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Federal Government Finally Unveils Grand Plan to Revamp the Ailing Economy
Posted by George on Wed 23rd Mar, 2016 - tori.ngThe two-day National Economic Retreat has ended with an unveiled plan by the Minister of Finance and other responsible authorities to ameliorate the state of the economy.
Kemi Adeosun
The Federal Government has resolved to release N350bn into the economy, which has been battered by the sharp drop in the price of crude oil in the global market, as parts of measures aimed at stabilising it, according to the Punch.
This is one of the outcomes of a two-day retreat organised by the National Economic Council chaired by Vice President Yemi Osinbajo at the Presidential Villa, Abuja.
The governors of Zamfara and Anambra states, Abdulaziz Yari and Willie Obiano; Minister of Budget and National Planning, Senator Udo Udoma; and his Finance counterpart, Mrs. Kemi Adeosun, read the retreat’s communique to State House correspondents at the end of the programme.
Adeosun expressed the conviction that the money, which would be released by her ministry in the coming months, would restore significant economic activities in the country.
She said for contractors to benefit from the fund, they must show proof of the number of Nigerians that would be re-engaged.
Adeosun said, “From the Ministry of Finance, in anticipation of the approval of the budget, we have virtually lined up about N350bn, which we will be pumping into the Nigerian economy in the forthcoming months.
“We explained our rationale and the processes that we have put in place to ensure that this money actually achieves the desired objective, which is to stimulate the economy. We are already discussing with some of the contractors who will be paid this money, and the objectives from the overall criteria is the number of Nigerians that will be re-engaged.
“We are specifically looking at contractors who have laid off staff and how many Nigerians they are going to put back to work as a result of this money that we are planning to release, and we believe that this will bring significant economic activity.”
The minister said participants at the retreat called on state governors to reduce the number of their political appointees, including commissioners, as much as possible.
This is one of the outcomes of a two-day retreat organised by the National Economic Council chaired by Vice President Yemi Osinbajo at the Presidential Villa, Abuja.
The governors of Zamfara and Anambra states, Abdulaziz Yari and Willie Obiano; Minister of Budget and National Planning, Senator Udo Udoma; and his Finance counterpart, Mrs. Kemi Adeosun, read the retreat’s communique to State House correspondents at the end of the programme.
Adeosun expressed the conviction that the money, which would be released by her ministry in the coming months, would restore significant economic activities in the country.
She said for contractors to benefit from the fund, they must show proof of the number of Nigerians that would be re-engaged.
Adeosun said, “From the Ministry of Finance, in anticipation of the approval of the budget, we have virtually lined up about N350bn, which we will be pumping into the Nigerian economy in the forthcoming months.
“We explained our rationale and the processes that we have put in place to ensure that this money actually achieves the desired objective, which is to stimulate the economy. We are already discussing with some of the contractors who will be paid this money, and the objectives from the overall criteria is the number of Nigerians that will be re-engaged.
“We are specifically looking at contractors who have laid off staff and how many Nigerians they are going to put back to work as a result of this money that we are planning to release, and we believe that this will bring significant economic activity.”
The minister said participants at the retreat called on state governors to reduce the number of their political appointees, including commissioners, as much as possible.
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