Vice President Yemi Osinbajo says the Federal Government will create 21 million jobs and lift 35 million people out of poverty in its new National Development Plan (2021-2025).
Osinbajo said this in a statement on Friday by his spokesperson, Laolu Akande.
The new plan is a successor to the Economic Recovery and Growth Plan 2017-2020.
President Muhammadu Buhari had in June 2021 launched a steering committee on national poverty reduction with a commitment of lifting 100 million Nigerians out of poverty in ten years.
The statement said the National Economic Council (NEC), at its meeting on Friday, was acquaintted the linkage between the annual budget and plans through a presentation and memo on the draft of the development plan from the Ministry of Finance, Budget, and National Planning.
“The plan also targets an average of 5 percent GDP growth, the creation of 21 million jobs, and lifting 35million people out of poverty within the duration of the Plan,” the statement said.
It said the plan is a mechanism to engage, empower and employ our teaming energetic youths; provide opportunities for young people, women, vulnerable people, etc., via mainstreaming; increase revenue to 15 percent of GDP by 2025 and decrease the budget deficit.
The statement said the policy actions for the plan include prioritisation and implementation of critical and strategic infrastructure projects that will directly boost production and productivity.
It also include “institutional reforms in public sector, law enforcement, judiciary, and secure property rights, including intellectual property; “Measures to diversify revenue and increase tax to GDP ratio by improving tax administration, including the informal sector, and widening the tax base.”
