International Journal of Research and Innovation in Applied Science (IJRIAS) | Volume V, Issue III, January 2020 | ISSN 2454–6186

 An Overview of Past National Development Plans in Nigeria (1962-1985)

Dzever, D. Donald1, Ogebe, O. Francis2*, Nnama, U. Christopher3
1Lecture, Department of Agricultural Economics, Federal University of Agriculture, P.M.B 2373, Makurdi, Benue State, Nigeria
2Senior Lecturer, Department of Agricultural Economics, Federal University of Agriculture, Makudi, Benue State, Nigeria
3Lecturer, Department of Agricultural Economics, Federal University of Agriculture, Makudi, Benue State, Nigeria
*Corresponding Author

Abstract: – A critical review of the different eras of development plans revealed that much progress was made in terms of employment generation during the era of fixed medium- term planning in Nigeria. The average GDP growth rate was 5.1% during the First National Development Plan, 8.2% under the Second and 5.0% under the Third which individually exceed the almost 4% average in the pre-independence era. In the same vein the growth rate of capital formation (investment ratio) rose from an average of 14.1% under the First Plan to 26.7% in the Third. This far exceeded the 12.3% average for the pre-independence decade. The eras of the rolling plans and the democratic dispensation were the period unemployment became visible. The main policy lesson to be gleaned from the foregoing discussion is the fact that the worsening incidence of unemployment scenario in Nigeria cannot be entirely attributed to policy failures and ineffectiveness of the employment oriented programmes that were mainstreamed in the successive development plans but to the generality of the entire development plans. What is of fundamental importance at the moment is the adoption of sound monetary and fiscal measures and political will that will engender employment generation in Nigeria. The paper recommends a multi-sector approach to planning and implementation of public sector programmes, and harmonization of planning initiatives in order to reduce the problem associated with plan implementation.
Keywords: National, Development plan, Growth rate, Nigeria.