FG Unveils Plans to Confront Recession
The Federal Government has pledged to inject N14 billion monthly into the economy as part of efforts to leverage women and youths capacities during the current national economic recession.
On measures put in place by the President Muhammadu Buhari administration to increase capacities during recession, the Secretary to the Federal Government (SGF), Mr Babachir Lawal, said with the 40 per cent provision for capital projects the economy will experience substantial increase in employment rate.
He said the federal government engagement of 500, 000 youths in teaching and the farmers’ outreach scheme in various states and local governments will stimulate more than 10 million new employments.
“We are also giving out fresh loans to market women in cooperatives to ginger their business capacities. It then means that substantial amount of seed capital will flow into the economy,” he said
The SFG further revealed that the federal government has increased allocations to the MDAs to speed up the implementation of the budget, adding that a lot of the monies earlier used for importation will now be channeled into boosting local production.
“I can assure you that bumper harvest is expected this year due to efforts being implemented by President Buhari in the agriculture sector,” he said.
He also appealed to media owners to assist the federal government in disseminating information regarding programmes of government and to avoid the promotion of ethnic and regional interests above Nigeria.
