Nigeria’s Federal Executive Council on Wednesday approved a 2021-2025 National Development Plan with an investment size of N348.7 trillion.
Minister of Finance, Budget, and National Planning, Zainab Ahmed, disclosed this after the virtual meeting chaired by Vice President Yemi Osinbajo on Wednesday.
Ahmed noted that the five-year plan which succeeds the Economic Recovery and Growth Plan (ERGP) that expires in December 2021, is structured around six concepts including economic growth and development, infrastructure, public administration, human capital development, social development, and regional development.
According to her, the Federal Government will broaden the tax base and expand the capacity of the private sector through creating investment opportunities as part of a funding strategy for the plan.
In addition, the plan underpinned by a macroeconomic framework projecting average GDP growth of five percent will have contributions by the public sector at N49.7 trillion.
