The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, says the country is currently finalising “Nigeria Agenda 2050” to succeed Vision 2020, which lapsed two years ago.
Ahmed said this on Monday in Abuja, at the 28th Nigerian Economic Summit (NES).
The theme of this year’s edition is “2023 and Beyond: Priorities for Shared Prosperity”.
According to the minister, the government has earlier formulated the National Development Plan (NDP), 2021- 2025 to succeed the Economic Recovery and Growth Plan (ERGP), 2017- 2020.
“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, 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-19 pandemic, ” she said.
The minister said that resources were being mobilised with less emphasis on oil revenues.
She said that financing of the NDP 2021-2025 would rely heavily on domestic resource mobilisation from non-oil revenue sources through the results of the Strategic Revenue Growth Initiative (SRGI) and Finance Acts.
“This will improve and further diversify government revenues and entrench fiscal prudence and value for money,” she said.
Ahmed said that the theme for this year’s NES was carefully chosen to provide direction for stakeholders to examine the progress the present government had made in delivering the NDP, 2021-2025.
She said that the Nigeria Agenda 2050, which would be inaugurated soon, seeks to increase the country’s per capita Gross Domestic Product (GDP) to 33,000 dollars.
Ahmed commended President Muhammadu Buhari for his continous support to the NESG in the last seven years.
She said that the collaboration between the finance ministry and the group had provided the platform for regular dialogue and engagement with the private sector and other stakeholders.