By Yakubu LAAH investadvocate

Oct 15 2010 05.00 GMT

 

Lagos (investadvocate)-The total investment required for the First National Implementation Plan (NIP) of the Nigerian Economic Summit Group (NESG) is estimated to take N32 trillion.

 

This was contained in an address by the Shamsudeen Usman, Minister of National Planning on the occasion of the world press conference preparatory to the 16^th Nigerian Economic Summit held Thursday October 14 2010 in Lagos Nigeria.

 

Usman affirmed that the First NIP has been approved by the Federal Executive Council for implementation; with its theme “Accelerating Development, Competitiveness and Wealth Creation”.

 

“The First NIP focuses on laying a strong foundation for achieving the vision” he said.

 

The Honourable Minister noted that the First NIP was equally developed under an inclusive process, “with close attention paid to what went wrong and what we need to do differently; especially with respect to issues of governance and leadership challenges which Nigeria has had to contend with in the last 50 years” he affirmed.

 

“This plan is also a national one, as it incorporates States plans, while respecting the principle of the separation of powers and requiring greater mutual cooperation” the Minister affirmed.

 

He stated that the 16^th Nigerian Economic Summit would provide a unique opportunity for key stakeholders in the public and private sectors to review past development efforts, and offer suggestions for the actualisation of the plan.

 

The theme of this year’s summit is “Nigeria at 50: The Challenge of Visionary Leadership and Good Governance”

 

Usman noted that this theme is timely; because it is informed by the fact that this year marks Nigeria’s 50^th anniversary as an independent nation and provides a good opportunity to take stock of the progress made in the country in the review period and proffer ideas and strategies to make the country succeed.

 

“This is in consonance with the aspiration of positioning Nigeria in the league of top 20 economies of the world by year 2020” he said.

 

The Minister affirmed that the NV20:2020 was anchored on two specific targets, which include achieving by 2020 a Gross Domestic Product (GDP)  of not less than US$ 900 billion and a per capita income of not less than US$4,000