Business
Harmonization Of APRM, 2ND NPoA Will boost MSME growth in Nigeria
Finance Minister
By Joel Ajayi
The Minister of Minister of State of Finance, Budget and National planning Prince Clem Agba has disclosed that, Harmonization and Finalization of Monitoring and Evaluation Framework For implementation of 2nd National Programme of Action NPoA) will help build a strong foundation for a concentrically diversified economy with robust MSME growth.
Minister who was represented at the occasion by the Mr. Peter Adeosun stated this on Monday in Abuja at the 5 days African Peer Review Mechanism APRM capacity building workshop for stakeholders for Harmonization and Finalization of Monitoring and Evaluation Framework for implementation of 2nd National Programme of Action NPoA).
According to him, the Plan is to ensure that Nigeria unlocks its potential in all sectors of the economy for a sustainable, holistic and inclusive national development.
“It seeks to, among others; invest massively in social infrastructure and services to alleviate poverty; establish a strong foundation for a concentrically diversified economy with robust MSME growth and a more resilient business environment; invest in critical physical, financial, digital and innovation infrastructure; and build a solid framework and enhance capacities to strengthen security and ensure good governance.
“Specifically, the Plan aims to generate 21 million full time jobs and lift 35 million people out of poverty by 2025, thus, setting the stage for achieving the current Administration’s commitment to lifting 100 million Nigerians out of poverty in 10 years.”
He added that: “the Ministry, in line with its mandate and Presidential approval, is in the process of finalizing the development of the Nigeria Agenda 2050, which is the country’s Perspective Development Plan to replace the Nigeria Vision 20:2020.
“The approach to the development process of these Plans is very unique and home-grown and took into account Nigeria’s international and regional economic commitments.
“The National Development Plan 2021-2025 for the first in our history has three volumes, which included the Policies and Strategies, coasted programs and projects as well as legal and legislatives imperatives, with the enabling laws that will be passed or amended for effective implementation of the Plans.”
“It is important to note that the APRM National Programme of Action’s (NPOA) Monitoring and Evaluation Framework is aligned with the national M&E framework in the National Development Plan, 2021-2025. I urge other stakeholders, Development Partners and MDAS to mainstream and harmonize their sectorial Plans and country strategies in line with the priorities of government as embedded in the Plan to ensure full implementation of the Plan.”
He assured that, the Ministry will continued support African Peer Review Mechanism to ensure that Nigeria delivers on her development aspirations including, bilateral, multilateral and regional economic commitments.
In her welcome addressed, the CEO, AUDA -NEPAD/APRM Nigeria Princess Gloria Akobundu commended the collaborative efforts of all stakeholders which she believe will leave a milestone in the implementation of the new (NPoA)
She said: “This program is geared towards the “Harmonization and Finalization” of the NPoA framework to address the challenges identified in the Second County Review Report (CRR) and carry out national capacity building on “Monitoring and Evaluation framework” for the effective implementation of the National Programme of Action (NPoA).
“It is, therefore, critical to engage the Implementers for better information, understating and ownership of the NPoA for effective implementation hence, the need for public sectors, MDAs, Civil Society organizations, organized private sectors, states and local government’s participation in this timely workshop.
“The primary objective of NPoA is to guide and mobilize the country’s efforts in implementing needed changes to improve its state of governance and accelerate its economic development.”
“Its therefore atmost importance that significant issues are addressed to enable full realization of the goal of the NPoA framework. Having successfully conducted the country self-assessment which produced the Country Self Assessment Report and the Country Review Report (CRR) prior to the successful validation by the Country Review Mission (CRM) led by APRM Panel of Eminent Person and Continental Secretariat, Nigeria is currently drafting its National Programme of Action taking into consideration all the APRM Panel of Eminent Person’s recommendations as well as all the overarching issues.
“The document consequently, is expected to be harmonized in line with the global SDGs 2030, AU-Agenda 2063 and Nigeria’s National Development Plan for smooth implementation in line with global best practices”
Business
Private Sector Unveils Agribusiness Investment Fund To Boost Food Security
In a groundbreaking move, the private sector has unveiled a pioneering investment fund to revolutionize Nigeria’s agricultural landscape and drive food security.
This initiative takes the form of a private sector-led Large-Scale Agribusiness Financing Programme, presented to the Federal Government as a collaborative effort to drive food sovereignty through large-scale investment in industrial agriculture.
At a high-level meeting with the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, and the CEO of Ministry of Finance Incorporated (MOFI), Dr Armstrong Takang, held in his office in Abuja, KPMG and private sector operators outlined an investment fund model designed to mobilise large-scale financing for the production and processing of critical crops, including oil palm, rice, maize, cassava, sugar, and soybean.
The proposal aligns with the administration’s vision to reduce Nigeria’s £3 billion annual food import bill by expanding mechanised farming, strengthening local refining capacity, and enhancing food security. It emphasises private sector participation, transparency, and scalability.
HM Edun and Dr Takang welcomed the initiative, reaffirming the government’s commitment to working with the private sector to unlock investment and drive sustainable agricultural transformation.
As Nigeria takes bold strides towards achieving food sovereignty, this innovative partnership between the private sector and the government marks a significant milestone in the country’s journey towards a more sustainable, self-sufficient, and prosperous future.
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