Federal Executive Council approves National Development Plan 2021-2025, with 348 trillion-naira Investment.
Written by News Room on November 10, 2021
The Federal Executive Council on Wednesday approved a 2021-2025 National Development Plan with an investment size of 348.7 trillion naira.
Minister of Finance, Budget and National Planning, Zainab Ahmed, disclosed this after the virtual meeting chaired by Vice President Yemi Osinbajo on Wednesday.
Mrs 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.
In addition, the plan underpinned by a macroeconomic framework projecting an average GDP growth of 5 per cent, will have contributions by the public sector at 49.7 trillion naira representing 14.3 per cent and the private sector at 298.3 trillion naira made towards the investment size.
The annual national budget will also be derived from the plan.