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Sunday, 16 October 2016

[Watch] Budget Minister Udo Udoma Talks About FG’s Plans & Strategies for Economic Development



As Nigeria’s National Assembly prepares to deliberate on the 2017-2019 Medium Term Expenditure Framework & Fiscal Strategy Paper ahead of the 2017 budget,CNBC Africa‘s Onyi Sunday in an exclusive interview with Nigeria’s Minister for Budget & Planning discussed the current state of Nigeria’s economy, the MTEF strategy paper and the theme of the 2016 NESG summit, ‘Made in Nigeria’.


He said that this administration came in, focusing on diversification, by getting Nigerians to produce rather than depend solely on importation. He said that the administrations aims to get Nigerians to consume Made in Nigeria goods.

He also said that the Federal Government’s aim is to achieve self-sufficiency on rice by 2018, and self sufficiency on wheat by 2019, adding that the country has the potential to become the largest exporter of cassava in the world.

He talks about the government’s plan on ease of doing business and critical infrastructure such as roads, power, railway, e.t.c to make manufacturing easier.

He also said that the administration inherited the ’20-20-20′ economic development plan from the previous administration, which it is revising and working on.

He disclosed that ministries such as solid minerals, agriculture, water resources, development plans, 

adding that there is also an industrial development plan.
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