WHAT YOU NEED TO KNOW ABOUT THE NIGERIA ECONOMIC SUSTAINABILITY PLAN (NESP)
#Thread
- Development of a Plan that responds robustly and appropriately to the challenges posed by the COVID-19 pandemic
- Identification of fiscal measures to enhance oil and non-oil government revenues and reduce non-essential spending
- Articulation of specific measures to support the 36 States and the FCT, and very importantly,
- Support for MSMEs and the creation of jobs.
• 500 billion Naira from Special FGN Accounts
• 1.1 trillion Naira from the CBN in the form of structured lending
• 334 billion Naira from external bilateral/multilateral sources
• 302.9 billion Naira from other funding sources
- Local Content & Self-Reliance (based on President Buhari’s mantra to “produce what we eat & consume what we produce.”)
- Economic Stimulation
- Job Preservation & Creation
- Pro-Poor/Vulnerable focus
1. Mass Agricultural Programme (MAP)
2. Infrastructure
a. Extensive Public Works and Road Construction Programme
b. Mass Housing Programme (MHP)
c. Installation of Solar Home Home System(SHS)
d. Investment in Healthcare Infrastructure.
4. Business Support for MSMEs
5. Technology
6. Expansion of @NSIP_NG
7. Cut Non-essential Spending
8. Support for State Governments