Federal Government says it requires an investment size of ₦348.1 trillion to achieve the targets set out in the National Development Plan 2021-2025.
President Muhammadu Buhari said this in Abuja while making a public presentation of the National Development Plan (NDP), 2021-2025, which is the successor to the Economic Recovery and Growth Plan 2017- 2020.
The President explained that the overall target of the plan was to achieve a broad-based real GDP growth rate of 5% during the plan period, generate 21 million full-time jobs, and through inclusive growth, lift 35 million people out of poverty.
The initiative would set the stage for achieving the government’s target of lifting 100 million Nigerians out of poverty in 10 years, under the National Poverty Reduction with Growth Strategy, the President stressed.
To achieve these, President Buhari explained that out of the investment size of ₦348.1 trillion, the government was expected to provide ₦49.7 trillion or 14.3%, while the private sector would provide the balance of ₦298.3 trillion or 85.7%.
He said a Development Plan Implementation Unit, headed by Vice President Yemi Osinbajo, and Co-chaired by Minister of State for Budget and National Planning, would be established to ensure overall coordination with ministries, departments, agencies, sub-national governments, private sector operators, and civil society organisations.