The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, on Monday said that the draft Nigeria Agenda 2050 was being finalised and would be launched soon.
Ahmed, who gave this hint in her opening remarks at the 28th Nigerian Economic Summit (NES#28) in Abuja, said one of the primary commitments of the President Muhammadu-Buhari-led administration was to ensure that the economic framework for Nigeria’s development is in place.
The minister explained that the Plan aimed at increasing the country’s per capita GDP to US$33,000 by 2050 and place Nigeria amongst the rank of Upper Middle Income Countries.
Ahmed further pointed out that the Plan, which will be implemented by successive administrations through 5-Year Medium-Term National Development Plans and yearly budgets, would help in frontally tackling the poverty level and unemployment rate with the attendant positive implications for broad-based growth of the economy.
She clarified: “The Plan will be implemented by successive governments through 5-Year Medium-Term National Development Plans and Annual Budgets. The Nigeria Agenda 2050 has a moral imperative to lower the poverty and unemployment rate significantly as this is the only way we can ensure sustainable broad-based growth.
“Let me reiterate that the present administration has invested in and continues to invest in several initiatives to improve the quality of governance and the wellbeing of Nigerian citizens, improve infrastructure and reduce the harmful effects of corruption.
“The commitment of this administration to improving the standard of living of the populace and build an economy where growth translates to development remains unshaken”, the minister added.
Ahmed recalled the sundry economic development initiatives of the administration, including the collaboration with the organised private sector (OPS) to achieve sustainable growth of the nation’s economy.
According to her, some of the government’s efforts in ensuring the delivery of the successor plan to the ERGP, 2017-2020 is the National Development Plan (NDP), 2021-2025 which was developed and approved by the Federal Executive Council and subsequently launched by the President on December 22, 2021.
The minister also hinted that the Buhari-led administration was currently finalising the country’s Perspective Plan- Nigeria Agenda 2050 to replace Nigeria Vision 2020 which lapsed in December 2020 just as the implementation of the NDP is now in the second year of the with the private sector taking the lead.
According to her, although the administration is facing revenue challenges, it has kept its pact by prioritising capital releases in favour of critical on-going infrastructure projects in the power, roads, rail, agriculture, health and education sectors as a strategic step towards strengthening the Nigerian economy post Covid-19 pandemic.
To improve on the economic achievements of the government so far, Ahmed said that resources were being mobilised with less emphasis on oil revenues.
