The Nigerian government said it is working on implementing the Vision 2050 report soon as a replacement for the Vision 2020 agenda, which expired two years ago.
This was revealed by Finance Minister Zainab Ahmed at the 28th Nigerian Economic Summit (NES) on Monday in Abuja.
Ahmed noted that Nigeria’s Agenda 2050 seeks to increase the country’s Gross Domestic Product (GDP) per capita to $33,000, adding that the FG is finalizing “Nigeria’s 2050 Agenda” to succeed Vision 2020 “after founding the National Development Plan (NDP).
He also noted that Nigeria is currently in the second year of its National Development Plan (NDP), 2021-2025, which replaced the Economic Recovery and Growth Plan (ERGP), 2017-2020.
- “We are in the second year of the PND, 2021-2025 with the private sector in the lead. Although challenged by a shortfall in revenue, the government has upheld its pact by prioritizing capital releases in favor of ongoing critical infrastructure projects in the energy, road, rail, agriculture, health and education sectors. she said.
The priority of the FG: He explained that FG chose to prioritize roads, rail, agriculture, health and education to strengthen the Nigerian economy after the COVID-19 pandemic. He added that resources were being mobilized with less emphasis on oil revenues.
Ahmed also noted that the funding of the 2021-2025 NDP would largely depend on domestic resource mobilization from non-oil revenue sources through the results of the Strategic Revenue Growth Initiative (SRGI) and the Finance Acts.
- “This will further enhance and diversify government revenues and enhance fiscal prudence and value for money.” she said.
He urged greater collaboration between the Ministry of Finance and the NESG to enable regular dialogue and engagement between FG and the private sector.
What you should know: Nigeria Vision 2020, designed in the 90s he planned to make Nigeria one of the 20 largest economies in the world, able to consolidate its leading role in Africa and establish itself as a major player in the world economic and political arena, achieving a GDP per capita of $10,000
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