Minister of Budget and Planning, Sen. Udoma Udo Udoma, on Thursday said the country’s total exports appreciated by 59.9 per cent between 2016 and 2017 following the implementation of the Economic Recovery and Growth Plan (ERGP). Speaking at the FT Nigeria Summit sponsored by First Bank of Nigeria Plc and others in Lagos, Udoma said the non-oil sector accounted for the growth recorded. He said the agricultural sector export grew from N6.7 billion in 2016 to N170 billion in 2017, and that yam was among the products exported. Udoma said the solid minerals export also rose from N44 billion in 2016 to N102 billion in 2017. Speaking on the theme: “Delivering economic resilience,” he said the ERGP and other government policies had made great impact on the economy. Udoma said the country’s business climate had improved with the government focusing on creating an environment for private sector investment. “We have tackled those issues that made Nigeria not to be competitive in the past such as ease of getting visas and acquiring lands, among others,” he said. The minister said the growth of other indices like foreign reserves, inflation rate, Gross Domestic Product were encouraging and made the economy more resilient. “We have built up our foreign reserves, in June 2016 it was 26.51billion dollars but today it’s about 44 billion dollars,” the minister said. He said the growth in the country’s reserves was achieved with prudent management.
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