The Federal Government’s decision to involve the private sector to bridge the estimated N350 trillion infrastructure gap across the country through a five-year Medium-Term National Development Plan (MTNDP), 2021-2025, is a welcome development worth celebrating.
The Buhari Media Organisation (BMO) in applauding the move, echoed an expert’s opinion that “giving wealthy private companies the opportunity to bridge the infrastructure gap in the country will not only reduce the burden on the government at the center but also reduce the rate of our borrowing”.
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In a statement signed by its Chairman Niyi Akinsiju and Secretary Cassidy Madueke, the group said that “after the fourth era of the fixed medium-term development plan (1981-1985), this is the first time that the government is reverting to a development plan.
“The Development Plan will give capacity through projections to help situate plans within a longer period of time.
“Now we have a government in place that is thinking medium term to long term planning to ensure continuity and consolidation of projects and achievements.
“This will help define the national budget as it gives room for adequate planning and delivery of projects.”
BMO noted that “since government and governance is a continuum it is almost impossible to deliver projects in a short term plan and that is why the medium term plan is commendable.
“It is now clear that the 12-month cycle which we have practiced over the years has proven not to be all-embracing”.
The group added that the development plan has been activated in the 2022 budget recently presented by President Muhammadu Buhari, which is a reflection of the 2021-2025 medium term plan.
BMO urges the private sector and investors alike to be encouraged to take advantage of government policies put in place to make the country an enabling environment for them to invest and thrive. (NAN)