President Muhammadu Buhari has inaugurated Nigeria’s National Development Plan 2021-2025 to succeed the Economic Recovery and Growth Plan (ERGP 2017-2020).
The president presented the document to the public shortly before the commencement of the virtual meeting of the Federal Executive Council (FEC) held at the council chambers of the Presidential Villa, Abuja, on Wednesday.
While presenting the document, the president was assisted by Vice-President Yemi Osinbajo; Secretary to Government of the Federation, Boss Mustapha; Gov. Atiku Bagudu of Kebbi State; as well as Minister of Finance, Budget and National Planning, Dr Zainab Ahmed.
Speaking at the event, The Minister of Finance, Budget and National Planning, Hajia Zainab Ahmed, revealed that the new document replaced the Economic Recovery and Growth Programme.
She said: “The NDP 2021-2025 is designed as our medium-term Development Plan to succeed the Economic Recovery and Growth Plan (ERGP 2017-2020), which ended in December 2020.
“The ERGP 2017–2020 assisted the country to exit economic recession in 2017, and sustained modest growth until the recent global economic challenges occasioned by COVID-19 Pandemic.
“The current challenges are products of many years of inappropriate policies, fiscal leakages and global economic phenomena.
“This Administration is taking necessary actions that will fundamentally change the structure of the economy and how government businesses are conducted for efficiency and effectiveness.”
She said the plan would help Nigeria achieve robust development in the Science and Technology sectors.
“The President graciously granted approval to my Ministry in 2019 to develop a new national development plan to succeed both ERGP 2017-2020.
“It is very important to note that the Plan is a pointer to the type of Nigeria we all desire and encourages the use of science, technology and innovation to drive growth,” she added.
According to the minister, the NDP 2021-2025 will help Nigeria achieve its agenda at the continental and global levels.
“I want to place on record that this Plan is sufficiently comprehensive with the capacity to accelerate the attainment of various regional and global Agendas, including the AU Agenda 2063, ECOWAS integration Agenda 2050 and the Sustainable Development Goals 2030.
“In order to have the future we all desire, the Plan is developed to play a sizable role in the product complexity space internationally and adopts measures to easing constraints that have hindered the economy from attaining its potentials, particularly, on the product mapping space.
“The Plan provides for the implementation of major infrastructure and other development projects across the six Geo-political Zones and the opening up of opportunities for the rural areas to ensure balanced development and increased competitiveness,” she said.
Others present at the event included Ministers of Information and Culture, Lai Mohammed; Water Resources, Suleiman Adamu; Power, Abubakar Aliyu; Justice, Abubakar Malami; Industry, Trade and Investment, Niyi Adebayo, as well as Ministers of State for Education, Chukwuemeka Nwajiuba, and Budget and National Planning, Clement Agba.