labs which are a creation of the economic recovery and growth plan are to bring together the public and private sector participants as well as potential investors, in order to boost economic growth.
State House Correspondent Mariah Olasehinde reports that the event is the inauguration by Vice President Yemi Osinbajo, of the Core Working Teams for the Economic Recovery and Growth Plan, the Focus Labs.
With the President Muhammadu Buhari administration’s determination to push forward with the economic progress recorded so far, the Economic Recovery and Growth Plan- Focus Labs are to drive new investments that would
create jobs for Nigerians across the federation. This, in the long-term is expected to ensure continued growth of the economy.
For Vice President Yemi Osinbajo, these Labs cannot succeed without in-put of the Private Sector.
The Minister of Budget & National Planning Udoma Udo Udoma who presented the labs, said the Federal Government is starting with three specific Labs, namely: Agriculture and Transportation , Manufacturing and Processing, and Power and Gas Supply.
This is expected to provide the private sector the needed leverage to drive the economy towards attaining the targeted seven percent growth.
The Central Steering Committee is made up of the Ministers of Agriculture, Transport, Mines, Industry Trade and investment, Power, Works and Housing, Petroleum Resources, Finance, Justice as well as the Minister of Budget
and National Planning.