Vision 2020 nigeria pdf

A lot of declarations have been made on the challenges toward realizing the vision The 14th Nigeria Economic Summary Group NESG 14 , held in October, , made a number of declarations, one of which points to the problems of governance and institutional capacity. The Group concluded that these deficiencies are major obstacles in the race to become one of the 20 leading economies in the world.

Accordingly, the Group recommended among others that Government should restore confidence in all Nigerians by helping to change their mindsets; a change in mindset at all levels of government; and a comprehensive system approach to economic growth and national development.

NESG 14 also called on the Federal Government to reinstate the reform plan that aimed at percent enrollment in basic education by the year Another issue with a very serious implication for realizing the vision is the level of National savings relative to GDP. This analysis is focused on the ability of the Nigerian monetary sector to encourage savings and investment for economic growth and by extension realizing the goals of the vision.

Since , however, it has contained to grow to a high level of Investments declined significantly in Nigeria over the years and were below savings with wide gaps.

The low savings and investment ratio in Nigeria is indicative of the shallowness of the financial market and overall decline in economic activity, especially during the period — ; and this problem of low investment is central to the explanation of low growth in Nigeria.

The role of the monetary sector in realizing this huge amount is instructive. Financial savings must be stimulated to enhance the availability of liquidity, which translates to higher levels of investment. Undoubtedly, one issue that has the most important implication for the vision is industrialization, especially manufacturing.

Achieving this goal is important, but diversifying the economy and ensuring the manufacturing taking its pride of place is another thing. This is more so as the G20, or top 20 economies of the world, are not just largest economies, but industrialized economies.

They think that the G20 is simply the group of the largest economics in the world. However, a crucial little fact has escaped their inattention … the G members are all seriously industrialized economies, each with a substantial manufacturing sub-sector. The G, actually, is the group of the largest industrialized economies Chinweizu, Since , when it peaked at 9. This tragic situation corroborates Ikpeze, Soludo and Elekwa submission that manufacturing value, added as percentage of GDP, was about five percent in less than the proportion at independence in , making Nigeria one of the twenty least industrialized countries in the world.

This is a big challenge for the vision The above problem is further compounded by the natural resource curse that Nigeria has found itself. He defined intangible wealth as human and social capital and institutions.

He pointed out that whereas the intangible wealth constitutes about 80 percent of the national wealth of South Africa, Mauritius and Ghana; but that intangible wealth contributes a negative of 71 percent for Nigeria.

This further buttresses the low manufacturing value added in the economy. It is, however, a wakeup call for the managers of the economy on issues relating to the realization of the vision Emphasis must be made to ensure that we not only get value for our natural resources, but also spend the proceeds wisely. They stated that countries that depend on bulk export of a few varieties of raw materials will suffer. This is the situation in Nigeria today with over dependence on crude petroleum export.

The Nigerian economy is still mono-cultural, but has, however, moved from over dependence on agriculture as was the case in the s and early s to over dependence on crude petroleum Table 1. Despite the many national plans, rolling plans, and economic reforms, the Nigerian economic structure remains unchanged as production activities are still highly import dependent. Imported consumer goods relative to total imports remains high at over 30 percent.

Oil accounts for over 95 percent of foreign exchange earnings, about 40 percent of GDP, and over 70 percent of Federal Government revenue. Inter-sectoral linkages remain weak and unemployment remains high, rising, and problematic. Manufacturing is the heart of any economy. Despite the many economic reforms, manufacturing has yet to make any serious contribution to the economy. The manufacturing sub-sector witnessed increasing activities during the early years of independence.

Added to this is the issue of manufacturing value added, which peaked at 9. This is in addition to the many other issues raised in the paper that has obvious implications for realizing the goals of vision More so, as the G20 members are not just the largest economies, but economies with substantial manufacturing sub- sector.

The Nigeria economy has a vibrant financial sector that has passed through phases of stress and distress. However, the efficiency of the financial sector is still a source of concern.

All these added to the problems of infrastructure remain the major challenges to the goals of vision Issues of efficiency of investments and the natural resource curse should also be looked into as they pose serious challenges to the goals of the vision.

Importantly, too, the government must move away from being the driver of the economy from the point of consumption to active facilitator of private investment and production. Against the above conclusions, it is recommended that there is an urgent need to diversify the Nigerian economy.

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Business Day Newspaper. Annual Report and Statement of Accounts. Statistical Bulletin. Lagos: Realm Communications Limited. The Nation Newspapers, October Egwakhe, A. Impact of Corruption on Nigerian Economy from International Review of Politics and Development, 5 1 , Fakiyesi, O.

Encouraging Growth to Reduce Poverty. Socio-economic Profile of Nigeria. Abuja: Federal Office of Statistics. Corporate Planning Theory and Practice. Pergamon Press, New York. Facebook Twitter WhatsApp Telegram. Guardian Life. Taking to Instagram, the filmmaker shared a video expressing her thanks to viewers who shared their concerns with the sequel.

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It is also the opportune moment for individuals, groups and nations to take a critical look. View the map. Comprehensive Citywide Ferry Study The Comprehensive Citywide Ferry Study provides information and analysis to make planning, policy, and budgetary decisions regarding the future of waterborne recreational and commuter passenger transportation. For more information about Vision please contact waterfrontplan planning. Items accompanied by this symbol require the free Adobe Acrobat Reader.

Borough Citywide. Award Winning. Chapter 1 Introduction Chapter 2 Achievements on the New York City Waterfront The first comprehensive waterfront plan, released in , proposed ways to reclaim the shoreline for public access and productive uses.

This chapter provides an overview of the major projects and initiatives that have come to fruition since Chapter 3 Vision Citywide Strategies The plan's strategies for improving the waterfront are organized into eight overarching goals. Click on each for a description of the goal, the challenges and issues related to the goal, and the City's strategies for achieving the goal. Planning Process. View the presentation.

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