CURRENT ECONOMIC PLANS: MDGS, NEEDS AND VISION 20:2020

CONTENT

1. Introduction
2. National Economic Empowerment and Development Strategy (NEEDS)
3. Millennium Development Goals (MDGs)
4. Vision 20:2020

Introduction

Nigeria, like other developing nations, has faced several development challenges. In an attempt to overcome such challenges, Nigeria has over the years embarked on a number of economic programmes and long term development strategies. Among these are Millennium Development Goals (MDGs), National Economic Empowerment and Development Strategies (NEEDS), and Vision 20:2020

National Economic Empowerment and Development Strategy (NEEDS)

NEEDS is a reform agenda instituted by the Nigerian government in March 2004 as a working framework for the reform of the Nigerian socio-political and economic structure. It aims to promote macroeconomic stability through transparent rule-based and sound fiscal, monetary and foreign exchange policies, improve efficiency and transparency in the public sector and promote private sector investment through improvements in infrastructure, privatization and financial sector reforms. While the federal government operates under NEEDS, state governments operate under SEEDS (State Economic Empowerment and Development Strategy)

Objectives of the National Economic Empowerment and Development Strategy (NEEDS)

1. Wealth creation
2. Employment generation
3. Poverty reduction
4. Value reorientation

Millennium Development Goals (MDGs)

The Millennium Development Goals are a UN initiative.