President Muhammadu Buhari has announced plans to swap the elapsed Vision 2020 with ‘Nigeria Agenda 2050’ which is currently being finalized.
Buhari disclosed this through the Minister of Finance, Budget and National Planning, Zainab Ahmed on Monday in Abuja at the 28th Nigerian Economic Summit.
She noted that the government had developed the National Development Plan 2021- 2025 to succeed the Economic Recovery and Growth Plan 2017- 2020.
Ahmed revealed that resources were being mobilised with less priority given to oil revenues.
She said, “We are in the second year of the NDP 2021-2025 with the private sector taking the lead.
“Although, challenged by a shortfall in revenues, the government has kept its pact by prioritising capital releases in favour of ongoing critical infrastructural projects in power, roads, rail, agriculture, health and education sectors.
“This is with a view to strengthen the Nigerian economy post-COVID-199 pandemic,” Ahmed said.
On financing of the NDP 2021-2025, she said they would rely heavily on domestic resource mobilisation from non-oil revenue sources through the results of the Strategic Revenue Growth Initiative and Finance Acts.
“This will improve and further diversify government revenues and entrench fiscal prudence and value for money,” she said.
The Minister added that the Nigeria Agenda 2050, which would be inaugurated soon, seeks to increase the country’s per capita Gross Domestic Product to $33,000.
Ahmed commended the President, Major General Muhammadu Buhari (retd.), for his continuous support to the NESG in the last seven years.