The Economic Sustainability Committee chaired by Vice-President Yemi Osinbajo on Thursday submitted its report to President Muhammadu Buhari recommending that the government embarks on mass job creation to cushion the effect of COVID-19 pandemic.
Buhari set up the committee on March 30, 2020, in response to what was then becoming a threat of the most severe economic downturn in the country’s history, largely caused by the pandemic.
Its terms of reference include to develop a clear economic sustainability plan in response to challenges posed by the COVID-19 pandemic; to propose monetary policy measures in support of the plan; and to provide a fiscal/monetary stimulus package, including support to private businesses and vulnerable segments of the population among others.
Presenting the report to Buhari at the Presidential Villa, Abuja, Osinbajo said the committee recommended that the government put in place mass programmes that can create jobs and utilise local materials. He said, “We have therefore recommended that we must carry out mass programmes that create jobs and utilise local materials.