Nurturing the mustard seeds in the NEEDS: a framework for sustainable economic development.

Abstract

The paper examines the National Economic Empowerment and Development Strategy (NEEDS), Nigeria's medium term Poverty Reduction Strategy Programme (PRSP), which aims at reducing poverty, creating wealth, generating employment, and value reorientation. It appraised the strategies adopted for developing the informal sector, identified as the economy's engine of growth. The paper highlighted that to make the required difference; NEED's approach must stress more on the complete overhaul of informal sector activities, including their modus operandi, and integrate their activities into a national development framework. A blueprint for growing the economy via the informal sector based on measurable, targeted and time-bound-phased-implementation approach was therefore advocated.