Vice President Yemi Osinbajo said on Friday the priority of President Muhammadu Buhari’s administration was to lift 100 million Nigerians out of poverty.
Osinbajo stated this in a keynote address delivered at the 19th meeting of the National Council on Development Planning in Abuja.
He said the developmental plans include economic diversification which is adaptable to changing international conditions.
The vice president said: “It is generally agreed that the primary purpose of planning in our economy is to accelerate growth and development outcomes that will improve the lives of Nigerians.
“To be meaningful, our planning processes must lead to tangible outcomes in the form of growth that exceeds population growth. Indeed, our plans must bring about an economy and society that works for all Nigerians.”
Osinbajo mentioned the Social Investment Programmes (SIPs) as one example of the government’s deliberate efforts at ensuring inclusive growth in the country.
According to him, one aspect of national planning that has been overlooked by successive administrations in the country is the management of distributional outcomes in a rapidly changing environment.
He added: “This point is readily understood if we recall that the strength of feelings on issues like the national minimum wage or indeed the deregulation of PMS prices is related to their expected impact on the poor segments of society.
“It is accordingly important when drawing up national plans to take account of the interests of the more vulnerable members of society. This is why social investment and social protection are at the heart of the Buhari administration’s policy interventions.
“Indeed, top of the mind for Mr. President is how to lift 100 million Nigerians out of poverty in this decade as we radically re-engineer the productive base of our economy in agriculture, manufacturing, mining, and the digital and creative sectors.”