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Nigeria Economic Plans Since 1960: Hit Or Miss? - Politics - Nairaland

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Nigeria Economic Plans Since 1960: Hit Or Miss? by EagleNest(m): 6:59am On Jul 02, 2020
National Economic Development Plans and Policies:Success or Failure or Both?[b]

Since 1960, Nigeria had tried various economic initiatives and plans towards self development and poverty eradication.
These are:
four development plans (5 years each)
one structural adjustment programme
two rolling plans (3 years each)
four visions and strategies.
The First National Development Plan (1962-1968), was designed to put the economy on the path of accelerated growth by prioritizing agricultural and industrial development as well as training of high-level and intermediate manpower.
The Second National Development Plan (1970-1974), through to the Third National Development Plan (1975-1980), were devoted primarily to reconstruct and rehabilitate infrastructure that were destroyed during the civil war years. This period witnessed massive investment of resources into the rehabilitation and construction of new infrastructural facilities.
There were over 2000 industrial establishments in the country. These contributed substantially to the Gross National Product. The industrial policy of the government to ban or restrict the importation of products which can be manufactured in the country will enhance the contribution of the manufacturing sector of the economy and reduce the nation’s reliance on external resources. This policy is already paying dividends judging by the number of goods now manufactured locally and the list of new industries being established or proposed.
The fourth National Development Plan was from 1981 – 1985 and it is of course the fourth of its kind by the Federal government since the country attained political independence in 1960. The Fourth National Development Plan, like the previous plans, is a deliberate instrument for harnessing the country’s national resources for the benefit of her people. It was designed to reduce the dependence of the economy on a narrow range of activities and broaden the economic base as well as develop the technological base.
The economic downturn of the early 1980’s necessitated the implementation of Economic Stabilization Measures and later the Structural Adjustment Programme (SAP), which was aimed at creating a more market-friendly economy and to encourage private enterprise through the removal of cumbersome administrative mechanisms in economic management. The economic deregulation and liberalization policies of the late 1980’s and 1990’s had the goal of fostering effective allocation of scarce resources.
Nigeria’s Vision 2010 was aimed at “transforming the country and focusing it firmly on the path to becoming a developed nation by the year 2010”. According to the document, the private sector was expected to be very active, within a market-oriented, highly competitive, broad-based, private sector-driven development process. In addition, the return of democratic governance in the country in 1999, brought along with it the introduction of a series of reforms, aimed at redressing the distortions in the economy and restoring economic growth. The National Economic Empowerment and Development Strategy (NEEDS) of 2004 were a home-grown poverty reduction, value-reorientation and socio-economic development strategy for the country.
Vision 20:2020 was launched under Obasanjo. The objective of the Vision 20:2020 is to make Nigeria one of the first 20 economics in the world by the year 2020.
Economic Recovery and Growth Plan 2017-2020.The vision of the ERGP is one of sustained inclusive growth. It has three broad strategic objectives that will help achieve the vision of inclusive growth: (1) restoring growth, (2) investing in our people, and (3) building a globally competitive economy.

All plans, programmes and visions enumerated above, were to guarantee Nigeria’s economic development. We are now in 2020! How has it farred especially the current ERGP plan?
Which of the previous one's has worked? Which one was a disaster?
Sources
https://www.casade.org/economic-development-nigeria-1914-2014/
https://statehouse.gov.ng/policy/economy/economic-recovery-and-growth-plan/
Re: Nigeria Economic Plans Since 1960: Hit Or Miss? by helinues: 7:08am On Jul 02, 2020
Vision 2020 don turn to blindness 2020

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Re: Nigeria Economic Plans Since 1960: Hit Or Miss? by orisa37: 7:18am On Jul 02, 2020
There were Budgets and Plans BUT no Budgetary Control REPORTING. So they were all MISS.

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Re: Nigeria Economic Plans Since 1960: Hit Or Miss? by ThatFairGuy1: 7:18am On Jul 02, 2020
First, second and third worked in accordance with the aim. Vision 2020 has been blurred, it failed since inception, here we are now. Without sentiment, Economy Recovery and Growth plan is working. Meanwhile OP, how will you categorize OPERATION FEED THE NATION?

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Re: Nigeria Economic Plans Since 1960: Hit Or Miss? by donbachi(m): 7:28am On Jul 02, 2020
All na zero plan.

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Re: Nigeria Economic Plans Since 1960: Hit Or Miss? by EagleNest(m): 6:01am On Aug 16, 2020
ThatFairGuy1:
First, second and third worked in accordance with the aim.
Vision 2020 has been blurred, it failed since inception, here we are now.
Without sentiment, Economy Recovery and Growth plan is working.
Meanwhile OP, how will you categorize OPERATION FEED THE NATION?

Falls within 3rd National development plan including Shagari's Green Revolution that replaced it. None were sustained!
Re: Nigeria Economic Plans Since 1960: Hit Or Miss? by Exmilitant(m): 6:31am On Aug 16, 2020
The Visions was without Missions.
Re: Nigeria Economic Plans Since 1960: Hit Or Miss? by Uchek(m): 6:41am On Aug 16, 2020
You wicked o! I fall from my chair from laughing.

helinues:
Vision 2020 don turn to blindness 2020
Re: Nigeria Economic Plans Since 1960: Hit Or Miss? by helinues: 6:43am On Aug 16, 2020
Uchek:
You wicked o! I fall from my chair from laughing.


Hahahahah.. abi now.

Any visibility progress in Nigeria?

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