PRESIDENT Muhammadu Buhari has inaugurated a national steering committee to oversee the development of the Nigeria Agenda 2050 and Medium-Term National Development Plan to succeed Vision 20:20 and the 2017-2020 Economic Recovery and Growth Plan (ERGP).
Back in the 1990s, Nigeria launched Vision 20:20, which was aimed at making the country one of the world’s top 20 economies by the year 2020. After assuming office in 2015, President Buhari’s government then launched the 2017-2020 Economic Recovery and Growth Plan aimed at augmenting Vision 20:20.
Neither plan has succeed in making Nigeria a top 20 economy in the world at the nation currently sits at number 27 on the global table. Nigeria has been hard hit by the collapse in crude oil prices and demand and economic growth which was around 6% between 1999 and 2015, has not surpassed 2% for the five years during which President Buhari has been in office.
Hoping to turn this around, the government has introduced a new development plan, which was launched in Abuja yesterday and will be co-chaired by finance minister Zainab Ahmed and investment banker Atedo Peterside. Femi Adesina, President Buhari’s spokesman, said that Agenda 2050 will lift 100m Nigerians out of poverty.
Mr Adesina said: “The main objectives of these successor plans are to lift 100m Nigerians out of poverty within the next 10 years, particularly given the World Bank’s projection that Nigeria will become the world’s third most populous country by 2050 with over 400m people. He added that the committee would oversee governance structure comprising the central working group and 26 technical working groups for the important national assignment.
President Buhari noted that it had become necessary to develop successor plans to the Nigeria Vision 20:20 and the ERGP, in order to ensure continuity and efficiency in the country’s development planning. He urged members of the committee not to lose sight of the important role Nigeria plays on the continent as well as in the global community.
“It is my expectation that the steering committee will oversee the execution of key deliverables, including recommending measures to ensure the continuous implementation of the plans even after the expiration of the tenure of successive administrations. This will include legislation, if required.
“Such legislation may introduce much-needed rigour and discipline to the nation’s development planning as well as institutionalise planned outcomes for the future. I trust that our partners in the National Assembly will support us in exploring these reforms,” President Buhari added.