From Isaac Anumihe, Abuja
Minister of Finance Budget and National Planning Mrs Zainab Ahmed has informed that reforms in agriculture are yielding fruits to the extent that the net earning of rural farmers is over N174 billion.
The products, according to her, include cassava, rice, sorghum, maize and cotton production.
Speaking at the ongoing 28th Nigerian Economic Summit (NES#28) in Abuja, Ahmed said that the government was making efforts to ensure the delivery of the successor plan to the Economic Recovery and Growth Plan (ERGP), 2017-2020, the National Development Plan (NDP), 2021-2025, which has the potential of increasing the country’s per capita Gross Domestic Products (GDP) to US$33,000 by 2050 and place Nigeria amongst the rank of Upper Middle-Income Countries.
The plan, according to the minister, was developed and approved by the Federal Executive Council and launched by President Muhammadu Buhari on December 22, 2021.
“We are currently finalising the country’s Perspective Plan- Nigeria Agenda 2050 to replace Nigeria Vision 2020 which lapsed in December 2020. We are in the second year of the implementation of the National Development Plan (NDP) with the private sector taking the lead.
“Although challenged by a shortfall in revenues, the government kept its pact by prioritising capital releases in favour of critical ongoing infrastructural projects in the power, roads, rail, agriculture, health and education sectors. This is with a view to strengthening the Nigerian economy post-COVID-19 pandemic. Resources are being mobilised with less emphasis on oil revenues
” I am pleased to inform you that the draft Nigeria Agenda 2050 is being finalised and will be launched soon. The plan seeks to increase the country’s per capita GDP to US$33,000 by 2050 and place Nigeria amongst the rank of Upper Middle-Income Countries. The plan will be implemented by successive governments through six, to five-year Medium-Term National Development Plans and Annual Budgets. The Nigeria Agenda 2050 has a moral imperative to lower the poverty and unemployment rate significantly as this is the only way we can ensure sustainable broad-based growth,” she said.
The Minister of State for Finance Budget and National Planning, Prince Clem Ikanade Agba, stated that the plan has an investment size of N348.1 trillion and will be allocated to sectors.
Whereas the private sector is expected to contribute 86 per cent of the investment, the public sector (federal and sub-national levels) will contribute the remaining 14 per cent.