Economy

ERGP: experts demand specific strategies to solve real sector challenges

by HARRISON EDEH, Abuja

October 24, 2017 | 12:43 pm
  |     |     |   Start Conversation
The Federal Government has been urged to apply industry specific strategies to address concerns of real sector operators, while also opening the economy to attract more private capital.
Also, experts want the Federal Government to ensure‎ proper cross breed of public and private sector experts, as it constitutes ‘special laboratory’ for the effective implementation of the ERGP.
“My suggestion is to have more private sector people in the room, give them mandate and deadlines and set up a monitoring group to do a lot of monitoring and advise. This will ensure brainstorming and application of industry specific strategies, and you have different industry experts proffering solutions to the aches of their different industries,” Franklyn Akinyosoye, president, Association of Business Development Professionals in Nigeria, told BusinessDay.
According to Akinyosoye, “The government must consult wide, talk to industry gurus, break all the sections of the ERGP into minute subsections, and come up with an expert on each and even consultant to work with each group or section. The expert must have thorough understanding of the ERGP.
“The special laboratory is a laudable initiative, but selecting the panellists, pushing the suggestions or pathways will be a problem; for most often, its one thing for the government to have a plan, it is another for them to implement the plan. There exigencies in the political arenas, budgetary allocations, fiscal policies and even monetary policies that will affect implementation of the economic recovery plan.”
Franklyn, who is also an economic expert, said the government had been intervening more with the real sector rather than work or plan with them.
He pointed out, “There is no where in the world where fire brigade approach has really solved anything may be for the short term not long. Government does fire-brigade approach with real sector. Our government don’t have long term plan for the real sector.‎If they do, it is always truncated at every change of government.
“What has helped the financial sector has been the‎ semi-autonomy of the CBN and seemingly stable status they have to control the financial sector from time to time irrespective of the government in place. But the real sector doesn’t have such strong or institutionalised agency.”
The fiscal sector, he said, is controlled 100 percent by the government, as he remarked that the sector is experiencing galloping implementation every time there is a change of government.
‎While making further suggestions on how sub-nationals could key into the implementation of the ERGP, he said, “Make them see reasons to, make them stakeholders, make them belong, run an all inclusive government, distribute the capital projects adequately, and let the sub-national government discuss the ERGP and get buy in.”
Also, Celestine Okeke,‎ a lead partner at Micro-Small and Medium Enterprise Development, a Nigerian SME support group, said there was no yet an implementation plan for the programme, as he raised concern that the plan might go the way of other government policies.
“The ERGP is not about re-inventing the will. We must also scale up implementation of the Nigerian industrial revolution plan. The government said it would achieve 20 million jobs with the implementation of the ERGP, but I know it is one of those talks we have heard over and over from the government,” he said.
Recall, the minister of national planning, Udoma Udo Udoma, said at the just concluded 23rd Nigeria Economic Summit that “the Nigerian government targets 7% growth of the GDP through effective implementation of the ERGP.” However, industry watchers are expressing concern about government’s plan on the implementation, as it reveals there are no proper implementation plans to speed up ERGP implementation, he said.
Tags: ,

by HARRISON EDEH, Abuja

October 24, 2017 | 12:43 pm
12893  |   93   |   0  |   Start Conversation

Big Read |  

Analysis

Making the case for sustainability

The debate about the role of business in society has been ongoing since the 1960s. Over the years,literature and research...