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Sustainable Development Cases in Africa Chapter j 23 485

Reproduced from Government of Nigeria, 2009. Vision 20:2020. Economic Transformation
Blueprint. Retrieved from: http://www.nationalplanning.gov.ng/index.php/national-plans/nv20-
2020.
These would be achieved through a series of policy reforms to create a
stable economic platform. The areas to be addressed included revenue allo-
cation, corruption, investment in critical infrastructure, private-sector-powered
nonoil growth for economic diversification, investment in human capital to
enhance competitiveness, national security threats, and social equity from the
national to the subnational level. The following table outlines the specific
hindrances to sustainable growth and development that the government is
looking to address in the Vision 20:2020.

Issue Details
Poor and Decaying l Transportation systems within Nigeria remain largely
Infrastructure underdeveloped
l The intermodal system has not been developed creating
challenges moving goods and people
l Telecommunications access remains sporadic
Epileptic Power Supply l Inadequate generation
l Inefficient transmission and distribution
Weak Fiscal and l Need to stop fiscal federalism and ways and means of
Monetary Policy financing
Coordination
Fiscal Dominance l Public sector borrowing crowds out of private sector
participation due to hindered financing
l Banks become more risk averse when lending
Pervasive Rent Seeking l Causes distortion of price signals that result in favoring of
and Corruption short-term and speculative investments
l This is not conducive to long-term sector growth
l Economic growth and poverty reduction cannot be attained
in this environment