FEC approves N2.3trn stimulus plan - The Nation Nigeria

A stimulus plan of N2.3 trillion was on Wednesday approved by the Federal Executive Council to help Nigeria the national economy survive the Novel Coronavirus induced depression.

She also said the plan is a 12-month ‘Transit’ Plan between the The Economic Recovery and Growth Plan and the ERGP-successor-plan currently being worked upon. “The plan has to also support small businesses that have suffered severe impact of COVID-19 as a result of lockdowns. Specially, the hotel industry, private schools, restaurants as well as the transport sector have been very well impacted by this.

“We had also proposed in the plan to undertake growth enhancing jobs, creating infrastructure investments in roads, bridges, solar power, communications technology and several others. “The same thing for housing as well. The design is to have 300,000 houses built using standard designs that will be done by the ministry of works and housing but using strictly low cost materials. On the building sites, the plan is to have carpenters and others that will have multiplier effect on the economy.

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