BREAKING: Federal Govt Approves 2.3 Trillion Economy Stimulus

by on June 24, 2020

The Nigeria Economic Sustainability Plan (NESP) has today been approved by the Federal Executive Council (FEC), according to Tolu Ogunlesi, Special Assistant on Digital and New Media to President Muhammadu Buhari.

NESP is a 2.3 Trillion Naira stimulus plan “to support the Nigerian economy in the face of the disruptions and challenges of the Covid-19 pandemic”– Tolu Ogunlesi.

The Committee for the preparation of NESP was set up by President Buhari, and chaired by Vice President Professor Yemi Osinbajo.

The Committee’s ranks also included a number of Cabinet Ministers, and held extensive consultations with NASS, EAC, and State Governors.

Goals of the NESP according to the Federal Government:

  • Create jobs
  • Put money into the economy in order to halt recession
  • Support small businesses
  • Prioritize local content (Made-in-Nig)

The NESP is a 12-month ‘Transit’ Plan between the ERGP and the ERGP-successor-plan currently being worked upon.

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