MAY 16, 2015 : SUNDAY ABORISADE 39 Comments The African Peer Review Mechanism said on Saturday that the 2011-2015 development plan initiated by the President Goodluck Jonathan administration had failed to improve the nation’s economy and the well-being of Nigerians. The five-year development plan specifically focused on three key areas, Strong, inclusive and non-inflationary growth; Employment generation and poverty alleviation, and Value re-orientation of the citizenry. But the APRM, in a statement in Abuja, said, “While the plan looked good on paper, it has not succeeded in producing significant improvement. Indeed, corruption has worsened over the past five years.” The APRM was inaugurated on 9 March 2003 by African leaders within the context of their initiative – the New Partnership for Africa’s Development – as an instrument for self-monitoring for good governance in all its ramifications. The body has, at its fulcrum, the deepening of democratic and development practices and covers four themes: Democracy and Good Political Governance, Economic Governance and Management, Corporate Governance and Socio- Economic Development. In a statement jointly signed by its Chairman, National Steering Committee of the Second Peer Review of Nigeria, Senator Ken Nnamani and Senior Fellow, Centre for Democracy and Development, Dr. Jibrin Ibrahim, the APRM described the country as “having a paradox of extreme riches as well as mass poverty.” It added that stakeholders, mainly from the third tier of government in both private and the public sectors across the country, agreed after the exercise in Abuja on Friday that inspite of its abundant rich natural resources, the country’s over-reliance on its rich oil resource base has had an adverse effect on its economy. It noted that the development had resulted in the neglect of other sectors, leading to high levels of corruption, poverty, high unemployment rates, poor infrastructure, low growth rates, and widespread insecurity and crime. The validation meeting emphasised that it was imperative that Nigeria consolidates its efforts towards diversification of the economy to reduce the impact of external shocks, and encourage private sector-led development.