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Nigeria Needs N348.1trn Investments To Achieve 5-Year Dev Plan -Buhari
The Nigerian Government requires an investment size of N348.1trillion to achieve the targets set out in the National Development Plan 2021-2025, President MuhammaduBuharihas said in Abuja.
The president spoke at the formal launch and public presentation of the National Development Plan (NDP) 2021-2025, the successor to the Economic Recovery and Growth Plan (ERGP), 2017- 2020, which lapsed in December, 2020.
The Special Adviser to the President on Media and Publicity, Mr. Femi Adesina, made this known in a statement,last Wednesday, and made available to newsmenin Abuja.
Buhari explained that the overall target of the plan is to achieve a broad-based real GDP growth rate of 5per cent on average during the plan period; generate 21million full-time jobs; and through an inclusive growth, lift 35million people out of poverty.
He added that this would set the stage for achieving the government’s target of lifting 100million Nigerians out of poverty in 10 years, under the National Poverty Reduction with Growth Strategy (NPRGS).
To achieve these, the president noted that out of the investment size of N348.1trillion, the government is expected to provide N49.7trillion or 14.3percent, while the private sector would provide the balance of N298.3trillion or 85.7percent.
‘‘This implies that successful implementation of the plan will require a strong partnership between the public and private sectors.
‘‘In this regard, a Development Plan Implementation Unit headed by the Vice President with the Honourable Minister of State, Budget and National Planning as the Vice-Chair will be established in the Budget and National Planning arm of the Ministry to ensure overall coordination with the Ministries, Departments and Agencies; sub-national governments; Private sector operators and Civil Society Organisations,’’ he said.
The president recounted that the Federal Executive Council (FEC) had on November 10, 2021, approved the Draft National Development Plan, 2021-2025, which is the first of the envisaged Medium Term development Plans to implement the Nigeria Agenda 2050.
‘‘The Plan, as a matter of deliberate efforts, is comprehensive and has the capacity not only to accelerate and sustain national development but also the attainment of various Regional and Global Agendas, including the AU Agenda 2063, ECOWAS Agenda 2050 and the UN Sustainable Development Goals, 2030.
‘‘I have no doubt in my mind that with effective and sustained implementation, Nigeria will achieve quantum leap in unlocking its potentials in all sectors of the economy for a sustainable and inclusive national development,’’ the president said at the presentation before the commencement of the weekly FEC meeting.
Commending the Ministers of Finance, Budget and National Planning, the leaderships of the National Steering Committee, the Central Working Group and the Technical Working Groups for the sacrifice and efforts in achieving this milestone, Buhari noted that the implementation of the ERGP not only helped the country to exit the 2016 economic recession but sustained a modest growth until the advent of the recent global economic challenges occasioned by the outbreak of the Coronavirus (COVID-19) pandemic.
‘‘The sustained implementation of the ERGP ensured execution of our social investment programmes and improvement in infrastructure across the country.
‘‘In order to ensure a seamless transition and continue the implementation of the policies, programmes and projects of government, it became necessary to prepare a successor Plan to the Economic Recovery and Growth Plan.
‘‘I on September 9, 2020, therefore, inaugurated the National Steering Committee (NSC), co-chaired by the respected Mr.AtedoPeterside and the Minister of Finance, Budget and National Planning, Dr. (Mrs) Zainab Ahmed.
‘‘Apart from the NSC the institutional arrangement for the preparation of the plan also included; the Central Working Group (CWG), the Technical Working Groups (TWGs) and a strong Secretariat that supported the process.
‘‘The process adopted for the preparation of the plan was not only participatory and consultative but also inclusive; involving all segments of the society such as; key political parties; government agencies; labour unions; youth organisations; civil society organisations; women society; farmers’ association; ALGON; traditional and religious leaders and representatives of people with special needs; and development partners,’’ he said.
According to the president, the broad objectives of the plan include the establishing a strong foundation for a concentric diversified economy with robust MSME growth and a more resilient business environment as well as investing in critical, physical, financial digital and innovation infrastructure.
The president added that the plan is also expected to build a solid framework to strengthen security and ensure good governance while also enabling a vibrant, educated and healthy population.
‘‘The macroeconomic framework recognizes that sectors have differing potentials for growth and identified and leveraged on those sectors with the highest potentials for stimulating growth,’’ he explained.
President Bola Tinubu has expressed confidence that the country would win the fight against insecurity.
The President gave the assurance at the Argungu International Fishing Festival in Argungu town, Kebbi State, on Saturday.
