Vice-President Yemi Osinbajo (SAN) has stated that the recently approved 2021–2025 National Development Plan will usher in a new era of accelerated growth in the country due to its emphasis on value addition as a major pivot to boost productivity in all sectors.
Osinbajo made the remarks during a graduation ceremony for participants in the National Institute of Policy and Strategic Studies’ Senior Executive Course 43 (2021) in Kuru, Jos.
According to a statement issued by his spokesman, Laolu Akande, on Sunday, the VP said “If we are to usher in a new era of accelerated growth, we must change our strategic direction and policy orientation.” “This is exactly what the Federal Government seeks to achieve through the National Development Plan 2021-2025, which was recently approved by the Federal Executive Council.
The statement was titled, ‘How National Development Plan will accelerate growth – Osinbajo says at NIPSS graduation’.
According to reports, the VP cited the rise of Nigerian Unicorns, noting that “six of those companies started between 2016 in the middle of two recessions and the global health crisis.”
A Unicorn is a company with a valuation equal to or over a billion dollars.
He submitted that some of the successes recorded by those Unicorns- Nigerian start-ups owned by young men and women, can be attributed to providence and good policies.
According to him, such companies named Unicorns in Nigeria emerged between 2016 and 2021. The companies the VP listed are: Opay, Paystack, Flutterwave, Andela, Piggyvest and Jumia.
Osinbajo pointed out how the Plan aims to boost productivity in some of these key sectors such as agriculture and mining.
“In agriculture, for example, just as we seek to increase the production of rice, we are paying equal attention to other parts of the value chain such as storage, transportation, processing and marketing.
“Similarly, in the mining sector, we recognize that exploitation and extraction will not create jobs. Our aim is to focus on resource beneficiation, local industries, thereby creating wealth along the mineral value chain,” he explained.