The Federal Government says it requires 245.13 billion dollars to implement the Economic Recovery and Growth Plan, ERGP over its four-year period.
The Minister of Budget and National Planning, Udoma Udo Udoma, stated this during his presentation on ERGP Focus Labs at the inauguration of core teams by the Vice President, Yemi Osinbajo.
He said the cost of implementation will be divided in a ratio of 4:1 with the private sector contributing 195.98 billion dollars while government investment is expected to provide 49.15 billion dollars.
He also said that the plan, with five execution priorities and six priority sectors, is expected to create 15 million jobs with the aim of tackling constraints to growth, leveraging the power and private sector, allowing market to function and promoting national cohesion as well as social inclusion.
While inaugurating the groups, Vice President Osinbajo charged the stakeholders to work as a team focused on getting new investment commitments and assisting investors through the process. The labs are expected to be executed in three phases starting from March, to May.