According to Sen. Atiku Bagudu, Minister of Budget and Economic Planning, the requirement for at least $100 billion in investment, with more than 80% coming from the private sector, is a component of Nigeria’s Agenda 2050.
This was said by the Minister at the KPMG Arise TV Budget Day event held at the insights center in the KPMG Towers in Lagos.
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The Minister claims that the expected investment requirements are based on Agenda 2050, which was created by the federal government in collaboration with local, state, and federal governments as well as the private industry and civil society organizations nationwide.
He stated, “Wesub-national at a much higher rate of growth than we have been experiencing in the last decade and a half and equally we need to mobilize private capital because the agenda 2050 estimated that we need a sum of at least $100 billion with less than 20% of it coming Agendahe public sector”
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The Minister also noted the President’s determination to address issues stifling economic growth across various sectors such as agriculture, power, digital economy, energy, etc.
He mentioned that the N100 billion fund for consumer credit is an initiative in that direction.
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Addressing dormant assets in the country
Speaking further, Sen. Bagudu stated that the newly created Ministry of Finance Incorporated (MOFI) is determined to ensure that dormant public and private asset across the country are put to productive use and generate revenue for the country.
He stated assets Ministry of finance Incorporated (MOFI) has been strengthened and given clarity that all stranded assets that are not put to good use should be identified and made available for potential investors whether in partnership with the Ministry of Finance Incorporated as well as the Ministry of Petroleum Incorporated”
He noted that the proposed Ministry of Petroleum Incorporate will ensure dormant assets in the petroleum industry are put to use
