The Federal government has pledged to ensure total support for the full implementation of the 2030 Agenda for Sustainable Development, the Agenda 2063 and the recently launched National Plan (NDP) 2021-2025.
According to the Minister of State, Budget and National Planning, Prince Clem Ikanade Agba, “the plans, as a matter of conscious effort, are comprehensive and have the capacity to accelerate the attainment of various regional and global Agendas, including the AU Agenda 2063, ECOWAS integration Agenda and the Sustainable Development Goals 2030.”
Prince Clem made the pledge in his goodwill message at the Validation Workshop of Framework to Establish Wholesale Impact Investment Fund in Nigeria organised by the German Cooperation (GIZ) in collaboration with the European Union and the Federal government in Abuja on Thursday.
The minister explained that the Vision of the Plan was to make Nigeria a country that had unlocked its potential in all sectors of the economy for a Sustainable, Holistic and Inclusive National Development.
He said, “Some of the specific targets of the Plan are: to improve GDP growth to 5.0 percent on the average during the Plan period; generate 25 million jobs; lift at least 35 million Nigerians out of poverty; and raise Government revenue to 15 percent of GDP by 2025, thus, setting the stage for achieving the government’s commitment of lifting 100 million Nigerians out of poverty in 10 years among others.
“The Plan is unique from other previous Plans in many respects. It contains three volumes. The Volume I contains the policies with targets and the required investment; Volume II has the costed priority programmes and projects; while Volume III is the legal and legislatives imperatives, which includes the enabling laws that need to be passed or amended for effective implementation of the NDP, 2021-2025.”
According to the minister, other new features of the Plan included a mechanism to Engage, Empower and Employ our teaming energetic youths; inclusiveness- Opportunities for young people, women, PSN, vulnerable; financing plan to increase revenue to 15 percent of GDP by 2025 and to decrease budget deficit.
“The country can achieve these targets through an inclusive economic growth and development; leveraging its young workforce, enhancing implementation capacity at national and subnational levels and sustaining the growth of MSMEs.
“The Plan also focuses on identifying and removing binding constraints to growth as well as mobilizing resources for sustainable development of the country. With this Plan, the Federal Government intends to progressively continue to increase the capital component of its Budget and reduce the spend on recurrent expenditure.
“The financing of the NDP will rely heavily on domestic resources mobilization, especially, from the Non-Oil revenue sources,” he added.
The minister who commended the National Advisory Board of the SDGS, the EU, GIZ and other critical stakeholders especially the private sector for investing in Nigeria, enjoined them “to continue to work closely with the government to deliver on the implementation of both Plans.”
“Nigeria has great investment potential with the large market size based on its population and the willingness of the government to create the enabling environment that will attract both local and foreign investments. I am hopeful that the participants in this event will no doubt help in attracting the much needed Foreign Direct Investment into Nigeria,” Agba stated.
The objectives of the workshop, according to the organisers included:
*to present the draft framework/roadmap to discuss, validate and receive their feedback for a final robust and best in class document;
*identify stakeholders for Collaboration to drive the implementation/operationalization of the roadmap/establishment of the fund and participation in the Impact Investors Forum (IIF).
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