President Muhammadu Buhari jas unveiled the new National Development Plan (NDP) which will span 2021-2025.
The NDP is expected to generate 21 million full-time jobs in five years and lift 35 million people out of poverty.
Buhari said the plan is also aimed at achieving a broad-based real Gross Domestic Product (GDP) growth rate of five per cent on average.
The President who spoke in Abuja during the formal launch and public presentation of the NDP 2021-2025, said the new scheme was crafted to succeed the Economic Recovery and Growth Plan (ERGP), 2017- 2020, which lapsed in December 2020.
He further said the launch would set the stage for achieving the government’s target of lifting 100 million Nigerians out of poverty in 10 years under the National Poverty Reduction with Growth Strategy (NPRGS).
A statement by the President’s Special Adviser on Media and Publicity, Femi Adesina, said the full implementation of the plan would require an expenditure quotient of about N348.1 trillion in investment to achieve the set target.
To achieve this, the President said out of the N348.1 trillion investment size, the government is expected to provide N49.7 trillion or 14.3 per cent, while the private sector would provide the balance of N298.3 trillion or 85.7 percent.
The statement reads in part: ‘‘This implies that successful implementation of the Plan will require a strong partnership between the public and private sectors.
‘‘In this regard, a Development Plan Implementation Unit headed by the Vice- President with the Minister of State, Budget and National Planning as the Vice-Chair, will be established in the Budget and National Planning arm of the Ministry to ensure overall coordination with the Ministries, Departments and Agencies; sub-national governments; Private sector operators and Civil Society Organisations.’’
