From Kunle Aderinokun in Abuja, 09.23.2008 Concerns that the Federal Government is not site spelt milestones and targets for the actualisation of Vision 20-2020 were partly addressed yesterday by the Chief Economic Adviser to the President, Dr. Tanimu Yakubu, who said the management has set a ponderous household produce (GDP) of $900 billion.
Yakubu, who spoke on the $900 billion GDP aim by year 2020 at the cleft of National Identity Management Confe-rence in Abuja, said the annual development scold of the commercial is targeted at a be worthy of of 13 per cent. The GDP is currently $166.8 billion, he said.
He also said per capita profit of Nigerians is targeted to eclipse $4000 per annum by 2020, compared to the undercurrent $1,200 per annum. He explained that the “ambitious growth” projections would be driven by infrastructural happening which will be financed with $60 billion between now and 2013. He said electricity, which is a dominant piece of this infrastructure, is on route to hit 6000 mw by 2009 and 10,000 mw by 2011.
Yakubu, who spoke on “Delivering Nigeria’s Identity Management System Infrastructure”, eminent that the multipurpose vigorous membership card process for the civil indistinguishability press card being proposed would balm forth boldness across multiple channels to the advantage of the Nigerian curtness and enlarge abundance and fiscal prosperity. Wealth the world and plenty were portion of President Umaru Musa Yar’Adua’s seven-point agenda, he said. He stated that other countries, both the developed and developing, were all thoughtful of establishing an moving sameness system, if they don’t already have one in place. “An singularity handling structure (IMS) holds the ace for consumer ascription systems in many developed countries consequently contributing significantly to their processes of productive swelling and development,” he said.
Highlighting factors in implementation and challenges, Yakubu aculeous to expenditure outlay especially harmonising existing Identification Schemes/building databank – connectivity between various databases; Capacity bottleneck; Data Protection Issue including rights & anonymity; Cultural intrusion; No bond of on the mark results all the time; Critical infrastructural support; and Sustainab-ility. Others, he added, are: “Accessibility; Awareness Raising; International Support & Acceptability; Legal and Policy Infrastructure such as Data Protection, Freedom of information, Penalty.” Stating that, “the have the hots for for profitable growth, widened sell and expansion is at the core of the gift administration’s strategies”, Yakubu therefore said it had therefore resolved to heart on “addressing the underlying causes of the Nigerian setting rather than highlighting only the symptoms”. “The prosecution of the seven-point agenda, would, centre of others, be lacking considerable data-bases/registers not just of relations but bounteous assets.
Therefore, de rigueur identification, as faction of an overall dirt supervision strategy, would present to monetary advance and development,” he posited. In witness of the accomplishment that Nigeria has been experiencing a proliferation turnaround, the boonies was ranked amongst the 11 countries identified by Goldman Sachs to have the covert for attaining international competitiveness based on their pecuniary and demographic settings and the establishment for reforms already laid by 2020. Consequently, by 2020 Nigeria intends to be one of the 20 largest economies in the era - able to consolidate its influence responsibility in Africa and form itself as a significant gamester in the global economic and political arena. To actualise this dream, the Central Bank of Nigeria (CBN) has set up a technologic council of the Financial System Strategy (FSS) 2020 to lend the requisite fiscal architecture that will assemble Nigeria into one of the 20 largest economies in the the human race by the year 2020.
The FSS 2020, which many have described as the next big approximation after the banking sector consolidation is aimed at, amid others, making Nigeria one of the safest and fastest growing pecuniary systems in the world, to broaden the most capitalised and cool economic focal point in Africa and thus organize Nigeria the inevitable monetary hub of the continent. It envisions Nigeria in 2020 to be “one of the exceed 20 economies in the world, with universal ratings that retail our financial method as being among the safest in the world.
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