Economic Recovery and Growth Plan 2017-2020

A Plan outlines strategies to recover from the economic recession by diversifying beyond oil and investing in infrastructure and human capital. It targets federal and state government agencies, private sector investors, and Nigerian citizens. This aims to restore positive economic growth and build a competitive economy.

What Is This Policy?

Nigeria's medium-term economic plan developed in response to the 2016 economic recession, outlining strategies for restoring growth, diversifying the economy beyond oil, and investing in critical infrastructure and human capital.

Who Does It Target?

Federal and state government economic agencies Private sector investors and businesses International development partners Nigerian citizens and workforce

What Does It Aim to Achieve?

Restore positive economic growth, build a competitive economy, and create an enabling environment for business and investment by addressing structural bottlenecks in power, transport, agriculture, and industrialization.

Key Features

Macroeconomic Stability: Fiscal consolidation, revenue diversification, and exchange rate management Agriculture and Food Security: Increased investment in farming, agro-processing, and import substitution Energy and Infrastructure: Expansion of power generation capacity and rehabilitation of roads, rail, and ports Industrialization: Special economic zones, local content requirements, and manufacturing incentives Social Investment: Conditional cash transfers, school feeding, and youth employment programmes

Current Status

Rollout Stage: Completed (2017-2020) Coverage: Nationwide across all sectors Lead Agency: Ministry of Budget and National Planning (now Ministry of Finance, Budget and National Planning) Funding: Federal budget, private sector investment, and multilateral/bilateral loans

How to Access

The ERGP document is publicly available as a government publication. Download from the Ministry of Finance, Budget and National Planning website Access through the National Bureau of Statistics and Budget Office publications

Impact & Metrics

During the plan period, Nigeria exited recession in 2017 and GDP growth returned to positive territory, though growth rates remained below the plan's 7% target. The Social Investment Programme reached millions of beneficiaries through cash transfers and school feeding.

Official Resources

Website: nationalplanning.gov.ng Contact: Ministry of Finance, Budget and National Planning, Abuja

Legal Framework

The Economic Recovery and Growth Plan (ERGP) 2017–2020 was developed under the National Planning Commission Act and the Fiscal Responsibility Act 2007. It aligned with the Sustainable Development Goals, the African Union's Agenda 2063, and the Medium Term Expenditure Framework (MTEF) guidelines. The ERGP derived its implementing authority from the presidential mandate and served as the foundational framework for subsequent appropriation acts during 2017–2020.