Udoma: To get Nigeria out of recession, we need 2017 budget passed

Udoma Udoma, minister of budget and national planning, says the federal government is anxious to have the 2017 budget passed so as to begin the process of getting the economy out of recession.

Speaking with state house correspondents at the end of the federal executive council (FEC) meeting on Wednesday, Udoma said the 2017 budget will bring an end to Nigeria’s economic recession.

He expressed the government’s determination to get the country out of recession before the end of 2017.

“We are determined to get the economy out of the recession before the end of this year. And the 2017 budget is structured to do just that,” he said.

“So that is why we are anxious to get the budget passed so that we can begin the implementation and begin to take all the steps we need to get the economy out of recession.”

The minister said he briefed the council on the National Bureau of Statistics’ economic recovery growth plan.

“I also informed council of the release of the Economic Recovery Growth Plan which is already on the website of the ministry of budget and National Planning as well as the Budget Office,” he said.

Udoma added that the federal government was committed to making Nigeria’s “economy great again”.

“We are determined by the end of the plan to move from the negative growth that we experienced in 2016 to the growth rate of 7 per cent by 2020,” he said.