COVID-19: FEC approves N2.3trn stimulus plan to support economy

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Hajiah Zainab Ahmed, Nigeria's Minister of Finance.

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The Federal Executive Council (FEC) has approved the N2.3 trillion COVID-19 stimulus plan to support the nation’s economy in view of the global pandemic.

The sum was recommended by the Economic Sustainability Committee chaired by the Vice President, Professor Yemi Osinbajo.

This was disclosed on Wednesday by the Minister of Finance, Budget and National Planning, Hajia Zainab Ahmed, at the end of the meeting.

She noted that the approval was given at a virtual meeting of the council presided over by President Muhammadu Buhari.

With this amount, The DEFENDER reports that development sectors such as agriculture and manufacturing will have cause to prove their strength in growing the nation’s economy if this gesture by the Federal Government is appropriately allocated.

The cotton-textile value chain, which is the largest employment of labour after the Federal Government, is expected to be in the consideration of this huge intervention.


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