Osinbajo: 'We are planning an economy that works for all Nigerians'

Jude Egbas 18:22 - 26 March 2021

Vice President Yemi Osinbajo declares open the 19th Session of the National Council on Development Planning (NCDP). 26th March, 2021. Photo; Tolani Alli

President Buhari is very desirous of lifting 100 million Nigerians out of poverty, Osinbajo says.

Vice President Yemi Osinbajo has stated that in order to enthrone a society and economy that works for all, especially the poor and vulnerable, Nigeria’s national development plans must promote economic diversification, be modern, ambitious, realistic and be flexible enough to absorb shocks.

The vice president stated this on Friday, March 26, 2021 in a keynote address delivered virtually at the 19th meeting of the National Council on Development Planning themed: “National Development Planning in Nigeria: Issues and Challenges."

According to Osinbajo, “It 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.

“To 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.”

He adds that “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."

Participants at the meeting included the Minister of Finance, Budget and National Planning, Hajiya Zainab Ahmed; the Minister of the FCT, Alhaji Mohammed Bello; the Minister of State, Budget and National Planning, Mr Clem Agba; Commissioners for Budget and Economic Planning from the 36 States, among others.

Some 24 million Nigerians are currently unemployed, according to latest data from the nation's statistics bureau.