The National Economic Council Council ( NEC) received a presentation and memo from the Ministry of Finance, Budget, and National Planning on the draft of a National Development Plan 2021-2025.
The new plan is a successor plan to the Economic Recovery and Growth Plan 2017-2020.
Spokesman to the vice president, Laolu Akande in a statement said among other highlights, the presentation and memo were to acquaint Council with the need for linkage between Annual Budget and Plans.
He said “The plan also targets an average of 5% GDP growth, the creation of 21million jobs, and lifting 35million people out of poverty within the duration of the Plan.
- ”A mechanism to engage, empower and employ our teaming energetic youths
“Inclusiveness – Opportunities for young people, women, vulnerable people, etc., via mainstreaming.
“A financing plan to increase revenue to 15 percent of GDP by 2025 and to decrease the budget deficit
The policy action of the plan include “prioritization and implementation of critical and strategic infrastructure projects that will directly boost production and productivity .
“Institutional reforms in public sector, law enforcement, judiciary, and secure property rights, including intellectual property.
“Measures to diversify revenue and increase tax to GDP ratio by improving tax administration, including the informal sector, and widening the tax base.
Akande said NEC received a presentation from the Kebbi State Governor, Atiku Bagudu on behalf of the Grazing Reserve Audit Committee.
According to him, the summary of the presentation was to brief NEC on the essence of the audit which is to document available land in order to aid the implementation of the 10year National Livestock Transformation Plan approved by NEC in 2019.
He said the presentation clarified that the audit committee is not mandated to recover grazing reserves.
He also Council received a progress report from the Chairman of the Committee, Delta State Governor on covid -19.
He said the Federal Ministry of Health is establishing oxygen plants across the 36 States in the country, but currently, 6 States have been provided with oxygen cylinders so far.
“The FG has paid for 40 million doses of Covid -19 vaccines coming in batches and therefore a considerable amount of the vaccines will come into the country between now and January 2022 . Nigeria is now classified among the 50 countries in the green zones.
He also said Excess Crude Account ( ECA) as at 13th October stands at $60, 857,773.43. Stabilization account -N 25,009,892,511.55 and Development of Natural resources account – N56,144,024,000.71.
source: leadership
