Osinbajo: Through its economic sustainability strategy, the Federal Government generated and saved 2 million jobs

By theGazetteNGR

Editorinchief

Posted: July 6, 2021 at 10:47 PM, Updated: September 21, 2022 at 7:47 AM

While a total of 2,100,021 jobs have been saved and created all together, the breakdown of the figures indicate that 1.3 million jobs have been retained through interventions in the Micro, Small and Medium Enterprises (MSMEs) space, including the Payroll Support.

Vice President Yemi Osinbajo claims that the federal government’s economic sustainability strategy has generated and saved over two million jobs (ESP).

On Monday, at a virtual meeting with the economic sustainability committee, Osinbajo stated this.

On June 24, 2020, the ESP was formed to provide COVID-19 stimulus packages to various sectors of the economy, as well as disadvantaged and vulnerable individuals, small and medium businesses (SMEs).

It was created as a way to mitigate the economic impacts of the COVID-19 lockdown.

â€œThanks to the Federal Governmentâ€™s COVID-19 stimulus package, the
Nigerian economy did not degenerate as feared and at least over 2 million jobs have been both created and saved with the implementation of

RECOMMENDED ARTICLES
Banking & Finance
NSCDC discovers $15,400 in fake money
Music
DOWNLOAD MP3: Prinzlino – Tiger in the North (EP)
Movies
Short film shot On Camon 19 Premiers On Saturday
the Economic Sustainability Plan,â€ Osinbajo said.

â€œAlthough the target of N2.3 trillion estimated to be spent under the plan has not been achieved just as yet, the Federal Government
appropriation part of that total being N500 billion has been completely
released by the end of May, making it possible to attain several
objectives of the ESP directly supporting a few million Nigerians.

â€œWhile a total of 2,100,021 jobs have been saved and created all
together, the breakdown of the figures indicate that 1.3 million jobs
have been retained through interventions in the Micro, Small and Medium
Enterprises (MSMEs) space, including the Payroll Support.

â€œThe 774,000 jobs from the Public Works Programme and 26,021 Jobs
from construction/rehabilitation projects across the country were among
those freshly created.

â€œI know that if we were able to infuse N2.3 trillion into the Nigerian economy, we will not have the employment figures that we have
today, we will not have the problems that we have today, they will be
significantly reduced.

â€œWe hope that in the next couple of weeks, we will be able to get
some good response on more funds that we expect to get from the CBN
which will help us to make some progress on the implementation.â€

Got a story?

If you’ve got a breaking news tip, celebrity story, video or pictures get in touch with the theGazetteNGR entertainment team by emailing us [email protected], calling 08051600130 or by visiting our Submit Stuff page – we’d love to hear from you.