Business
Economist Advises FG On ERGP Implementation

A former Deputy Governor of Central Bank of Nigeria (CBN), Dr Obadiah Mailafia has advised the Federal Government to hinge the implementation of the Economic Recovery and Growth Plan (ERGP) on three pillars. The three pillars are; micro economic stabilisation, human security, and governance and capacity building. Mailafia gave the advice in an interview with newsmen yesterday in Abuja. He, however, commended the Federal Government for coming up with EGRP and also expressed support for the key areas of priority in the plan. ERGP projected that Nigeria would make significant progress to achieve structural economic change with a more diversified and inclusive economy in five key areas by 2020. The key areas are stable macro-economic environment, agricultural transformation and food security, sufficiency in energy, improved transportation and infrastructure, as well as industrialisation and Small Medium Enterprise (SMEs). He stressed that the implementation of the plan should focus first on micro economic stabilisation. ”You need to stabilise the economy, you need to give the fundamentals right, you need to tame inflation and you need to stabilise the exchange rate. ”You need to create greater transparency and create conducive business environment.” The second pillar, he said should be on human security, adding that the crime rate was on the increase in the country. ” There is crime everywhere, if this continues, development will not happen. ”We need to be able to take control of this country from the hands of lawless bandits. Get crime off our rural sector because investors will not come if insecurity is not addressed. ”The third pillar is governance and capacity building. The government needs to strengthen the capacity of its workers to understand the issues and deliver on them.” He commended the Federal Government for the plan, and urged it to set up a delivery and monitoring unit to ensure implementation of the strategies outlined in the ERGP. Mailafia welcomed the proposal and drew reference to two successful examples in Britain and Rwanda. ”Tony Blair, the former Prime Minister of Britain employed a delivery expert, Michael Barber and he helped him to set the Prime minister’s Strategy and Delivery Unit which was successful. ”Also, Rwanda has done well in terms of policy implementation and delivery. We can learn lessons from these two countries. What are the lessons.’’ Mailafia said that the coordination ministry needed a strong leader in the delivery unit with a strong team that could work together to drive the implementation. The expert said it needed strong performance indicators and the indicators should be measurable. ”It needs back up at the highest level. The Presidency must support them, ministers must support them. ” They should report what works, report what does not work, speak truth to power, get the policy rolling and if there are any lapses, report those lapses. ”It should also engage with the relevant Ministries, Departments and Agencies (MDAs) to find practical solution, people who are not performing should be checked out,’’ he said.
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