FEC approves National Development Plan to replace ERGP

Latest Breaking Business News in Nigeria Today: FEC approves National Development Plan Vice President Yemi Osinbajo at FEC
The federal executive council has approved a national development plan worth 348.7 trillion naira, this plan from 2021 to 2025 and is a successor programme to the Economic Recovery and Growth Plan.

The estimated cost of the development plan will be contributed by the federal, state government and private sector.
The plan is structured around six concepts which include economic growth and development, infrastructure, public administration, human capital development, social development and regional development.
The minister of Finance, budget and national planning Zainab Ahmed told state house correspondents that this week’s  federal executive council chaired by Vice President Yemi Osinbajo that the long term plan which is agenda 2050 will begin immediately after the launch of the medium term plan.
She says the public sector will contribute N49.7 trillion while the private sector will contribute N298.3 trillion.

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