Nigeria Gets International Backing For Economic Sustainability Plan
The Nigerian Government on Thursday received international backing for its National Economic Sustainability Plan (NESP).
The endorsement of the NESG was given at a meeting the Vice President held with representatives of the international community from the United States, European Union, United Kingdom, and agencies of the United Nations, World Bank and the International Monetary Fund (IMF).
The NESP, was approved by the Federal Executive Council (FEC) on June 24, 2020, is the Nigerian Government’s
robust plan to the challenges posed by the COVID-19 pandemic.
Under the NESP, the sum of N2.3 trillion is to be spent to stimulate the economy through support for micro, small and medium enterprises (MSMEs) and the creation of jobs.
Leader of the delegation and Resident and Humanitarian Coordinator of the United Nations System in Nigeria, Edward Kallon, said Nigeria’s response to the pandemic is well planned and articulated,
He noted that interactions between with the Federal government and stakeholders would aid a smooth implementation of the plan.
Kallon and other members of the delegation commended the development and approval of the Economic Sustainability Plan, offering to assist in its implementation.
Kallon said, “We want to support the vision of (Nigerian) government in its response to the COVID-19 pandemic and the Economic Sustainability Plan gives us the opportunity.”
He added that members of the delegation will see how the international community can support the Nigerian government “with what you are doing.”
He disclosed that the delegation want to ensure there is an international alignment in support of the Nigerian government’s response.
Vice President Osinbajo welcomed the international community’s support for Nigeria’s COVID-19 response through the National Economic Sustainability Plan.
Osinbajo, who applauded the commitment of the international community to support Nigeria’s response to the COVID-19 pandemic, noted that the country will take advantage of the crisis to effect significant changes in the critical sectors of the Nigerian economy.
“I thank you for your generous comments about the Economic Sustainability Plan. We intend to implement that as closely as possible.
“We hope that when we get to some of the more technical aspects and full implementation, we will then be able to work with you and see in what areas you will be in the position to assist.
“We also look at the pandemic and post-pandemic period as a time when we can make some useful changes. We really are working towards ensuring that we take full advantage of the crisis.
“There is no question at all as to our determination to ensure that we are able to quickly surmount the challenges,” the vice president stated.
The meeting was also attended by the Minister of Industry, Trade and Investment Minister, Niyi Adebayo; the United States Ambassador to Nigeria, Mary Beth Leonard; Head of the European Union Delegation to Nigeria and ECOWAS, Ketil Karlsen; British High Commissioner to Nigeria, Catriona Laing who was represented by John Primrose, and Head of the Department for International Development (DFID) in Nigeria, Chris Pycroft.
Others include: Resident Representative of the United Nations Development Programme (UNDP) in Nigeria, Mohammed Yahya; Head of Cooperation, European Union Delegation to Nigeria and ECOWAS, Kurt Cornelius; Country Director of the World Bank in Nigeria, Shubham Chaudhuri, and Resident Representative and Chief of Mission, International Monetary Fund (IMF) in Nigeria, Jesmin Rahman, among others.