Nigeria: Poverty Reduction Strategy Paper: National Economic Empowerment and Development Strategy
IMF Staff Country Reports, December 19, 2005
Source details
- Canonical URL
- Nigeria: Poverty Reduction Strategy Paper: National Economic Empowerment and Development Strategy
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Bibliographic details
- Published: December 19, 2005
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451828993.002
Summary
- This Poverty Reduction Strategy Paper for Nigeria highlights the National Economic Empowerment and Development Strategy (NEEDS).
- NEEDS gives special support to agriculture, industry, small and medium-scale enterprises, and oil and gas.
- Under the plan, the government will seek long-term capital for investment.
- Trade policy will be modified to unburden business of the red tape and complex procedures that hinder it from flourishing.
- NEEDS envisages forging stronger links between educational institutions and industry to stimulate rapid industrial growth and efficient exploitation of resources.
Key components and focus areas
- Agriculture
- Industry
- Small and medium-scale enterprises
- Oil and gas
- Long-term capital for investment
- Trade policy reform to reduce red tape and complex procedures
- Strengthening links between educational institutions and industry
Policy implications and objectives
- Promote rapid industrial growth through education–industry linkages.
- Facilitate efficient exploitation of resources by aligning education and industry needs.
- Encourage private sector development by simplifying trade procedures and reducing administrative burdens.
- Mobilize long-term capital to finance investment priorities.
Content in this bundle
- Cr05433