Nigeria Unveils ‘Bounce Back’ Recovery Plan to Tackle Post Covid-19 Economic Woes

The Nigerian government says it would ensure that the country's economy does not suffer, as the nations of the world battle the effects of the novel Coronavirus (Covid-19).

 

In the heat of Covid-19 in Nigeria, President Muhammadu Buhari entrusted Vice President Prof. Yemi Osinbajo with the responsibility of coming up with a long term Economic Sustainability Plan that will drive the economy of the most populous black nation in the world, Nigeria, out of the ruins that the pandemic might have caused.

 

However, on Thursday June 11 in Abuja, the Committee headed by Osinbajo presented their report with the theme: "Bouncing Back" to President Buhari at Aso Rock Villa.

 

While making the presentation, Osinbajo said that the theme "Bouncing Back" reflects our beliefs that this plan will avert the impending economic headwinds and convert this crisis to victory for the Nigerian people. 

 

"As businesses confront the disruptions caused by the Coronavirus, the federal government will continue to adopt and implement practical measures to ensure projected growth is not affected by the Covid-19 disruptions," he said.

 

Timescape Magazine gathered from the Vice President’s Office that before presenting the final report of the Economic Sustainability Plan, Mr. Osinbajo and his committee sought inputs and consulted with the leadership of the National Assembly.

 

"The Vice President also interacted extensively with the State Governors which was a very robust engagement. This was done so that states can make their inputs before the final report is sent to Mr. President," a top official at the Vice President’s Office confided in Timescape Magazine early on Thursday, hours before the final presentation of the report to President Buhari.

 

“Meanwhile, Mr. Osinbajo, early this week, virtually commissioned the Zaki Biam Shared Facility in Benue State. The Zaki Biam yam market accounts for about 70 percent of the yam cultivated in Nigeria with over 200 truck-loads worth two million tubers of yam weekly.

 

"As part of the Shared Facilities Initiative of the MSMEClinics, it was my pleasure to commission the 200,000-yam capacity storage facility in Zaki Biam.

 

This Shared Facility will now boast of the following features: the 200,000-yam storage facility, 660 units of reconstructed stalls/sheds, construction of internal roads, administrative buildings, and a solar powered borehole.

 

"It is the commitment of President Buhari's administration to create a Nigeria where small businesses are nurtured and encouraged to thrive and prosper.

 

"I believe the MSME Clinics and the Shared Facilities lead us on that path," Mr. Osinbajo said.