MASS HOUSING AND ROAD CONSTRUCTION WILL SAVE NIGERIA FROM RECESSION

The Economic Sustainability Committee (ESC) – an inter-ministerial committee headed by Nigeria’s Vice President Yemi Osinbajo is recommending mass housing and roads construction in the post COVID-19 era. This will form part of strategies to save Nigeria’s oil-dependent economy from slipping into recession post pandemic. The crashing of oil prices in the global market combined with COVID-19 is forcing the Giant of Africa to ‘think outside the box’.

The committee believes this strategy will keep the economy going and will create new jobs in the process. 

“The big plan of government is to find a way for us to be able to do mass housing, increase agricultural production, ensure massive local productivity by among several other options, increasing support to MSMEs, and majorly improve avenues to put more cash in the hands of our people and also make them productive,” the VP noted.

This was the view of Vice President Yemi Osinbajo, SAN, during the inaugural meeting of the Economic Sustainability Committee.

Source: BusinessDay | State House