By Harry Awurumibe, Editor, Abuja Bureau
President Muhammadu Buhari has praised Nigerians for their resilience and adapting to the realities of COVID 19.
He commended the citizens this Thursday, when he received the report of the committee on Economic Sustainability Plan, submitted by Vice President, Yemi Osinbajo, who heads the committee.
The President said the emergence of coronavirus threw the entire world into serious economic crisis thus, making things difficult.
He said: “While the COVID-19 pandemic spread through our towns and cities, it continues to take a massive toll on the economy.
“This has been a trying time for those in the informal sector, which constitutes a large part of our economy, important family celebrations were held without the presence of loved ones, schools are closed and parents have had to resort to home schooling in addition to juggling other responsibilities.
“Despite all these, Nigerians have done their best and persevered. I must salute Nigerians for their resilience in adapting the realities of the covid-19 effect while also recognising the super human effort of our frontline health workers who continue to play a critical role in keeping our country and people safe.”
While noting the effects of the pandemic on the revenue and policies and programmes of government, the President said more efforts would be geared towards making life better for citizens.
Commenting on the job done by the committee that produced the Economic Sustainability Plan, President Buhari appreciated the committee’s good work, where it made some important recommendations that can serve as a national plan to the nation.
“I am pleased to hear that the Economic Sustainability committee consulted with both the National Economic Council and the National Assembly and I look forward to a continuing partnership with both organs, to implement what I consider a national plan.
“As we go forward, we must chart a new course and remain steadfast. I believe the priorities contained in this plan present a practical way of achieving our desire of a truly competitive economy that can support our people and secure our future.
“I congratulate the Economic Sustainability committee for completing this critical national assignment in good time. I believe that with God’s help and in a sense of duty to prosperity we will successfully reset our economy for a brighter future,” the President stated.
Speaking earlier, Vice President Yemi Osinbajo while presenting the report said the committee has made some recommendations as follows:
We must carry out mass programmes that create jobs and utilise local materials. Such will include: A Mass Agricultural Programme, which is expected to bring between 20,000 and 100,000 hectares of new farmland under cultivation in every State of the Federation and create millions of direct and indirect job opportunities.
Extensive Public Works and Road Construction Programme focusing on both major and rural roads and using locally available materials like limestone, cement and granite.
(iii) Mass Housing Programme to deliver up to 300,000 homes
annually, engaging young professionals and artisans who form themselves into small and medium scale businesses within the construction industry, using indigenous labour and materials.
(iv) Installation of Solar Home System, targetting 5 million households, serving about 25 million individual Nigerians who are currently not connected to the National Grid.
We have also recommended:
(i) support for local production and manufacturing of all that is possible, including tech apps, software, shoes, garments, steel fabrication, ceramics and furniture, with the required capital and essential machinery.
(ii) the provision of ample support for the informal sector through low interest loans and by easing procedures for registration, licensing, obtaining permits, etc. By these means, urban and informal business people like mechanics, tailors, artisans, and petty traders, will be encouraged to improve and develop their services.
(iii) Support for MSMEs, especially in assisting to restructure their loans with banks. Among others, this will assist businesses in the pharmaceutical, aviation, hotels and the hospitality industry, private schools, road transportation, technology companies, and the creative industry, amongst others.
(iv) Facilitation of broadband connectivity across the country and creation of a wide variety of technology and ICT jobs.
(v) Expansion of the Social Investment Programme, through an increase in the number cash transfer beneficiaries, N- Power volunteers and sundry traders enjoying small and micro loans through the MarketMoni and TraderMoni schemes. The preexisting conditional cash transfer will also be extended to cover a larger number of the extremely poor.
Osinbajo however, posited that “the key to the success of this plan is undoubtedly ‘implementation’, adding “Making sure that we execute the Plan faithfully and working in collaboration.”
