The Special Adviser to the President on Media and Publicity , Mr Femi Adesina , has said the Federal Government will spend N2 .3 tn to reposition the nation’ s economy as part of the Nigeria Economic Sustainability Plan to cushion the effects of COVID – 19 .
Adesina , according to a statement on Sunday, said this in a presentation at the 2 nd Annual Conference and General Meeting of the International Islamic University Malaysia Alumni Association , Nigeria chapter, held on Saturday .
Adesina said the NESP comprised N500 bn COVID – 19 Crisis Intervention Fund meant to upgrade health facilities nationwide and finance a national Special Public Works Programme ; N1 . 1 tn structured lending from the Central Bank of Nigeria; N334 bn to be derived from external bilateral and multilateral sources ; and N302 . 9 bn from other undisclosed sources .
“ The 12 – month ‘transit ’ scheme under the NESP was developed as a successor plan to the Economic Recovery and Growth Plan . When compared to other world economies, the Nigerian economy was not as badly hit by the COVID – 19 pandemic , contrary to doomsday projections that had earlier come from the West , ” the statement quoted Adesina as saying .