The Federal Government of Nigeriahas launched the National Development Plan (NDP) 2021-2025.
The Minister of Finance, Budget and National Planning, Hajiya Zainab Ahmed, presented the Plan to President Muhammadu Buhari on Wednesday at a brief ceremony before the start of the weekly virtual Federal Executive Council (FEC) meeting.
She said the NDP 2021-2025, which set the tone for Nigeria’s next economic destination, is a successor plan to both Economic Recovery and Growth Plan (ERGP 2017-2020) and the Vision 20:2020.
According to her, the Plan will focus investment on massive infrastructure, ensure economic stability, enhance the investment environment, improve on social indicators and living conditions of Nigerians, among other targets.
The minister, who said the plan is a pointer to the type of Nigeria that all Nigerians desire, added that it would encourage the use of science, technology and innovation to drive the growth being targeted.
“In order to have the future we all desire, the Plan is developed to play a sizeable role in the product complexity space internationally and adopts measures to ease constraints that have hindered the economy from attaining its potentials, particularly on the product mapping space.
“The plan provides for the implementation of major infrastructure and other development projects across the six geopolitical zones and opening up of opportunities for the rural areas to ensure balanced development and increased competitiveness.
“The plan builds on the foundation developed in the Vision 20:2020 and the Economic Recovery and Growth Plan (ERGP). Lessons from these previous plans guided the development of the NDP 2021-2025.
“The plan seeks to invest massively in infrastructure, ensure macroeconomic stability, enhance the investment environment, improve on social indicators and living conditions, tackle climate change mitigation, adaptation and resilience strategies, among others,” she said.
Meanwhile, the Nigeria Governors’ Forum (NGF) has commended the Muhammadu Buhari administration for the initiative that has created the series of economic development plans so far under its watch.
Chairman of the NGF, Dr Kayode Fayemi, who was represented by the Governor of Kebbi State, Alhaji Atiku Bagudu, said the new NDP 2021-2025 was a product of collaboration and consultation between the federal and state governments.
He said no administration in Nigeria’s history has been as inclusive as the current one.
He said: “We had an economic recovery growth plan that expired in 2020, which has achieved the objective of, among others, helping Nigeria exit twice from the recession and now we have a plan in place for 2021-2025 that is further aimed principally at ensuring that the gains have been consolidated and Nigerians are being continuously included.
“This government, more than any other, has taken deliberate, active steps to include all economic groups and support them more than has ever been done in order that they achieve their economic objectives, in order that the country’s economy continues to provide for all and we will witness more prosperity.”