Nigeria has launched focus labs to drive actualization of the Economic Recovery and Growth Plan, ERGP.
Budget and Planning Minister says the initiative will involve mapping out economic growth strategies for Nigeria.
The ERGP is Nigeria’s nation development plan aimed at economic development, investment and poverty alleviation among other areas.
The government admits the plan is ambitious but necessary considering prevailing economic conditions.
Focus labs are now being put in place to drive the plan’s achievement.
It entails private and public sector players coming together in one location to source ways of bringing about positive economic results for Nigeria.
Under the focus lab arrangement potential and existing investors from within and outside Nigeria will participate in closed door sessions with public institutions.
The sessions will center on investments in areas of agriculture and transportation, energy and manufacturing.
It is to allow the investors commit to investment decisions they deem fit.
The ERGP focus lab is fashioned after an existing Malaysian arrangement.
Nigeria is employing the services of Malaysian consultants to drive the process.