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New National Development Plan – Leadership Newspaper

The federal government, recently, approved the 2021-2025 National Development Plan (NDP) as a successor programme to the Economic Recovery and Growth Plan (ERGP). Minister of Finance, Budget, and National Planning, Zainab Ahmed, who disclosed this also said the plan has an investment size of N348.7 trillion to be contributed by the federal and state governments as well as the private sector.
She explained that the plan is structured on economic growth and development, infrastructure, public administration, human capital development, social and regional development. Ahmed said that for the investment size, the public sector will contribute N49.7 trillion while the private sector will contribute N298.3 trillion.
In the considered opinion of this Newspaper, the NDP is a good idea, but Nigeria has never lacked good development plans, the problem has always been in the implementation of such plans. It is instructive to note that successive governments since independence had initiated one development plan or the other.
The first National Development Plan was from 1962-1968 and was aimed at cooperation between public and private sectors, as well as between federal and regional governments. It also aimed at a high level of development which was expected to supersede the colonial plan before it.
The plan which was expected to last for six years had a proposed total investment expenditure of about N2.132 billion. The public sector investment was put at N1, 352.3 million and the remaining investment expenditure of N780 million was to be made by the private sector.
The Second National Development Plan (1970-1974) was referred to as the oil-boom development plan because it coincided with the period that Nigeria made high earnings from the sales of crude oil and allied products.
The Third National Development Plan 1975-80 also fell within the oil boom years and was the largest and most ambitious of all the plans ever launched. The total expenditure for the plan was N30 billion spread over five years but further adjustments made the figure N60 billion in 1980.
The Fourth National Development Plan 1981-1985 was launched simply to consolidate the third national development plan with much more commitment to petroleum resources. The cost of this plan was N82 billion. Out of this figure, the public sector was to account for N70.5 billion while the share of the private sector was N11.5 billion.
The fifth plan covered 1985 to 1990. In 1986, the government introduced the Structural Adjustment Pogramme (SAP) which was just a “reform therapy” from World Bank and the International Monetary Fund. The administration of General Sani Abacha came up with Vision 2010. The focus was that by 2010, there was going to be measurable and quality development.
In 2000, Nigeria and South Africa spearheaded the introduction of a continental development plan tagged the New Partnership for Africa’s Development (NEPAD) with its Nigerian variant, National Economic Empowerment and Development Strategy (NEEDS).
Also, the administration of the late Alhaji Umar Musa Yar’Adua introduced Vision 20:2020 in 2009. The major objective of the programme is to make Nigeria one of the first 20 economies in the world by the year 2020.
The administration of President Yar’adua, again presented a seven-point agenda for development in Nigeria and it was aimed at tackling the numerous problems of power and energy; food security and agriculture; wealth creation and empowerment; transport sector; land reforms; security; education.
On its parts, the administration of President Goodluck Jonathan introduced the transformation agenda which was meant to run from 2011 – 2015 and it promised to be a policy and programme that will transform Nigeria into an economic powerhouse in the world. The transformation agenda of President Jonathan aimed to address the surge in poverty and insecurity.
The present administration of President Muhammadu Buhari launched   the Economic Recovery and Growth Plan (ERGP) in 2016 as a medium-term economic framework meant to stimulate the recessive economy back to sustainability, accelerate development and restore the economy in the medium term.
Suffice it to say, the problem has never been a lack of development programmes. Experts have attributed corruption, political instability, lack of political will, poor or inadequate feasibility studies, plans’ distortion as challenges mitigating against their implementation.
According to a new report released by the United Nations Development Programme (UNDP) in 2020, Nigeria dropped three spots to 161 in 2019 from 158 in 2018 among 189 countries in the 2020 Human Development Index (HDI). In the opinion of this newspaper, this is worrisome.
We, therefore, call on the federal government to follow the implementation of the new national development plan to the letter. It needs to be underscored that lack of political will has been the bane of development of the country. From our perspective, the faithful implementation of this new plan can hasten the growth and development of Nigeria.

© 2021 || Leadership Media Group || All Rights Reserved.
© 2021 || Leadership Media Group || All Rights Reserved.
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