COVID-19: FEC approves N2.3trn stimulus plan – The Punch

COVID-19: FEC approves N2.3trn stimulus plan – The Punch


Olalekan Adetayo, Abuja
The Federal Govt Council on Wednesday authorised the N2.3 trillion stimulus opinion proposed within the Nigeria Economic Sustainability Opinion designed to enhance the nation’s economic system within the face of the disruptions and challenges of the COVID-19 pandemic.
The opinion modified into once designed by a committee led by Vice-President Osinbajo.
The approval modified into once given at a digital assembly of the council presided over by the President, Predominant Popular Muhammadu Buhari (retd.).
The Minister of Finance, Funds and Nationwide Planning, Zainab Ahmed, disclosed this to Utter Dwelling correspondents on the quit of the assembly.
She said, “The total equipment that we equipped nowadays is within the sum of N2.3 trillion; N500 billion of it is some distance a stimulus equipment that is already offered for within the amended 2020 Appropriation Act. These are funds that we have sourced from particular accounts.
“We furthermore indulge in N1.2 trillion of these funds to be sourced as structured low-payment loans that are interventionary from the Central Financial institution of Nigeria as correctly as assorted development companions and institutions.
“We indulge in now N344 billion that will seemingly be sourced from bilateral and exterior sources and furthermore extra funds that we are in a position to sourced within the neighborhood.”


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