• About us
  • Contact us
  • Home
  • Privacy Policy
Wednesday, June 7, 2023
New Citizen
No Result
View All Result
  • Login
  • Home
  • Nation
  • Politics
  • Business & Economy
  • Health
  • Education
  • Sport
  • Arts & Life
  • Culture & Entertainment
  • World
  • Perspectives
  • About us
  • Home
  • Nation
  • Politics
  • Business & Economy
  • Health
  • Education
  • Sport
  • Arts & Life
  • Culture & Entertainment
  • World
  • Perspectives
  • About us
No Result
View All Result
New Citizen
No Result
View All Result
Home Business & Economy

Buhari inaugurates New National Development Plan

ISMAILA CHAFE by ISMAILA CHAFE
1 month ago
in Business & Economy
0
Muhammadu Buhari

Muhammadu Buhari

President Muhammadu Buhari on Wednesday in Abuja inaugurated a new long-term National Development Plan, the Nigeria Agenda 2050 (NA 2050).

The agenda aims to ensure that the country attains a Per Capita GDP of 33,328 dollars per annum, placing her among the top middle-income economies in the world by 2050.

READ ALSO

First Bank posts impressive earnings in Q1

AfDB approves $20m equity investment to boost infrastructure

The president inaugurated NA 2050 before the begining of the meeting of the Federal Executive Council at the Council Chamber.

He said the plan had the vision of a dynamic, industrialized and knowledge-based economy that generates inclusive and sustainable development for the country.

The president added that given the measures already in place for continuous plan implementation, successive Administrations would find the document useful in the delivery of electoral promises.

‘‘You will recall that in March, 2020, I approved the development of successor Plans to both Nigeria Vision 20:2020 and the Economic Recovery and Growth Plan (ERGP), 2017-2020. The Plans lapsed in December, 2020.

‘‘To give effect to this approval, I inaugurated the National Steering Committee in September, 2020 under the leadership of the Hon. Minister of Finance, Budget and National Planning and a Distinguished private sector operator, Mr. Atedo Peterside.

‘‘The Steering Committee is to superintend the preparation of the Nigeria Agenda 2050 and the National Development Plan (NDP), 2021-2025 to succeed the Nigeria Vision 20: 2020 and Economic Recovery and Growth Plan (ERGP), 2017-2020, respectively.

‘‘At the inauguration, I charged the Steering Committee to prepare inclusive Plans that would cover all shades of opinion and ensure even and balanced development, as well as put in place necessary legislations for continuous implementation of Plans even after the expiration of the tenure of successive Administrations.

‘‘This was achieved with the preparation of the Volume III of the NDP that deals with Legislative Imperatives for identified binding constraints to Plan implementation in Nigeria.

‘‘It is instructive to inform Council and indeed all Nigerians that I had on December 22, 2021 launched the first of the six number 5-year medium term plans, the National Development Plan (NDP), 2021-2025, that will be used to implement the Long-Term Plan.

‘‘Council also on March 15, 2023 approved the Nigeria Agenda 2050 that we are launching today,’’ he said.

He commended the National Steering Committee, led by the Minister of Finance, Budget and National Planning, Zainab Ahmed and the Minister of State, Budget and National Planning, Prince Clem Agba, for delivering yet again, on this important national assignment.

The president described the unveiling and public presentation of NA 2050 as another milestone in the ‘‘annals of history of our planning experience, post-independence.’’

He added that this feat has also shown the Administration’s commitment to planning and plan implementation since assumption of office on May 29, 2015.

On the process for the preparation of the Plan, the Minister of Finance stated that it was not only participatory and consultative but inclusive.

He said it also involved all critical stakeholders such as, all Federal Ministries, Departments and Agencies (MDAs), 36 states and the Federal Capital Territory as well as the representatives of Local Government Areas (LGAs).

She listed other stakeholders as the Organised Private Sector, youth organisations, labour unions, traditional and religious institutions, major political parties, women organisations, people with special needs, among others.

‘‘The Nigeria Agenda 2050 is formulated against the backdrop of subsisting economic and social challenges facing the country, including low, fragile and non-inclusive growth, insecurity, high population growth rate, limited concentric economic diversification and low productivity.

