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Vision 2010 is a projected economic plan for Nigeria to improve economically. Nigeria is a lesser developed country, whose politics have been shaped by chronic military dictatorships, dependence on oil, ethnic and social cleavages, and a population too large to feed. In the creation of Vision 2010, 248 members developed plans that would hopefully guide the country out of poverty and other of these national crisises. Sub-committees worked on solving key issues needed to be resolved.
Some areas that were of concern included:
After the blueprints were drawn, implementing these strategies can be difficult. Following Abacha's death in 1998, Abdusalami Abubakar took control as Head of State. General Abubakar endorsed Vision 2010, as he had worked in the formation of the plan. Since 1946, economic plans were introduced but not very successful. There was a lack of discipline in Nigeria to carry out the needs of these plans, so they did poorly. If Vision 2010 hopes to be successful, it will require the nation as a whole to cooperate and take the initiative to look past each other's ethnic differences. To achieve Vision 2010's goals, the government must offer jobs to the people, and the people must take them. Either the entire country unifies, or it will remain poor.
Nigeria, officially the Federal Republic of Nigeria, is a country in West Africa. It is situated between the Sahel to the north and the Gulf of Guinea in the Atlantic Ocean to the south. It covers an area of 923,769 square kilometres (356,669 sq mi). With a population of more than 230 million, it is the most populous country in Africa, and the world's sixth-most populous country. Nigeria borders Niger in the north, Chad in the northeast, Cameroon in the east, and Benin in the west. Nigeria is a federal republic comprising 36 states and the Federal Capital Territory, where its capital, Abuja, is located. The largest city in Nigeria by population is Lagos, one of the largest metropolitan areas in the world and the largest in Africa.
The history of Nigeria can be traced to the earliest inhabitants whose date remains at least 13,000 BC through the early civilizations such as the Nok culture which began around 1500 BC. Numerous ancient African civilizations settled in the region that is known today as Nigeria, such as the Kingdom of Nri, the Benin Kingdom, and the Oyo Empire. Islam reached Nigeria through the Bornu Empire between and Hausa Kingdom during the 11th century, while Christianity came to Nigeria in the 15th century through Augustinian and Capuchin monks from Portugal to the Kingdom of Warri. The Songhai Empire also occupied part of the region. Through contact with Europeans, early harbour towns such as Calabar, Badagry and Bonny emerged along the coast after 1480, which did business in the transatlantic slave trade, among other things. Conflicts in the hinterland, such as the civil war in the Oyo Empire, meant that new enslaved people were constantly being "supplied".
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Nigeria had one of the world's highest economic growth rates, averaging 7.4% according to the Nigeria economic report that was released in July 2019 by the World Bank. Following the oil price collapse in 2014–2016, combined with negative production shocks, the gross domestic product (GDP) growth rate dropped to 2.7% in 2015. In 2016 during its first recession in 25 years, the economy contracted by 1.6%. Nationally, 43 percent of Nigerians live below the poverty line, while another 25 percent are vulnerable. For a country with massive wealth and a huge population to support commerce, a well-developed economy, and plenty of natural resources such as oil, the level of poverty remains unacceptable. However, poverty may have been overestimated due to the lack of information on the extremely huge informal sector of the economy, estimated at around 60% more, of the current GDP figures. As of 2018, the population growth rate is higher than the economic growth rate, leading to a slow rise in poverty. According to a 2018 report by the World Bank, almost half the population is living below the international poverty line, and unemployment peaked at 23.1%.
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