On this day, the head of state, General Sani Abacha, inaugurated the Vision 2010 committee. It was a 250-member committee of private sector representatives, government ministers, academics, journalists, traditional rulers, trade union leaders and foreign businessmen among others. The committee, chaired by Chief Ernest Sonekan, who headed a short-lived interim national government in 1993 before Abacha seized power, was intended to move the country forward.
The terms of reference for the committee included the following:
- To define our country, its correct bearing and sense of economic, political, social and cultural direction.
- To set appropriate goals and targets and time frames for achieving our economic, political, social and cultural objectives and to propose the strategies and the institutional arrangements required to attain the set goals and targets.
- To forge a plan which will ensure that Nigeria is en route by year 2010, to becoming a developed nation in terms of economic prosperity, political stability and social harmony, and
- Propose a comprehensive plan for the country that will enable it to optimize its economic prospects and prepare it as a major economic power in the African region and the emerging market.
In order to achieve those objectives, the committee initially identified thirteen “critical success factors” that fell into four categories, viz:
- Human capital (health, education, population)
- Shared values (norms and standards, anti-corruption, openness, cooperation and managing diversity)
- Governing systems (law and order, good and stable governance)
- Global competitiveness (external environment, science, engineering and technology, competition, sustainable economic growth).
Thirteen groups were formed to address each of the critical success factors. Seventeen subcommittees were subsequently formed to address a variety of economic issues relating to macroeconomic structure, development, the real sector (encompassing agriculture, industry, trade, solid minerals, downstream and upstream petroleum) and funding/capital mobilization).
Finally thirteen subcommittees were organized to address “third wave issues” including public and privatye sector roles, mass communication, organising and building support, legal reforms, privatization, pensions savings and social security, women, labour management and industrial relations, information systems and youth development.
The committee was given up to April, 1997 to submit its final reports and recommendation.