A 30-year National Infrastructural Master Plan (NIMP) is currently being put together by the federal government as a coordinated approach for the development of infrastructure, President Goodluck Jonathan said Tuesday.
Jonathan, who spoke through the Vice-President, Namadi Sambo, in Lagos at the 70th anniversary lecture of the Island Club, also gave his administration a pass mark on the implementation of his administration’s Transformation Agenda, declaring that his government was on course.
According to the president, the absence of the NIMP had been the bane of development in Nigeria.
He explained that the Master Plan when ready would be implemented through three 10-year strategic plans, and six five-year operational plans and expected to guide the annual budgetary process commencing with effect from 2014. “NIMP provides the capital allocation framework, which identifies the required investments for infrastructural development, in line with the country’s growth aspirations. It also identifies and elaborates on enablers for implementation that would need to be put in place for successful execution. More importantly, the NIMP is in synergy with all other aspects of the Transformation Agenda and Vision 20:2020”
According to the president, in accordance with international best practices, a review of the Transformation Agenda was undertaken in May 2013, to take stock and re-strategising on the work-in-progress.
“’The review which covers the period May 29, 2011-May 29, 2013 was comprehensive and spanned all sectors of the economy. It also takes into account emerging developments in the global and domestic economy as well as the in-depth analysis of all aspects of our basic development objectives and priorities, while exploring the outlook and prospects for the second half of this administration. We presented the detailed report for information and assessment by all Nigerians in keeping with our mandate and campaign promises.”
Jonathan also declared that the mid-term review of the Transformation Agenda indicated that the country’s economy ws on the right track.
“The government has made considerable progress in the last two years at the macroeconomic and sectoral levels. Several reform initiatives have been implemented and significant aspects of the targets of the Transformation Agenda were achieved.
“In particular, the nominal GDP grew from $226.13 billion in 2010 to $257 billion in 2012, which translated to an improved global GDP ranking of the country from 44th position in 2010, to 36th position in 2012.”
He hinted that his government would ensure that the proportion of re-current expenditure in the total budget is significantly reduced in order to adequately invest in the future.
According to him, government had also introduced the performance management system, as a measure to benchmarking and holding public officers more accountable and ensure better effective delivery of services.
According to him, the aim of the transformation agenda is to achieve an all inclusive, non-inflationary growth, improve rural infrastructure, encourage large scale industries and Small Medium Enterprises (SMEs).
Others are to ensure fiscal consolidation, revitalise ailing industries, particularly in the manufacturing sub-sector, promote agriculture as a business and encourage local content strategies in key sectors such as petroleum, natural gas, power and other renewable energy programmes.