Nigeria to become top middle-income economy by 2050 – Buhari

Written by on May 3, 2023

President Muhammadu Buhari has launched a new long-term national development plan, the Nigeria Agenda 2050 (NA 2050), which aims to ensure that the country attains a Per Capital GDP of $33,328 per annum.

This will place the country among the top middle-income economies in the world by 2050.

The President said the Plan has the vision of a dynamic, industrialized and knowledge-based economy that generates inclusive and sustainable development for the country.

He noted that given the measures already in place for continuous plan implementation, successive Administrations will find the document useful in the delivery of electoral promises.

Also speaking at the inauguration, Minister of Finance, Budget and National Planning, Zainab Ahmed explained the process for the Plan, saying it is not only participatory and consultative but inclusive; involving all critical stakeholders such as, all Federal Ministries, Departments and Agencies (MDAs), 36 states and the Federal Capital Territory as well as the representatives of Local Government Areas (LGAs).

Ahmed said with the expected improved capital accumulation and investment, total employment is expected to rise to 203.41 million in 2050 from 46.49 million in 2020.

This implies that unemployment will drop significantly to 6.3 per cent in 2050 from 33.3 per cent in 2020.

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