Broadcast to the Nation: by his excellency major-general J. T. U. Aguiyi-Ironsi head of the national military government and supreme commander of the armed forces
Date
1966-05-24
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Publisher
Lagos State: The Government Printer. Government Press
Abstract
Description
The main objectives of the next Plan will be a high overall rate of growth with a view to achieving"self-sustained growth" before the end of the Perspective Plan ; the rapid industriali sation of the economy; increased production of food for domestic consumption without relaxing efforts in the export sector, and drastic reduction in the magnitude of the present unemployment problem. Other objectives include increased diversification of the economy, a more equitable distribution of incomes among persons and the maintenance of a reasonable measure of stability through appropriate instruments of policy. As it is realised that all these specified objectives are not entirely consistent, efforts will be made to strikea reasonable balance between them. A high rate of growth is, however, regarded as the most important objective of the Plan, so that in most cases a high priority will be accorded to projects capable of generating a high growth rate. Accordingly, in the allocation of investment during the next Plan, agriculture and industry will be given high priority while social and administrative sectors will be given a low priority since some of these have already claimed more than is proportionately due to them under the current Plan.