Current Economic Plans

 

Welcome to class! 

In today’s class, we will be talking about current economic plans. Enjoy the class!

Current Economic Plans

Current Economic Plans | classnotes.ng

The millennium development plans are eight international development goal that was officially established following the millennium summit of the United Nations in 2000.

OBJECTIVE OF MDGs

  • Goal 1: Eradicate extreme poverty and hunger.

Target 1: Half of the population between 1990 -2015 whose income is less than one dollar a day be reduced.

Target 2: Half of the population that suffers from hunger be reduced

  • GOAL 2: Achieve Universal Primary Education

Target 3: To ensure that by 2015 all children are enrolled and have completed primary education.

  • GOAL 3: Promote gender equality and empower women

Target 4. Eliminate gender disparity in primary and secondary education, preferably by 2005 and to all levels of education not later than 2015.

  • GOAL 4 Reduce child mortality rate.

Target 5. Reduce by two-thirds between 1990 and 2015 the under-five mortality rate.

  • GOAL 5. Improve maternal health.

Target 6. Reduce by three quarter between 1990 and 2015, the maternal mortality rate.

  • GOAL 6.Combat HIV/AIDS, malaria and other diseases.

Target 7. Have halted by 2015 and begun to reverse the spread of HIV/AIDS.

Target 8. Have halted by 2015 and begun to reverse the incidence of malaria and other major diseases.

  • GOAL 7. Ensure environmental sustainability.

Target 9. Integrate the principles of sustainable development into country policies and programmes and reverse the loss of environmental resources.

Target 10. Halve by 2015 the proportional of people without sustainable access to safe drinking water.

Target 11. By 2020 to have achieved a significant improvement in the lives of at least 100 million slum dwellers.

  • GOAL 8. Develop a global partnership for development.

Target 12. Deal comprehensively with the debt problems of developing countries through national and international measures to make debt sustainable in the long term.

Target 13. In cooperation with the private sector make available the benefits of new technologies, especially information and communication.

NATIONAL ECONOMIC EMPOWERMENT AND DEVELOPMENT STRATEGIES (NEEDS)

NEEDS is derived from the urgent requirement for value orientation, the objective of which is to sound the message clearly that is not business as usual. Therefore the bedrock of NEEDS is its vision of a Nigeria with a new set of values and principles which will facilitate the achievements of national goals of wealth creation, employment generation and poverty reduction.

OBJECTIVES OF NEEDS

NEEDS is therefore fashioning for Nigeria, a common ground for all economic agents to interplay in a healthy and sustainable manner. The objectives are mainly in threefold;

  1. Poverty Reduction
  2. Employment Generation
  3. Wealth Creation.
VISION 2020

It is stated in the document VISION 2020Economic Transformation blueprint (2009) that by the year 2020, Nigeria would have a large, strong, diversified, sustainable and competitive economy that effectively harnesses the talents and energies of its people and responsibly exploits its natural endowments guarantee a high standard of living and quality of life to its citizens. To achieve this according to the same vision statement, a Gross Domestic Product of not less than &900 billion is required.

OBJECTIVES OF VISION 2020
  1. The social dimension: It envisions an equal society that can sustain a life expectancy of at least 70 years.
  2. The economic dimension: It envisages a vibrant economy whose manufacturing sector can contribute at least 25% to Gross Domestic Product.
  3. The institutional dimension: Expects a state democracy.
  4. While the environmental dimension envisions effective management of our natural environments. It is pretty clear from the objectives that the vision 2020 is a grandiose adventure. 

 

In our next class, we will be talking about Economic Development Challenges.  We hope you enjoyed the class.

Should you have any further question, feel free to ask in the comment section below and trust us to respond as soon as possible.

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