The Federal Government has said that the 2021 National Development Plan will require a total of N350tn for infrastructural projects over the next five years.
The Minister of State for Finance, Budget and National Planning, Clem Agba, disclosed this on Wednesday at a media briefing ahead of the 27th Nigerian Economic Summit scheduled for October 25th to 26th.
According to the minister, the private sector will contribute a total of N300trillion between 2021 and 2025.
He added that states and the Federal Government will contribute N50 trillion, with FG bringing N30 trillion while states will contribute N20 trillion.
He said, “The National Development Plan 2021-2025 also benefited from the recommendations of the 26th summit.
“The funding requirement for the National Development Plan for 2021-2025 and the projects that have been projected is about N350tn and of this.
“N300 trillion is expected to flow in from the organized private sector in terms of investments and the government will be contributing about N50tn and the government here is the Federal and State.
“The portion of the Federal Government is N30trillion and for the states- that is the sub-nationals is N20trillion.”
Agba revealed that the 2021 National Development Plan will be Co-chaired by the founder of Stanbic IBTC Bank Plc and Anap Business Jets Limited, Atedo Peterside and Zainab Ahmed, Nigeria’s Finance Minister.