Vision 20:2020: FG requires N32trn


Aug 6, 2010 


Lagos — Vice President Namadi Sambo said yesterday that the first implementation plan of four years for the country’s Vision 20:2020 would gulp a total of N32 trillion.


Speaking at a validation workshop on draft first National Implementation Plan,NIP, for the Nigeria Vision 20:2020, in Lagos, Vice President Sambo said of the said amount, the three tiers of government were expected to invest  N19 trillion while N13 trillion was expected from the private sector.Represented by the Minister/Deputy Chairman, National Planning Commission, Dr. Shamsuddeen Usman, the Vice President called on the private sector to partner with the government in the development process of Nigeria by “accepting the well-proven fact that only in an environment of complimentarity in the activities of the public and private sectors can the goals that we have set for ourselves be effectively realised.”


“By the design of the two documents, the private sector is expected to be the engine of growth, while the government is expected to scale up its responsibility of providing the necessary level-playing field for the private sector to thrive and, as such, attain the goals and objectives of the NV20:2020.”


We must forge ahead

Vice President Sambo who acknowledged the fact that the money for the implementation was quite enormous, said it was arrived at after careful and studious deliberation, adding: “Besides, we have a strong resolve to push ahead, convinced that we can do it, and do it well. We must realise that since citizens of other countries will not leave their own countries to come and develop our country for us, we must take the bull by the horn and forge ahead.


According to the document which was made available to participants, the plan seeks to engender accelerated pro_poor growth, achieve an average GDP growth rate of 11percent, and raise the GDP per capita income from $1075, in 2009 to $2,008.75 by 2013.


In  the area of housing, the federal government plans to construct by 2013, 600,000 Housing units by the Federal Ministry of Housing, 240,000 units by the Federal Housing Authority and 500 prototype units by the Public Private Partnership(PPP) across the country, with plans to re_capitalize the Federal Mortgage Bank of Nigeria and the proposed allocation during the period is N250,000 billion.For electricity, the proposed investment by the government during this period is N813.760 billion approximately while the target set for the Plan period is 16,000MW by 2013.





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