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NV20:2020: Nigeria’s opportunities lie with population, untapped natural resources – NTWGs
Abuja, August, 2009: A burgeoning population estimated to hit 210 million by 2020 and rich reserves of unexploited natural resources that can power the nation’s industrial growth have been identified as some of the nation’s growth drivers.
The 29 National Technical Working Groups (NTWGs) which held six sessions of deliberations across thematic themes between July and August 2009, also sees an opportunity in the likelihood of the nation’s ‘’young and thriving democracy’’ creating a stable political environment that would foster business and attract foreign investment.
The potential to increase local value addition in strategic industries was also highlighted by the NTWGs as another huge opportunity towards the realization of the V2020 goals.
The key goals of the vision that would lead to Nigeria becoming the 20th largest economy in the world by 2020 include growing the economy from its present value of $315 billion to $900 billion and raising the present per capita income of $1,500 to $4000.
The NTWGs, comprising subject matter experts in the various areas, reached these conclusions after a consideration of the current status of the respective sectors, the opportunities that exists in each sector and an outline of the vision, objectives and goals for each thematic area.
Some of the thematic areas include: Agriculture, Business environment and Competitiveness, Transport, Education, Energy, Financial Sector, ICT, Judiciary and the Rule of Law, Manufacturing, Environment and Sustainable Development, Governance, Political System, Human Development, Minerals and Metals, Sports Development and SMEs.
Others are: Foreign policy, Housing, Employment, Trade and Commerce, Urban and Rural Development, Science, Technology and Innovation, Niger Delta and Regional Development, Media and Communications, Culture, Tourism and National Orientation, Water and Sanitation, Health, Education, Corporate Governance and Social Responsibility.
Current assessments have identified the Netherlands as the 20th largest economy in the world with a GDP of $642 billion.
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The Honourable Minister of National Planning ...[read more] |
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