COVID-19: More than two million jobs saved, created by the Nigerian government’s stimulus plan – Osinbajo


Thanks to the federal government’s COVID-19 stimulus package, the Nigerian economy has not degenerated as feared and at least over 2 million jobs have been created and saved with the implementation of the economic sustainability plan .

Although the estimated 2.3 trillion naira target to be spent under the plan has not yet been met, the federal government’s share of this total, 500 billion naira, was fully released at the end of May. , making it possible to achieve several PES objectives directly supporting a few million Nigerians.

While a total of 2,100,021 jobs have been saved and created in total, the breakdown of the figures indicates that 1.3 million jobs have been retained through interventions in the micro, small and medium enterprise space ( MSME), including payroll support. The 774,000 jobs in the Public Works Program and the 26,021 jobs in construction / rehabilitation projects across the country were among the newly created ones.

These are some of the highlights that emerged from a virtual meeting of the Economic Sustainability Committee measuring implementation chaired by Vice President Yemi Osinbajo on Monday.

Commenting on the implementation of the PES, Osinbajo said the release of 100% of funds earmarked for the program budget was commendable and urged the Central Bank of Nigeria (CBN) to accelerate actions regarding the release of funding items. of the PES which depend on the financing of the bank.

According to the vice-president, “our budgetary funds have been released in total. I thank the Honorable Minister of Finance for ensuring that this was done quickly, which in effect means that on the budget we were able to do what we practically promised to do.

“I know that if we could inject 2.3 trillion naira into the Nigerian economy, we won’t have the jobs numbers we have today, we won’t have the problems we have today. , they will be considerably reduced. Even with what we’re able to do with the budget, the growth numbers at least indicate that things haven’t gotten as badly out of hand as many had thought.

“So you can imagine what we could have done if we were able to fully implement what we thought we could implement. Unfortunately, this was not the case. We hope that over the next two weeks we will be able to get a good response on more funds than we expect from the CBN, which will help us move forward with the implementation. “

According to a summary by the Minister of State for Budget and Planning, Clem Agba, the construction / rehabilitation of 3,707 km of federal roads through the federation under the aegis of the Federal Road Maintenance Agency (FERMA ) is 65% complete.

In the agricultural sector, more than 6 million farmers have been identified, 3.6 million have passed the first stage of validation and 2.4 million have passed the second stage of validation. The minister added that 129,000 farmers and 38,333 animal breeders have been profiled for interest-free loan support for the dry season agricultural cycle.

He added that as part of the COVID-19 intervention program for the health sector, the creation of 520 beds in intensive care units (ICU), 52 molecular laboratories and isolation centers in hospitals federal tertiary sector is 67% complete.

The Minister also indicated that 485 water points have been built / rehabilitated by the Federal Ministry of Water Resources through the federation.

Giving a summary of funding performance, Mr. Agba said that 500 billion naira representing 100% of the total budget sum had been disbursed to all ESP programs as of May 30, 2021.

Detailing the breakdown of the releases, the minister said that the economic pole had received 202.462 billion naira, which represents 100% of the credits allocated to the cluster, while 61.589 billion naira, which also represents 100% of the credits, has been released. for job creation for young people. and women.

The social intervention and support program for people of concern received 34.957 billion naira; The WASH program and energy support to vulnerable communities received 22.315 billion naira; support for building a resilient health system received 116 billion naira; support for the operations of the security forces has been valued at N15.674 billion, and the 36 states of the Federation have received N50 billion, ”the minister said.

In the aviation sector, the minister said 5 billion naira had been released to support local airlines, ground handling agents and other allied aviation companies.

According to him, “7 regular operators, including Dana, Overland, Airpeace, Azman, Aero, Arik and Max Air received 2.84 billion naira; 20 non-scheduled operators, including Cargo and Private Jet Services, received 949,909,000 N; 5 ground handling operators, including NAHCO, SAHCO, Presion Aviation, Batuke Resources Ltd and Swissport Intl Ltd received 233,333,000 N; The National Association of Nigerian Travel Agencies received 196 million naira; Airport Car Hire Association of Nigeria (ACHAN) received 196 million naira; 7 In-flight catering operators received N 233,333,000 and aviation fuel operators received N 233,333,000.

Updating the meeting on the implementation of the Agriculture for Food and Jobs plan, the technical assistant to the Minister of Agriculture and Rural Development, Andrew Kwasari, indicated that the construction of 340 km of rural roads in through the federation under the tutelage of the Federal Ministry of Agriculture and Rural Development Development (FMARD) is completed.

He added that the clearing of 3,200 hectares of land in 8 states has been completed, while the president has approved fertilizer subsidies for more than one million farmers already identified under the Agriculture for Food and Job.

For his part, the director general of the Rural Electrification Agency (REA), Ahmad Salihijo Ahmad, said that the Naija solar power program under the ESP was progressing steadily with more communities to be connected under Niger Delta Power Holding Company (NDPHC) 100,000 solar connections, among other program components.

He added that the agency as part of the Energy for All initiative has completed connecting 200 primary health care centers and 104 schools across the country to solar power with plans to connect more schools. and health centers.

As part of the social housing program, the Managing Director of the Family Homes Fund, Femi Adewole, said the program was progressing steadily as the funding agreement between the Family Homes Fund and the CBN was finalized while that the Ministry of Finance has provided the necessary guarantee for the project.

He added that the request for disbursement of 30 billion naira to finance a total of 29,600 housing units will be submitted to the CBN for processing before the end of this week.

Other members of the Economic Sustainability Committee present at the meeting included Finance Minister Zainab Ahmed; Minister of Industry, Trade and Investment, Niyi Adebayo; Minister of Works and Housing, Babatunde Fashola; Minister of Health, Osagie Ehanire; Minister of Labor and Employment, and representative of the Governor of the CBN, among other officials.

Laolu Akande
Senior Special Assistant to the President on Media and Advertising
Office of the Vice-President

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