The vision of the Federal Government to make the economy of the country one of the largest economies by 2020 may be at a crossroads, as recent reports by the United Nation’s Economic Commission for Africa (UNECA) have indicated that the vision may not be realisable.

According to the reports, the growth of the Nigerian economy was hovering between seven per cent and eight per cent, posing a great danger if there was no significant increase beyond these figures.

The economy, according to the Federal Government, is projected to grow in at least 13 per cent progressively towards 2020 to attain the vision. Also, a financial expert and Managing Director, Financial Derivates Company Limited, Bismark Rewane, said generally, the global growth rate was forecast to shrink to 0.9 per cent below population rate growth rate this year.

He added that the problem of the nation’s economy was due to structural imbalances, myopic planning, policy contractions, conflict of interests institutional weaknesses and poor execution of economic plans when they existed.

The Federal Government, however, believed that the seven-point agenda was the springboard through which the vision would be realised and the economy would be put on sound footing.

But the new governor of the Central Bank of Nigeria (CBN), Mr. Lamido Sanusi, while being screened by the Senate recently, said the seven-point agenda should be reduced to two or three, saying the agenda was too broad to be realised within the given time-frame.

The revelation has, however, brought several reactions from analysts and experts alike, most of who praised the governor for the courage to make such declaration.

Sanusi said the seven- point agenda could be easily achieved if it was compressed to two or three.

“In the seven-point agenda of government, critical infrastructure is the first item. My view is that until we address the infrastructural problem in this country, we will not even begin to solve our problems,” Sanusi said.

http://www.tribune.com.ng/22062009/news/news5.html

7 points of failure.

But holy sh@t we're growing at 7-8%, thats amazing. China has grown steadily around 10-12% for 30 years and is almost a superpower.

If we grow at 7-8% and get some basic infrastructure we're flying high.

Those growth stastics are fudge. the growth is very one sided to large government and oil allocation monies.

as long as we don't develop infrastrucutres from power to road, trans[port network etc.

anyway as things are set up now, we will not even be top 20 in 2050.

just to remind nigerians we still don't have landline telephone, as non urgent and less important as power.

all the measures to achieve 20 top economy in the year 2020 are in reverse gear courtesy of our beloved YAR A'CLUELESS .

The man YAR A'DO NOTHING IS A WASTE OF SPACE

You guys don't worry,,some people are already praying that by 2020,,with enough fasting and prayers,,Nigeria would be in the top 5 Economy in the world,,,,just elts all join hands to fast and pray,,,then you would see the Miracle working God making this come to reality,,,,,
That is so funny cos that is the thinking of some Nigerians,,,,

Yes with MIRACLES from the good LORD all things are possible.

Now, I cannot second guess how God will do it, because he is mysterious.

One thing I know for sure God always raise LEADERS to lead in anything he want to be accomplished. From Abraham, Noah, to Moses, David etc.

God business is the business of Miracles and he can do the unthinkable BUT he will ask someone competent to LEAD. when we have a LEADER, then miracle can commence. All the leader has to do is to LEAD, his qualification, age etc is immaterial.

I hope that VISION 6,000MW IN DECEMBER 2009 is still on as we are not hearing anything about it again now that it is only 4 months away.

As for VISIONLESS 2020, that is for our great grand children in 2080. dummy cannot be a substitute for the real thing, PDP are dummy. They are a Poverty Development Party. FeeDeeFee, NO POWER

yes, we have not made any progress since we had the vision.