Vice-President Yemi Osinbajo says the federal government
created and saved over two million jobs through its economic sustainability
plan (ESP).
Osinbajo said this during a virtual meeting with the
economic sustainability committee on Monday.
The ESP was established on June 24, 2020 to offer COVID-19
stimulus packages to various sectors of the economy as well as poor and
vulnerable groups, small and medium enterprises (SMEs).
It was developed as a means to cushion the effects of the
COVID-19 lockdown on the economy.
“Thanks to the
Federal Government’s COVID-19 stimulus package, the Nigerian economy did not
degenerate as feared and at least over 2 million jobs have been both created
and saved with the implementation of the Economic Sustainability Plan,”
Osinbajo said.
“Although the target of N2.3 trillion estimated to be spent
under the plan has not been achieved just as yet, the Federal Government
appropriation part of that total being N500 billion has been completely
released by the end of May, making it possible to attain several objectives of
the ESP directly supporting a few million Nigerians.
“While a total of 2,100,021 jobs have been saved and created
all together, the breakdown of the figures indicate that 1.3 million jobs have
been retained through interventions in the Micro, Small and Medium Enterprises
(MSMEs) space, including the Payroll Support.
“The 774,000 jobs
from the Public Works Programme and 26,021 Jobs from
construction/rehabilitation projects across the country were among those freshly
created.
“I know that if we were able to infuse N2.3 trillion into
the Nigerian economy, we will not have the employment figures that we have
today, we will not have the problems that we have today, they will be
significantly reduced.
“We hope that in the next couple of weeks, we will be able
to get some good response on more funds that we expect to get from the CBN
which will help us to make some progress on the implementation.”
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