The Federal Government says all is set for the formal launching of the new Medium-Term National Development Plans (MTNDPs) 2021 – 2025 by President Mohammadu Buhari in December 2020.
The Minister of State for Budget and National Planning, Prince Clem Agba disclosed this on Thursday at a world press conference, while speaking on the steps taken so far towards the development of Medium-Term National Development Plans (MTNDPs) 2021 – 2025 & 2026 – 2030 and the Perspective Plan, tagged “Nigeria Agenda 2050”.
He said that a deadline has been given to the TWGs to submit their work on the MTNDP, 2021 – 2025 to Central Working Group (CWG) by 30th September 2020, while the CWG is to turn in its report at the end of October 2020 with the launching of the Plan in December by Mr President.
Agba explained that the final document would not only postulate possible, probable and preferable futures for the citizens of Nigeria but also come up with measures for creation of the future we desire.
‘‘In preparing the MTEF, which is being used for the preparation of the 2021 Budget as approved by the National Assembly, the fundamentals of the Macroeconomic Framework for the Medium-Term Plan 2021 – 2025 were brought into focus and incorporated so that the implementation of the Plan begins in effect from the 2021 Budget.
‘‘The macroeconomic indices used for the development of the Economic Sustainability Plan of N2.3 trillion stimulus package to hedge the economy from sliding into deep and prolonged recession due to the impact of COVID-19 have been integrated into the Medium-Term National Development Plan.
‘‘These steps were all taken in the beginning to ensure that, henceforth, annual budgets are derived from National Development Plans, thereby fostering plan discipline in successive years.
‘‘We intend to deepen consultations with sub-national governments to ensure that plan discipline is entrenched in the system if we are to make the desired changes in the economy.’’
‘‘The desire of President Buhari to lift 100 million Nigerians out of poverty on to the path of prosperity in the next 10 years, remains one of the cardinal focuses of the MTNDP 2021 – 2025 & 2026 – 2030.’’
According to him, ‘‘The new Plans will also focus on creating jobs, deepening economic activities and providing enabling environment for thriving of the private sector.
‘‘Consultations are currently on-going with the TWGs and key MDAs and other managers of the key sectors of the economy.
In the days ahead, we will continue to solicit input and memoranda from all stakeholders for purposes of incorporation into the Plan.
‘‘We are currently planning webinar programmes as part of sensitization and engagement process on the new Plans,’’ he added.
To make the plan all-inclusive, the Minister said the administration is concerned with deepening participation of all stakeholders in the development of the new plans.
‘‘We are indeed committed to producing truly national development plans and not just Federal Government Plans.
For this reason, six state Governors, one from each of the six geopolitical zones, representative of major political parties are involved at the Steering Committee level for the development of the Plans.’’
The Minister, however, appealed to media to lend their support in propagating the development of the Medium-Term National Development Plan 2021 -2025 & 2026-2030 and Perspective Plan, Nigeria Agenda 2050 – to Nigerians both at home and abroad as well as the International Community.
He further hinted that the second MTNDP (2026 – 2030) report is due in February 2021; while the final report for the Nigeria Agenda 2050 is due in July 2021.
Recall that Government policies in the outgoing decade had been predicated on the Nigeria Vision (NV) 20:2020, which is being implemented through the Economic Recovery and Growth Plan (ERGP) 2017 – 2020.
The NV20:2020 was envisaged to place Nigeria among the top 20 economies in the world with a minimum GDP of US$900 billion and a per capita income of not less than US$4,000 per annum at the end of 2020, while ERGP came as a child of necessity to pull Nigeria out of recession with a negative GDP growth rate of 1.5% in 2016 to the path of positive and sustainable economic growth, with the terminal date of December 31st, 2020.
Aware of the terminal dates and to avoid a vacuum, President Muhammadu Buhari recently approved and directed the Federal Ministry of Finance, Budget and National Planning to prepare successor plans from which Government could derive its policies going forward.
The new Plans – Medium-Term National Development Plan 2021 – 2025 & 2026-2030 and Agenda 2050 are therefore successor plans to ERGP and NV20:2020 respectively.
Although Nigeria is yet to attain the 20th position in the World economy with single economic growth digit, Agba said ‘‘it is, however, safe to state that implementation of ERGP pulled the economy out of recession unto the path of economic growth as the economy experienced eleven quarters of consecutive GDP growth since exiting recession.
‘‘The GDP grew from 1.91% in 2018 to 2.27% in 2019 but declined to 1.87% in the first quarter of 2020 and -6.1% in the 2nd quarter due to the impact of COVID-19.’’
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