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The Federal Executive Council (FEC) has approved the hiring of a consulting firm based in Malaysia with the aim of conducting a study that will aid the implementation of the present administration’s Economic Recovery and Growth Plan.

Minister of Budget and National Planning, Senator Udo Udoma, disclosed this to State House correspondents at the end of a meeting of the Council presided over by Vice-President Yemi Osinbajo in Abuja.

Udoma put the cost of the approved consultancy job at N458m.

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The minister explained that the duties of the consultant was to identify relevant stakeholders in private and public sectors for the implementation of ERGP, saying the study will be conducted on agriculture, transportation, power, gas and processing.

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According to the Udoma,  “the Federal Executive Council approved a memorandum that was brought by the Ministry of Budget and National Planning to retain some consultants to help us to conduct some pilot labs.

‘This is part of our implementation strategy for the economic recovery and growth plan and so we intend to conduct three labs. One in agriculture and transportation, one in power and gas and one in manufacturing and processing.

“The key objectives of the labs are as follows. One to identify all relevant key stakeholders from the public and private sector that are crucial in the delivery and implementation of the ERGP initiative so as to create ownership early on  in the development process.

“We will review and re-evaluate the ERGP and sectoral plans against set targets and progress and will include identifying gaps in the current eco system and the key success factors.

Senator Udoma explained that the consultancy is scheduled to cover about three months or  a minimum of 13 weeks.

 

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