The Federal Executive Council has approved the 2021-2025 National Development Plan, which is a successor programme to the Economic Recovery and Growth Plan.
Vice President, Prof Yemi Osinbajo presided over the council meeting.
The plan, with an investment size of N348.7tn, will be funded by the federal, state governments and the private sector.
Minister of Finance, Budget and National Planning, Dr Zainab Ahmed, told reporters after the meeting at the Presidential Villa, Abuja that the plan was structured on economic growth and development, infrastructure, public administration, human capital development, social and regional development.
She said,, “Today, the Ministry of Finance, Budget and National Planning presented a memorandum to council, requesting for approval of the National Development Plan for 2021-2025 which is a plan that is succeeding the Economic Recovery and Growth Plan which will expire in December 2021.
“This National Development Plan we call NDP for short is structured around six concepts and these concepts include economic growth and development, infrastructure, public administration, human capital development, social development and regional development.
“The framework projects average GDP growth of five per cent. The plan has been costed to have an investment size of N348.7tn over five years.”