He noted that the relative peace currently being enjoyed in Kebbi and neighbouring states was the result of sustained investments in security intelligence, coordination among security agencies, and community engagement.
Tinubu assured farmers and fishermen of sustained federal support to guarantee food security and safety across the country.
“The peace we are witnessing today is not accidental. It is the outcome of deliberate and sustained efforts. I assure you that the fight against banditry, insurgency, and insecurity will be won.
“Our farmers, fishermen, traders, and families will go about their lawful activities without fear,” he assured.
The President commended the organisers of the festival for sustaining the cultural event for decades, noting that it had endured for 83 years despite social and security challenges.
Describing the Argungu festival as a powerful symbol of unity, resilience, and peaceful coexistence, Tinubu stated that it reflects the richness of the country’s culture and the opportunities to harness its natural and human resources for national growth.
He said, “Today, this festival stands as a powerful symbol of unity, resilience, and peaceful coexistence among our people.
“It reflects the richness of our culture, the strength of our traditions, and the opportunities inherent in harnessing our natural and human resources for national development.”
The President was received by a large crowd of residents, traditional rulers, fishermen, tourists, and government officials from across the country.
The President reaffirmed his administration’s commitment to youth and women empowerment, irrigation development, rural electrification, and agricultural productivity.
Earlier, the Kebbi State Governor, Nasir Idris, said his administration was determined to elevate the Argungu Fishing Festival to full international standards while pursuing aggressive development across critical sectors of the state.
The United States Embassy in Abuja and the Consulate General in Lagos will be closed today, in observance of Presidents’ Day.
The mission made this known in a notice shared on its official X page, yesterday.
“The U.S. Embassy in Abuja and the Consulate General in Lagos will be closed on Monday, February 16, 2026, in observance of Presidents’ Day,” the post read.
According to the embassy, Presidents’ Day was originally established to honour the birthday of the former US President, George Washington, but has evolved into a day to celebrate all U.S. presidents and their leadership in shaping the country’s history.
The embassy noted that the holiday also recognises the influence of U.S. presidents on global affairs.
In a related message, the mission highlighted that Washington created the first “Badge of Military Merit,” which later became the Purple Heart. The medal still bears Washington’s image today.
Presidents’ Day is observed on the third Monday of February annually in the United States as a federal holiday.
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Guterres Backs Nigeria’s Bid For UN Security Council Seat …Hails Tinubu’s Reforms, Regional Security Role
United Nations Secretary-General, António Guterres, has charged Nigeria with spearheading Africa’s quest for a restructured global order, describing the country as uniquely positioned to lead the continent toward superpower status.
Guterres, who backed Nigeria’s bid for the world body’s security council seat, also praised the economic reforms of the President Bola Tinubu-led administration as well as Nigeria’s leadership in stabilising the Sahel and ECOWAS regions, despite facing its own security challenges.
The UN scribe made the remarks last Friday night during a high-level bilateral meeting with Vice President Kashim Shettima on the sidelines of the 39th African Union (AU) Summit in Addis Ababa, Ethiopia.
Speaking during the meeting, Guterres said Nigeria’s large population, sustained democratic governance, vast natural and human resources, and longstanding commitment to multilateralism placed it in a unique position to lead Africa in the evolving global order.
“Given Nigeria’s demographic strength, democratic continuity and deep resource base, the country stands a real chance of leading Africa to becoming the next superpower in the evolving global architecture,” he said.
The UN Secretary-General and the vice president discussed key developments in Nigeria and the country’s expanding leadership role in promoting regional stability across West Africa and the Sahel.
Guterres commended the remarkable and outstanding reforms of the administration of President Tinubu, noting that Nigeria’s bold economic restructuring and security commitments have strengthened its continental standing.
The meeting focused on strengthening Nigeria–UN collaboration to advance global economic growth, peace and security, sustainable development, and a coordinated humanitarian response across Africa.
In his remarks, Shettima thanked the UN Secretary-General for his leadership in advancing global peace, noting that Africa has benefited immensely from his tenure, even as the United Nations undergoes internal restructuring.
“We remain committed to multilateralism and to deepening our partnerships with the United Nations and other global institutions,” the vice president said.
Shettima also reiterated Nigeria’s longstanding call for comprehensive reform of the United Nations system to reflect evolving global realities.
He emphasised that Africa must have stronger representation in global decision-making structures and declared that Nigeria deserves a permanent seat on the United Nations Security Council.
Both leaders pledged to deepen cooperation, with Guterres reaffirming the UN’s support for Nigeria’s reform agenda and its growing leadership role in advancing peace, security, and development across Africa.
