Nigeria’s Minister of State for Budget and National Planning, Prince Clem Agba, has disclosed that work has reached an advanced stage in completing Nigeria’s National Development Plans for 2021-2025.
The Minster disclosed this at the just concluded Nigerian Economic Summit #NES27, which was jointly organized by the Nigerian Economic Summit Group and the Federal Ministry of Finance, Budget and National Planning in Abuja, Nigeria’s capital.
Prince Agba explained that the Plan is to guide Government policies, programmes and projects as well as private sector operations from 2021 to 2025, while these would be inspired by the perspective plan, Nigeria Agenda 2050, which encapsulates the long-term vision for Nigeria.
He further said “the draft National Development Plan (NDP) 2021-2025 is part of the incentives in the Economic Sustainability Plan (ESP), and various policy measures to enhance the enabling environment and ensuring good governance/transparency.
The Minister restated the President Muhammadu Buhari-led Administration’s interest in attracting and supporting investment and partnerships in Nigeria, noting that “the government is creating an enabling macroeconomic environment by eliminating barriers and putting in place many incentives to attract investments.
Prince Agba highlighted some of the measures being taken to overcome the impact of COVID-19 pandemic on the nation’s economy:
“The measures and incentives put in place by this Government have ensured that both health and economic data have continued to be on the positive trajectory after the impact of COVID-19 pandemic.
“Similarly, inflation has continued to trend downward from 18.
17% in March 2021 down to 16.
63% in September 2021 for headline inflation.
“Food inflation has also continued to go down in the last six months after peaking in March 2021 at 22.
95% down to 19.
53% in September 2021.
“Preceding this decline, both headline and food inflation continuously rose for seventeen months from October 2019 to March 2021.
This year’s Summit which had as its theme, “Securing Our Future: The Fierce Urgency of Now,” provided a platform for both the public and private sectors as well as participants to interact and share thoughts on key issues and challenges facing the Nigerian economy, with a view to evolving a common strategy and framework for addressing them.
“Nigeria’s National Development Plans (2021-2025) at advanced stage”- Minister