  We report results from a fast, efficient, and first-principles full-potential
N$^{th}$-order muffin-tin orbital (FP-NMTO) method combined with van
Leeuwen-Baerends correction to local density exchange-correlation potential. We
show that more complete and compact basis set is critical in improving the
electronic and structural properties. We exemplify the self-consistent FP-NMTO
calculations on group IV and III-V semiconductors. Notably, predicted bandgaps,
lattice constants, and bulk moduli are in good agreement with experiments
(e.g., we find for Ge $0.86~e$V, $5.57$~\AA, $75$~GPa vs. measured $0.74~e$V,
$5.66$~\AA, $77.2$~GPa). We also showcase its application to the electronic
properties of 2-dimensional $h-$BN and $h-$SiC, again finding good agreement
with experiments.
