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N2.3trn ESP: FG incorporate state Governors in implementation committee

The Federal Government will incorporate state governors in the implementation committees to drive its N2.3 trillion Economic Sustainability Plan.

Vice President Yemi Osinbajo conveyed the Federal Government’s position to the governors while presiding over a virtual meeting of the National Economic Council on Thursday, according to a statement by the media aide to the vice president, Laolu Akande.
State governors had at the virtual meeting requested to join in the membership of the Economic Sustainability Committee as the implementation of the sustainability plan proceeds.

The governors made a presentation at the NEC on how the states can collaborate effectively with the Federal Government on the implementation of the recently approved N2.3 trillion stimulus programme.

“Two state governors could join the Committee for the implementation phase of the plan,” Akande said in the statement. He said such would be helpful and bring synergy.

Governors welcomed the plan and committed to working with the Federal Government.

State governments will also be actively involved in the process of executing projects in the plan, especially such projects based in the domains of respective states, in collaboration with other stakeholders and partners.

It would be recalled that while receiving the report of the Economic Sustainability Committee, President Muhammadu Buhari had described it as a National Plan which has gone through wide consultations.

Briefing journalists at the end of the meeting, Kaduna State Governor, Nasir El-rufai, who is also the chairman of the NGF adhoc committee on the collaborative implementation of the NESP, commended the Osinbajo-led ESC for a job well-done and noted that state governors were committed to the successful implementation of the plan.

Specifically, El-rufai said: “In agriculture, each state is to make available 20 hectares of land for cultivation and with the contribution of lands from States, he added that governors will appreciate land clearance as an incentive.

“In mass housing, NEC welcomes the plan to build 300,000 housing units across the country with an average of ten thousand homes per state.”

El-rufai also called for a nationwide mortgage system to support the plan.

The Minister of Finance, Budget and National Planning, Zainab Ahmed, presented reports on the 2021 to 2023 Medium Term Expenditure Framework (MTEF).

She presented the balances in the underlisted accounts as follows: Excess Crude Account (ECA) balance as at 7th July 2020, $ 72,406,952.48; Stabilization Account Balance as at 7th July 2020, N40, 310,991,995.15; Natural Resources Development Fund Account balance as at 7th July 2020 was put at N131,598,414,041.89.

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