Nigeria mulls $4.7b investment in agric, transport

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About $4.7 billion investment has been identified in agriculture and transport focus with a potential to create about 129, 000 jobs under the Economic Recovery and Growth Plan (ERGP).

The plan was initiated about one and half year ago to propel Nigeria’s economy.

Sen. Udoma Udo Udoma, Minister of Budget and National Planning, whose ministry coordinates implementation of ERGP, revealed .

“Our aim is, simply put, to raise the level of productivity in Nigeria. We want more things to be grown in Nigeria.

We want more things to be made in Nigeria. We want more opportunities created for Nigerians to be able to work. That is what the focus labs are all about.”

In the statement from the ministry made available to Vanguard, Udoma said: “About 4.73 billion dollar worth of investment has been identified in the agriculture and transport focus labs with a potential to create about 129, 000 jobs.

“ Also, 9.25 billion dollar investment with potential of 378, 000 jobs was identified in the manufacturing and processing labs, while 8.57 billion dollar worth of investment will come from power and gas, with potential of crating up to 7, 000 jobs.”

Udoma further said the cumulative investment value of the projects that were identified at the focus labs were projected to rise up to about 39.12 billion dollar, with potential for 716, 079 jobs by 2025.