FORTH NATIONAL DEVELOPMENT PLAN (1981-85)
The fourth national development plan was launched in 1981 to cover the period 1981-85. It was intended to further the process of establishing a solid base for the long-term economic and social development of Nigeria. Emphasis was consequently placed on key sectors such as agriculture, manufacturing, education and manpower development, and infrastructural facilities.
The fourth plan exhibited several exhibiting features. It was the first plan to be formulated by a democratically elected government under a new constitution based on the presidential system of government. Secondly, the plan was considerably bigger than the pas t ones with a projected. Capital expenditure of about N82 billion also it was the first plan in which the local government participated in their own right following their constitutional position as a distinct level of government with specific responsibilities. The specific objectives set for the fourth plan period were as follows:
i. Increase in the real income of the average citizen
ii. More even distribution of income among individuals and socio-economic groups.
iii. Reduction in the level of unemployment and under employment
iv. Increase the supply of skilled manpower
v. Reduction of the dependence of the economy on a narrow range of activities.
vi. Balance development; that is the achievement of a balance in the development of the different sectors of the economy and the various geographical areas of the country.
vii. Increased participation by citizens in the ownership and management of productive enterprises.
viii. Greater self-reliance, that is, increased dependence on local resources in seeking to achieve the various objectives of the society.
ix. Development of technology
x. Increase in productivity.
xi. The promotion of a new national orientation conductive to greater discipline, better attitude to work and cleaner environment.
No sooner was the plan launched in 1981, and then the world oil market weakened. By 1983, the level of Nigeria's oil dropped substantially from 2.1millon barrels per day in February 1983. The plan therefore had to be reviewed in 1984 in view of the sharp decline in the resources available for its implementation. The performance of the economy during the fourth plan period was however generally poor; various projects which had been stated for execution during the period were in most cases under funded as a result of the financial crisis resulting from development in the other sectors of the economy had predicted.