NV20:2020: NIGERIA MAKING TREMENDEOUS PROGRESS, NOW 39TH WORLD’S LARGEST ECONOMY – Dr.Usman

Minister/Deputy Chairman, National Planning Commission, Dr. Shamsuddeen Usman, CON, has revealed that, Nigeria is now number 39^thin terms of GDP ranking among the global best economies, and that tremendous successes concerning realising its ambition of becoming among the top world’s economies by the year 2020 has been achieved.

‘’ We are making progress.  In terms of GDP now we are 39^th in the world from 44^th. In the informal sector a lot of activities are going on there. We hope to even make more progress after rebasing our GDP’’ He said The Minister made this known, Monday, September 3, 2012 in Abuja, during the Inauguration of the Central Working Group (CWG) on the Review of the First National Implementation Plan, NIP (2010-2013) of the NV20:2020.

‘’What gets measured gets done. What is important is for Nigeria is to make progress. We do not want to wait till 2013 to find out whether or not we are making progress. Better we tackle it earlier and correct what is wrong.’’ He stated.

Dr Usman, further said, the review of the first NIP is necessary due to the dynamic nature of the world economy, developments in the global economy, developments in the domestic economy and also to assess progress in implementation, against set, milestones and targets in the plan.

He also mentioned that, the Review of the 1^st NIP is done to take account of developments in Macroeconomic framework, policy initiatives and strategies, sectoral governments projects and programmes as well as private sector investment flows to the country.

The review, will accordingly also include in-depth analysis of all aspects of Nigeria’s basic development objectives and priorities, sect oral and global dimensions; and key gaps challenges and also provide critical inputs for the development of 2^nd NIP, 2014- 2017.

The Minister also mentioned that, a robust Monitoring and Evaluation (M&E) framework has been put in place at the federal level which is expected to be cascaded down to the States in order to provide effective monitoring and track down performances . He hailed Delta State and Cross River State for their effort concerning M&E works they are doing in the state.

While charging the members of the committee to make sacrifices in discharging their duties which he described enormous, the Minister was quick to add that, the confidence reposed in the members of the committee, was because of their pedigree and accomplishment.

Chairman of the review committee, Mr. M.A. Akpobasah, a former Permanent Secretary of the Commission, who spoke on behalf of his Committee members, commended the Minister for his innovative approach towards planning in Nigeria and also described the recent Contract signing agreement between Mr President and Ministers which the NPC initiated as one of the best approach to development planning in Nigeria.