Juliana Taiwo-Obalonye, Abuja
The Federal Government said, yesterday, that the COVID-19 pandemic has deepened the poverty situation in the country as well the economic distortions and hardship daily.
He, therefore, said it was important for relevant ministers and other key actors to expedite action on the N2.3 trillion stimulus package designed by the government to mitigate the effect of the crisis on the economy.
He said this in his presentation on the Economic Sustainability Plan at the just concluded First Year Ministerial Performance Review Retreat at the Presidential Villa, Abuja.
A statement by his media aide, Laolu Akande, quoted Osinbajo as saying: “We are already in Day 67 since the plan. Nothing is going to happen by magic, we have to simply do this stuff. We have to ensure that we have the money and ensure that day by day, we are measuring our achievements and trying to ensure that we do the things that we need to do. And we simply are not favoured by time, every single day the poverty situation and the economic distortions deepen.”
Osinbajo further said the only way out of the current problem was to fund production, enable consumer spending so that people can go and buy things, and we to put money in people’s hands.He said under the mass agriculture programme, the government has enumerated four million farmers.
He explained that government will build 300,000 homes across the country and ensure their prices did not exceed N2 million. Osinbajo said all the components of the plan were designed to create jobs.
“Agriculture requiring N637.2 billion funding will provide 5,000,000 jobs; the solar power project funding requirement is N152.4 billion is expected to provide 250,000 jobs; the mass housing programme with a funding requirement of N217.3bn is expected to create 1,500,000 jobs; while public works funding is N52bn to provide 774,000 jobs: and N100bn is required to provide 500, 000 jobs in the SMEs,” he said.
He said if implemented properly, the plan was capable of turning the nation’s economic fortunes around.
Meanwhile, President Muhammadu Buhari has ordered Ministers, Departments and Agencies, to go on the offensive and defend the achievements of his administration, and not allow political opponents spread falsehood.
This is even as he has ordered speedy release of N2.3 trillion stimulus funds by the Ministry of Finance, Budget and National planning to MDAs and for capital projects.
President Buhari said: “I have charged all of you to defend the government vigorously and not allow any irresponsible and politically motivated statements to keep spreading falsehoods about this government. Information to the public should be better packaged, go on the offensive, we are proud of our achievements and we should blow our own trumpets.”
The president reiterated that meeting requests should be made through the Chief of Staff, Ibrahim Gambari, while all cabinet matters should be channeled through the Secretary to the Government of the Federation, Boss Mustapha.
“Let me also reiterate that all submissions for my attention or meeting requests should be channeled through the chief of staff, while all Federal Executive Council matters should be coordinated through the secretary to the government of the federation.”
On speedy release of funds for capital projects, he said: “I have directed the minister of finance, budget and national planning, the governor of the Central bank of Nigeria and all other responsible agencies to ensure speedy and timely release of funds to MDAs for implementation of the N2.3 trillion economic sustainability plan and the capital projects in the 2020 budget.