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As Nigeria released its 2020 national planning document, the Federal Government said it will require an electricity power generation of 35,000 megawatt to be able to realize Vision 2020.
The target of the country to produce the stated megawatt was contained in a Draft Copy of the Nigeria Vision 20: 2020 (NV20: 2020) Economic Transformation Blueprint obtained in Abuja.
Vision 2020 is the dream of Nigeria becoming one of the 20 leading economies of the world by 2020.
The Federal Government had set for the nation, a target of 6000 MW by December 31, 2009, which it failed to realize.
Currently, electricity power generation stood at about 3,500 MW, which is ten times less than the ambitious 35,000 MW target. The implication is that the Federal Government will have to generate more than 3,500 MW annually for a period of less than 10 years, ending in 2020, to be able to realize the Vision.
The Federal Government had said in the draft NV 20: 2020 document, that in order to realize Vision, it will enable “the power sector to deliver sustainable adequate, qualitative, reliable and affordable power in a deregulated market, while optimizing the on- and off-grid energy mix.”
To meet the power generation target by the envisaged year, it is expected that the electricity supply industry will be private sector-led with the government providing an appropriate legal and regulatory environment for private capital investment.
The Federal Government is also expected to tackle corruption seriously as it steers the ship of the nation to be point of being among the first 20 economies of the world.
The draft document revealed that “NV20:2020 aims to stamp out corruption from Nigeria and improve Nigeria’s ranking on the corruption perception index to 60 by 2015 and 40 by 2020.”
Essentially, the document revealed that, NV20: 2020 is hinged on three pillars, which are “guaranteeing the productivity and wellbeing of our people; optimizing the key sources of economic growth; and fostering sustainable social and economic development.
Minister of National Planning, Dr. Shamsuddeen Usman said weekend at the Inauguration of the Joint Planning Committee (JPC) for forthcoming 16th Nigeria Economic Summit said the final copy of Vision 2020 had been ready since October last year.
He however added that, the formal launch had not been done because the late President Umaru Musa Yar’Adua wanted to take it to the Council of States after the Federal Economic Council had approved it.
“It was just out of respect that late President Umaru Musa Yar’Adua wanted to take it to the Council of States after approval by FEC, and it’s being considered by the National Economic Council. He wanted to take it to the Council of States, not for information, because the Council of States is an Executive Council… Jonathan is preparing to do that, after which the document will be formally launched,” Usman said.
Usman noted that NV20:2020 Economic Transformation Blueprint had been developed with the active involvement of stakeholders from the three tiers of government and the private sector including members of the Nigeria Economic Summit Group and the donor community.
As Nigeria released its 2020 national planning document, the Federal Government said it will require an electricity power generation of 35,000 megawatt to be able to realize Vision 2020.
The target of the country to produce the stated megawatt was contained in a Draft Copy of the Nigeria Vision 20: 2020 (NV20: 2020) Economic Transformation Blueprint obtained in Abuja.
Vision 2020 is the dream of Nigeria becoming one of the 20 leading economies of the world by 2020.
The Federal Government had set for the nation, a target of 6000 MW by December 31, 2009, which it failed to realize.
Currently, electricity power generation stood at about 3,500 MW, which is ten times less than the ambitious 35,000 MW target. The implication is that the Federal Government will have to generate more than 3,500 MW annually for a period of less than 10 years, ending in 2020, to be able to realize the Vision.
The Federal Government had said in the draft NV 20: 2020 document, that in order to realize Vision, it will enable “the power sector to deliver sustainable adequate, qualitative, reliable and affordable power in a deregulated market, while optimizing the on- and off-grid energy mix.”
To meet the power generation target by the envisaged year, it is expected that the electricity supply industry will be private sector-led with the government providing an appropriate legal and regulatory environment for private capital investment.
The Federal Government is also expected to tackle corruption seriously as it steers the ship of the nation to be point of being among the first 20 economies of the world.
The draft document revealed that “NV20:2020 aims to stamp out corruption from Nigeria and improve Nigeria’s ranking on the corruption perception index to 60 by 2015 and 40 by 2020.”
Essentially, the document revealed that, NV20: 2020 is hinged on three pillars, which are “guaranteeing the productivity and wellbeing of our people; optimizing the key sources of economic growth; and fostering sustainable social and economic development.
Minister of National Planning, Dr. Shamsuddeen Usman said weekend at the Inauguration of the Joint Planning Committee (JPC) for forthcoming 16th Nigeria Economic Summit said the final copy of Vision 2020 had been ready since October last year.
He however added that, the formal launch had not been done because the late President Umaru Musa Yar’Adua wanted to take it to the Council of States after the Federal Economic Council had approved it.
“It was just out of respect that late President Umaru Musa Yar’Adua wanted to take it to the Council of States after approval by FEC, and it’s being considered by the National Economic Council. He wanted to take it to the Council of States, not for information, because the Council of States is an Executive Council… Jonathan is preparing to do that, after which the document will be formally launched,” Usman said.
Usman noted that NV20:2020 Economic Transformation Blueprint had been developed with the active involvement of stakeholders from the three tiers of government and the private sector including members of the Nigeria Economic Summit Group and the donor community.
