Moses Uwagbale<\/p>\n\n\n
Nigeria\u2019s Vice President Yemi Osinbajo has suggested that national development plans should promote economic diversification, modern, ambitious, realistic, flexible enough to absorb shocks and adapt to swiftly changing national and international condition.<\/p>\n\n\n
Such, he said would bring about a society and economy that works for all especially the poor and vulnerable.<\/p>\n\n\n
Osinbajo stated this on Friday in a keynote address delivered virtually at the 19th meeting of the National Council on Development Planning themed \u201cNational Development Planning in Nigeria: Issues and Challenges\u201d.<\/p>\n\n\n
According to the Vice President, \u201cIt is generally agreed that the primary purpose of planning in our economy is to accelerate growth and development outcomes that will improve the lives of Nigerians.<\/p>\n\n\n
\u201cTo be meaningful, our planning processes must lead to tangible outcomes in the form of growth that exceeds population growth. Indeed, our plans must bring about an economy and society that works for all Nigerians.\u201d<\/p>\n\n\n
Referencing the Buhari administration\u2019s Social Investment Programmes (SIPs) as an example of deliberate efforts aimed at ensuring inclusive growth, the Vice President said that an aspect of national planning that is often overlooked is how to manage distributional outcomes in a rapidly changing economic environment.<\/p>\n\n\n
\u201cThis point is readily understood if we recall that the strength of feelings on issues like the national minimum wage or indeed the deregulation of PMS prices is related to their expected impact on the poor segments of society.<\/p>\n\n\n
\u201cIt is accordingly important when drawing up national plans to take account of the interests of the more vulnerable members of society. This is why social investment and social protection are at the heart of the Buhari Administration\u2019s policy interventions.<\/p>\n\n\n
\u201cIndeed, top of mind for Mr President is how to lift 100 million Nigerians out of poverty in this decade as we radically re-engineer the productive base of our economy in agriculture, manufacturing, mining and the digital and creative sectors,\u201d the Vice President explained.<\/p>\n\n\n
Summarizing the core objectives and targets of a desirable national development plan for the country, the Vice President emphasized that \u201cour development plans must be inclusive and promote economic diversification\u201d.<\/p>\n\n\n
His words: \u201cThey must promote coordination among the various tiers of government as well as coordination between ministries, departments and agencies at all levels.<\/p>\n\n\n
\u201cOur plans must also be modern and ambitious and yet realistic and flexible enough to absorb shocks and adapt to swiftly changing domestic and international conditions<\/p>\n\n\n
\u201cOur plans must accelerate domestic resource mobilization and build capacities for planning, implementation and must create the best possible environment for the private sector to invest and operate<\/p>\n\n\n
\u201cAt the core of thinking in our planning must be the aggressive incremental eradication of poverty and the creation of wealth and good-paying jobs. Our planning must be capable of meeting the aspirations and opportunities for a huge and growing youth population.\u201d<\/p>\n\n\n
The Vice President also tasked stakeholders to work hard to overcome challenges of implementation and coordination in the execution of the development plans noting that \u201cimplementation remains the Achilles Heels of our planning efforts. And another make or break issue for planning is coordination.\u201d<\/p>\n\n
Moses Uwagbale Nigeria\u2019s Vice President Yemi Osinbajo has suggested that national development plans should promote economic diversification, modern, ambitious, realistic, flexible enough to absorb shocks and adapt to swiftly changing national and international condition. Such, he said would bring about a society and economy that works for all especially the poor and vulnerable. Osinbajo stated […]<\/p>\n","protected":false},"author":1,"featured_media":6596,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[243],"class_list":["post-29214","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-osinbajo","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"yoast_head":"\n