News
Osinbajo presides over 4th Economic Sustainability Committee meeting
Vice President Yemi Osinbajo Thursday presided over the meeting of the Economic Sustainability Committee (ESC) put together by President Muhammadu Buhari to address the economic fallout of the COVID-19 pandemic.
President Buhari had on March 30 set up the committee to develop a clear economic sustainability plan that would run till 2023.
The meeting which took place at the Presidential Villa, Abuja, was the committee’s fourth since its inauguration by the vice president on April 2.
Members of the committee are Ministers of Finance, Budget and National Planning, Zainab Ahmed, Industry, Trade and Investment, Niyi Adebayo, Labour and Employment, Dr. Chris Ngige, and Works and Housing, Mr. Babatunde Fashola.
Others are the Minister of Humanitarian Affairs, Disaster Management, and Social Development, Hajia Sadiya Farouq and Minister of State for Petroleum Resources, Mr. Timipre Sylva.
Also in the committee are the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mr. Mele Kyari and the Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele.
The Permanent Secretary, Cabinet Office in the Office of the Secretary to the Government of the Federation, Mr. Babatunde Lawal, is the secretary of the committee.
READ ALSO: Probe committee set up to investigate Ngala IDPs’ camp fire
The committee was tasked with identifying fiscal and monetary measures to enhance oil and non-oil revenues in order to fund the plan, develop a stimulus package and come up with measures to create more jobs while keeping existing ones.
The final report of the committee will be submitted to the President.
The International Monetary Fund (IMF) has predicted that Nigeria would go into recession to a level of -3.4 percent.
The ESC, however, said that with the plans it had put in place, Nigeria would be able to return to positive growth by 2021.
Buhari had approved an initial economic stimulus package of N500 billion for the country.
Join the conversation
Support Ripples Nigeria, hold up solutions journalism
Balanced, fearless journalism driven by data comes at huge financial costs.
As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.
If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.
Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.
INVESTIGATION: In Kwara, multimillion-naira milk processing plant is abandoned, converted to a chicken outlet
After the government spent millions of naira to establish a milk processing plant in Kwara State that would provided jobs...
SPECIAL REPORT: For Sokoto communities, promise of healthcare is akin to death sentence
In this story, ABDULRASHEED HAMMAD delves into the dire realities of Primary Health Care services in Sokoto State, shedding light...
ICYMI…SPECIAL REPORT: NNPCL hides behind PIA to frustrate disclosure, accountability
Nigeria’s major oil company, Nigerian National Petroleum Corporation Limited (NNPCL), in what appears to be a common practice of disregard...
INVESTIGATION: Multi-million naira Ekiti resort center remains uncompleted a decade after
The multimillion-naira project, expected to comprise recreational buildings, now consists of cassava farmland, a bush used for excretion, and a...
SPECIAL REPORT: Torturous experiences of students with disabilities in Oyo tertiary institutions
For students with disabilities in Oyo state-owned tertiary institutions, learning is a torturous and distressing experience, considering the building structures...