Thursday, 21 May 2020

Full statement from the first virtual National Economic Council meeting presided over by VP Osinbajo

This was released by Presidency Nigeria via its official twitter handle ;

Vice President, Professor Yemi Osnbajo chaired the first virtuall Meeting of the National Economic Council (NEC), composer of all the 36 Stated Governors , the FCT Minister , Central Bank Governor and other top government officials .

NEC resolved to ensure more effective synergy between FG and sub-nationals especially in matters related to the fallout of the COVID19 Pandemic, including hoe to effectively and efficiently reopen the Nigeria Economy after the lockdowns and shutdowns across the country .

The Council specifically decided today to set up a committee of seven to work with the Presidential Task Force on COVID19. The Committee , to be led by Delta State Governor , Dr. Ifeanyi Okowa , also includes the Governors of Lagos , Kano , Bauchi , Anambra , Plateau , and FCT Minister .

NEC also resolved to cooperate with the Economic Sustainability Committee set up by the President and chaired by the Vice President in the development of a national Economic Sustainability Plan .

Such a plan is expected to introduce a substantial stimulus package running into a couple trillion Naira , ensure that Nigeria as a country gets through the COVID19 economic challenges and in fact chart a path of growth and development for the Nigeria economy by ensuring massive productivity in several sectors including agriculture, power , infrastructure, technology and several others . To this end the NEC resolved to hold a meeting next week with the ESC.

The Council would be represented at the meeting by its earlier constituted Special COVID19 Committee . This was resolved after the Finance Minister made a Presentation.

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