BREAKING: Economic Sustainability Plan (NESP) was earlier today approved by the Federal Executive Council

The Yemi Osinbajo-led Nigeria Economic Sustainability Plan (NESP) was earlier today approved by the Federal Executive Council (FEC). 

The NESP is a 2.3 Trillion Naira stimulus plan to mitigate the ongoing economic challenges occasioned by the historic COVID-19 pandemic.

The Committee that prepared the NESP was set up by President Buhari, and chaired by Vice President Prof. Yemi Osinbajo, SAN, Made up of a number of Cabinet Ministers, and held extensive consultations with NASS, EAC, and State Governors.

Goals of the NESP:

- Create jobs

- Put money into the economy to hopefully stop it slipping into recession, 

- Support small businesses 

- Prioritize local content (Made-in-Nig)

The NESP is a 12-month ‘Transit’ Plan between the ERGP & the ERGP-successor-plan currently being worked upon.