The federal government has revealed that the Economic Sustainability Plan was implemented to save the economy from collapse.
The Minister of Works and Housing, Babatunde Fashola, who made the revelation at the weekend during the 26th National Council on Works in Port-Harcourt, Rivers States said government is intensifying efforts to overcome the economic downturn occasioned by the impact of COVID-19.
- Insurgents attack Borno town, perform adhan
- Katsina school bandits’ invasion: How we spent night inside bush – Student
In a statement by his Director, Press and Public Relations, Boade Akinola, Fashola said the impact of the disease on livelihood and the global economy led countries across the globe to design and implement measures and policies to keep their economies going and reflate them.
“The Federal Government under President Muhammadu Buhari developed the Economic Sustainability Plan in order to provide work, increase opportunities and sustain productivity with the Ministry of Works and Housing as one of the focal MDAS for the implementation of the policy,” he said.
He stated that since May 11, its biggest contractors have returned to work in 26 states in addition to maintenance work by the Federal Road Maintenance Agency (FERMA) in 92 locations.
The Minister said these contributed greatly to Nigeria’s economic recovery with an increase of 41.81 per cent in quarrying and other mineral deposits.
He added that there is an increase in wealth distribution as a result of increased economic activities and job creation in communities where construction works are going on.