‘‘The Plan is a long-term economic transformation blueprint designed to address these challenges,’’ she said.

Ahmed further revealed that with the expected improved capital accumulation, investment as a ratio of GDP is expected to increase from the current 29.40 per cent to 40.11 per cent by 2050.

She explained that under the Plan, the bulk of the investment is expected to be financed by the private sector while total employment is expected to rise to 203.41 million in 2050 from 46.49 million in 2020.

‘‘This implies that unemployment will drop significantly to 6.3 per cent in 2050 from 33.3 per cent in 2020. The corollary is that the number of people in poverty will drop to 2.1 per cent by 2050 from 83 million in 2020,’’ she said. (NAN)

Share this:

  • Tweet
  • Print
  • Telegram
  • WhatsApp

Copyright © 2022 | New Citizen Nigeria

Related Posts

First Bank posts impressive earnings in Q1
Business & Economy

First Bank posts impressive earnings in Q1

June 4, 2023
Stakeholders converge for AfDB’s 2023 Annual Meetings
Business & Economy

AfDB approves $20m equity investment to boost infrastructure

June 2, 2023 - Updated on June 3, 2023
NCC holds stakeholders consultative forum for awareness in Bayalsa
Business & Economy

NCC holds stakeholders consultative forum for awareness in Bayalsa

June 2, 2023 - Updated on June 3, 2023
Access Bank launches French Desk to strengthen economic ties
Business & Economy

Access Bank launches French Desk to strengthen economic ties

June 1, 2023
Nigeria’s tax-to-GDP ratio rose from 6% to 10.86% in 2921 – FIRS
Business & Economy

Nigeria’s tax-to-GDP ratio rose from 6% to 10.86% in 2921 – FIRS

June 1, 2023
We have not devalued the naira – CBN
Business & Economy

We have not devalued the naira – CBN

June 1, 2023
Next Post

FCT REC bows out of service, attributes successes to God, teamwork

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

POPULAR NEWS

No Content Available

EDITOR'S PICK

Buhari unveils new NNPC Ltd, assures Nigerians of energy security

July 19, 2022

Naira crunch: Reps want an overhaul of banking online systems

March 23, 2023 - Updated on March 24, 2023

Nigeria has top-grade airspace managers – Pwajok

February 20, 2022
Uzairu Salisu

Police probe how suspect removed teenager’s eyeballs in Bauchi

June 24, 2022 - Updated on June 25, 2022

About

NEW CITIZEN is a Nigerian online newspaper that reports or comments on the burning issues of the moment. Based in Abuja, it is managed by some of the best hands in Nigerian journalism, bringing together decades of active journalism.

Follow us

Recent Posts

  • Army urges Finance Corps personnel on prudence, professionalism
  • IGP appoints SP Ihunwo as PPRO, Zone 13
  • Sit-at-Home: Era of non-state actors giving directives is gone in Enugu
  • EFCC to appeal Oronsaye’s acquittal

Trending

  • Ex-Kannywood actress Fati Ladan advises women on marriage
    Ex-Kannywood actress Fati Ladan advises women on marriage
  • Musa Bityong: A soldier's fate
    Musa Bityong: A soldier's fate
  • N2.5bn debt: CBN contests order to pay 110 disengaged ABU staff
    N2.5bn debt: CBN contests order to pay 110 disengaged ABU staff
  • Yar'fari: A review of A'aisha Abdulkareem's debut novel
    Yar'fari: A review of A'aisha Abdulkareem's debut novel
  • Buhari urges voters in Adamawa to make history by electing first female governor in Nigeria
    Buhari urges voters in Adamawa to make history by electing first female governor in Nigeria

Quick Links

  • Home
  • Contact Us
  • About us
  • Privacy Policy
  • Home
  • Contact Us
  • About us
  • Privacy Policy

Copyright © 2022 | New Citizen Nigeria.

No Result
View All Result
  • Home
  • Nation
  • Politics
  • Business & Economy
  • Health
  • Education
  • Sport
  • Arts & Life
  • Culture & Entertainment
  • World
  • Perspectives
  • About us

Copyright © 2022 | New Citizen Nigeria.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In