MTNDP: What You Should Know About Nigeria’s New Development Plan

The Nigerian government is working on a new five-year national development plan that has identified nine priority areas that need interventions.

The Medium-Term National Development Plan (MTNDP) 2021-2025 will be unveiled in October 2021, the Minister of State for Finance, Budget and National Planning, Clem Agba, said.

Agba at a capacity building workshop for Special Advisors and Technical Assistants of the ministers of Nigeria organized by the Konrad-Adenauer Stiftung (KAS) in Abuja, explained that the plan is currently being reviewed by different stakeholders.

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According to him, the MTNDP will replace the Economic Recovery and Growth Plan (2017-2020) that ended in December 2020.

Here are other things you need to know about the MTNDP:

1. The government is planning to increase employment generation by about 25 million – 10 million from direct growth impact and 15 million from skill-acquisition and other interventions.
2. Projected real GDP growth between 2021 and 2025 would be sufficient to ensure that about 10 million people do not fall into poverty.
3. An additional number of people 25 million will be taken out of poverty, reducing poverty rate by 31 percent by 2025 compared to 40 percent in 2020.
4. The government is estimating a broad-based economic growth of about 3.8 percent on average driven by non-oil GDP growth of 4 percent and oil GDP growth of 2.1 percent.
5. Sustain the economic recovery and put the economy on a path of increasing per capita income to avert the past trend of higher population compared to the real GDP growth
6. Ensure macroeconomic stability, anchored on coordinated fiscal and monetary policies, to achieve a declining path of inflation, a foreign exchange regime that allows for managed flexibility and consistency with macro-structural fundamentals.
7. Continue to contain the economic and health impact of the pandemic through fiscal and monetary policies in a transparent and efficient manner.
8. Ensure a more competitive non-oil sector; and a more robust and resilient economy that is less dependent on the oil sector.

Agba said a review of the plan would be done by the National Steering committee, the National Economic Council, and the Federal Executive Council before it would be launched.