Home Local FEDERAL EXECUTIVE COUNCIL APPROVES 2.3 TRILLION NAIRA ECONOMIC SUSTAINABILITY PLAN

FEDERAL EXECUTIVE COUNCIL APPROVES 2.3 TRILLION NAIRA ECONOMIC SUSTAINABILITY PLAN

FEC

The N2.3 trillion Nigeria Economic Sustainability Plan, NESP has received the approval of the Federal Executive Council, FEC.

Special Assistant to the President on Digital and New Media, Tolu Ogunlesi disclosed that the amount was approved on Wednesday in a meeting chaired by President Muhammadu Buhari.

NESP is a stimulus plan to support the Nigerian economy in the face of the disruptions and challenges of the Covid-19 pandemic.

It is a 12-month ‘Transit’ Plan between the Economic Recovery and Growth Plan, ERGP and the ERGP-successor-plan currently being worked upon.

Recall that the Committee that prepared the NESP was set up by the president and was made up of a number of Cabinet Ministers, with Vice President Prof. Yemi Osinbajo as the Chair.

Goals of the NESP include prioritizing Made-in-Nigeria content; supporting small businesses; putting money into the economy to stop it slipping into recession; as well as creating jobs.