The National Poverty Reduction with Growth Strategy (NPRGS) has been approved by the Federal Executive Committee (FEC) according to the Special Adviser to President Muhammadu Buhari on Media and Publicity, Femi Adesina.
The strategy which was initiated by the Presidential Economic Advisory Council (PEAC) was approved for implementation on Wednesday.
Femi identified that the committee on NPRGS is chaired by Vice President, Yemi Osinbajo and will be incorporation into the Medium-Term National Development Plan 2021-2025 and the Agenda 2050.
The NPRGS is anchored on four pillars of macroeconomic stabilization, industrialization, structural policies and institutional reforms, redistributive policies, and programmes.
“Today the Federal Executive Council (FEC) under the Chairmanship of President approved the establishment of the NIGERIA INVESTMENT AND GROWTH FUND (“NIG-Fund”). It will be structured like a private equity fund & invest in commercially viable projects in priority sectors.
“The new NIGERIA INVESTMENT AND GROWTH FUND (“NIG-Fund”) will raise financing from DFIs, pension funds, insurance companies, SWFs, private sector investors, family offices, Nigerians in diaspora, endowments, etc. #NIGFund,” a statement on the presidential Twitter account read.
FEC also asked the attorney-general of the federation (AGF), Abubakar Malami to prepare a bill for submission to the national assembly to ensure the implementation of the strategy sustainable.
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