Vice President Yemi Osinbajo, chairman of the Economic Sustainability Committee (ESC) has received reports from three sub-committees regarding economic stimulus for Nigerians during the COVID-19 pandemic.
President Muhammadu Buhari constituted the ESC on March 30th to develop a clear economic sustainability plan until 2023.
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.
Addressing State House correspondents after the ESC’s fourth meeting on Thursday at the Presidential Villa, Abuja, Minister of State, Budget and National Planning, Clem Agba said:
“ESC had its fourth meeting today with the vice president and at the meeting; three sub-committees submitted reports for review.
“These sub-committees are the Costing committee on the Forthcoming Sustainability Plan because we want to put numbers to the various programmes that we are doing.
“There is a Job Creation Committee; they also made a report and then the third committee has to with how to gradually reopen the economy. “These three committees are still doing further work based on the meeting we had today.”
“By the time they finalise, we will be making the presentations and getting approvals,’’ he said.
Agba said that the meeting would continue within the week and the coming weeks and expressed optimism that the committee would complete its assignment soon.
Other members of the ESC are Ministers of Finance, Budget and National Planning, Hajiya Zainab Ahmed, Industry, Trade and Investment, Niyi Adebayo, Labour and Employment and Chris Ngige, Works and Housing, Babatunde Fashola.
Others are the Minister of Humanitarian Affairs, Disaster Management and Social Development, Hajia Sadiya Farouq and Minister of State for Petroleum Resources, Timipre Sylva.
Also in the committee are the Group Managing Director of the Nigerian National Petroleum Corporation, Mele Kyari, the Governor of the Central Bank of Nigeria, Godwin Emefiele. The Permanent Secretary, Cabinet Office in the Office of the Secretary to the Government of the Federation, Babatunde Lawal is the Secretary of the committee.