The Federal government says it has concluded plans to inaugurate a committee for the new economic plan in March.
The Minister of State for Budget and National Planning, Clem Agba disclosed this on Monday during a familiarisation visit of the Centre for Management Development, CMD office in Abuja.
He said that the new plan when inaugurated would improve economy, which his ministry has already started the development process.
According to him, the country requires the new economic blueprint giving that the winding down of the Economic Recovery and Growth Plan, (Government's economic blueprint for 2017-2020) this year.
The ERGP has the broad objectives of restoring growth, investing in the people and building a globally competitive economy.
The plan was designed to address the country's economic challenges and lays the foundation for economic diversification and growth.
"The core vision of the plan is one of sustained, inclusive and diversified growth. The initiatives of the Plan are directed at attaining structural economic transformation. The new economic blueprint would cover a ten year period with a five-year rolling plan
"ERGP review is currently ongoing to ascertain what has worked well and what did not. The new plan has to go beyond the ERGP, we are looking at very old plans that we have had before.
"We are already asking the MDAs to review their sector plans and we are currently receiving them with a view to consolidating them and giving them to the technical working committee to work on."
"We have to do all that we can to change the narrative, because lamentation will not help. We have to start taking those steps gradually," the minister said.