Speaking at the Federal Executive Council Meeting at Abuja, Minister of Finance, Budget, and National Planning, Dr. Zainab Shamsuna Ahmed explained that the plan is structured on economic growth and development, infrastructure, public administration, human capital development, social development, and regional development.
“The establishment of the plan development implementation will be in the planning arm of the ministry to ensure that the ministries, departments and agencies, state governments, and private sector organizations are all working in a coordinated fashion.” she said.
The federal government expenditure component is N29.6 trillion representing 8.5% of the total expenditure size while the state governments will contribute N20.1 trillion representing 5.8%. The private sector component will contribute N298.3 trillion representing 85.7 percent total the investment size of N348.7 trillion.
The development plan is coming 10 months after the expiration of the Economic Recovery and Growth Plan (ERGP) (2017-2020) to ensure the continuous growth of Nigeria.