Nigeria is injecting the sum of N2.3 trillion to stimulate its economy, in view of covid-19 pandemic.
The country’s Executive Council also called FEC on Wednesday approved the N2.3 trillion sustainability package, recommended by the Economic Sustainability Committee chaired by Vice-President Yemi Osinbajo, to revamp the economy.
It also approved N122.280billion billion to build seven roads in different parts of the country and another N14.90 billion for the award of contracts for 11 ecological projects in the six geopolitical zones.
It would be recalled that President Muhammadu Buhari set up the Osinbajo committee on March 30 to come up with an economic sustainability plan as a response to challenges posed to the economy by the COVID-19 pandemic.
The Minister of Finance and Budget Planning Mrs. Zainab Ahmed who made the disclosure while briefing State House correspondents in Abuja after the FEC meeting said the council approved the report containing the N2.3trillion package as NESP.
She said the package is a 12-month plan meant to create jobs, ensure a flow of liquidity in the economy, support small and medium enterprises and prioritise local content with the overall intention of saving the economy from sliding into recession.