The Federal Government has been charged to realise its full potential as a major player in the world economy, if it is determined to diversify sources of growth.
The Minister of Budget and National Planning, Senator Udoma Udoma, said this at a retreat organised by the Nigeria Institute of Social and Economic Research Strategy, in Abeokuta, Ogun State.
He said, despite exiting recession technically, a lot was still required by the government to realise the full promise of the Economic Recovery and Growth Plan, which would increase opportunities for all Nigerians.
According to him, government’s work is not complete until it has realised the country’s full potential as a major player in the world economy.
The minister, who assured Nigerians of government’s resilience to attaining seven per cent growth rate by 2020 from the negative trend in 2016, added that ERGP would propel the country to the path of strong, diversified, inclusive and sustained growth.
“Consequently, Nigeria will be firing on multiple engine of agriculture, manufacturing, solid mineral services and others, and not just a single engine of crude oil production,” he said.
The minister added, “No nation can truly attain great heights without well-grounded research findings that can guide policy makers in their decision making. The basis of any knowledge society is constant innovation and new discoveries, which can only come through sound research. There is close connection between utilisation of research outcomes and the pace of a nation’s socio-economic development.
“NISER was set up to be the premier, think-tank economic research institute for Nigeria. And NISER is expected to consistently generate credible knowledge through quality research, conduct specialised training and consultancy services, while interacting with relevant segments of the society in the task of national development. NISER therefore clearly
has an important role to play in the actualisation of the ERGP.”
