The federal government has pledged to develop an acceptable national development plan with the involvement of critical stakeholders in the process.
The minister of state budget and national planning, Prince Clem Agba made this known to newsmen at the press briefing on Medium-Term National Development Plans 2021-2025 and Nigeria Agenda 2025.
Prince Clem said the process has drawn consultation and participation from all group if persons.
He said ” the process we have adopted is therefore participatory and inclusive. The arms of Government at all levels of Governments, Private Sector (formal and informal), Civil Society Organisations (CSOs), Non-Governmental Organisations (NGOs), Opinion Leaders, Public Commentators, Religious Organisations, Traditional Leaders and various Pressure Groups like Labour, Youths, etc are involved. Mindful of the diversity of the Country, His Excellency, President Muhammadu Buhari, GCFR approved the setting up of a governance structure to ensure well-coordinated approach to the eventual midwifing of the two Plans”.
The minister said respected Nigerians in their fields of endeavour devoid of party lines have been selected to share their worth of knowledge in structuring the plans.
He said “top on the ladder of the governance structure is the Steering Committee (SC), which is co-chaired by well-respected Nigerians representing the Organised Private Sector in the person of economist and investment banker, Mr. Atedo Peterside and the Honourable Minister of Finance, Budget and National Planning, Dr. (Mrs.) Zainab Ahmed for the Public Sector. Also in the Governance structure are the Central Working Group (CWG), headed by a former Deputy Governor of the Central Bank of Nigeria and currently Special Adviser to the President on Finance and Economy, Dr. (Mrs.) Sarah Alade and 26 Technical Working Groups (TWGs), comprising experts with diverse experiences on identified thematic areas for the plans”.
He further said the work of the Technical Working Groups will be premises on the Macroeconomic Framework.
According the Agba, “the Macroeconomic Framework is expected to provide guidance to the work of the remaining 25 Technical Working Groups as the information provided by the Macroeconomic Framework would have revealed the behaviour of the macroeconomic variables and human development indicators considered by the 25 TWGs in relation to the 46 sectors of the Nigeria National Accounts Statistics”.
The minister also said the Technical Working Groups have been charged among other things to review existing plans, policies, programmes and projects in their thematic areas; conduct SWOT Analysis of their thematic areas/sectors; review the assumptions, parameters and forecasts used in the previous sectoral plans and align them with the current realities; consult relevant Ministries, Departments and Agencies (MDAs) in their thematic areas for the relevant data; oversee public consultations where feasible and facilitate discussions to assess and review memoranda received from the public; provide accurate, evidence-based information, programmatic implications and make recommendations on key areas; review existing research reports and share findings/reports; consider the advantages and disadvantages of the approaches for policy topics being explored; and address any other critical issue(s) to facilitate the delivery of the task.
The minister said “for the Perspective Plan, which is the Agenda 2050, the Computable General Equilibrium (CGE) and System Dynamics models were considered as best for it as the period under consideration is beyond the predictive ability of econometric and input-output models (short and medium term dynamics), that is considering the dynamic nature of economic variable and economic agents over a long period. To this end, and in view of the dynamic nature of the economy, the Dynamic Computable General Equilibrium (DCGE) and integrated Sustainable Development Goals (iSDGs) Simulation model, a system dynamic model developed for global use by the United Nations (UN) System for the Sustainable Development Goals (SDGs), were used. Work has reached an advanced stage on the finalisation of the long term models and it is hoped that it will be used for projections for macroeconomic and development blocks of the perspective plan – the Agenda 2050”.