With Wednesday’s approval of the N2.3 trillion Nigeria Economic Sustainability Plan by the Federal Executive Council, the Federal Government has stopped what it called non-critical and administrative capital spending, including the purchase of vehicles.
The Special Adviser to the President on Media and Publicity, Femi Adesina, disclosed this in a document tagged, “What you need to know about the Nigeria Economic Sustainability Plan” made available to journalists in Abuja on Thursday.
The plan was developed by the Economic Sustainability Committee chaired by Vice-President Yemi Osinbajo and established by the President, Major General Muhammadu Buhari (retd.), earlier in March. It was designed to support the nation’s economy in the face of the disruptions and challenges of the COVID-19 pandemic.
Adesina listed eight key interventions as stated in the plan to include mass agricultural programme, infrastructure, informal sector support, business support for MSMEs, technology, expansion of National Social Investment Programmes, cut non-essential spending and support for state governments.
As part of ways to cut non-essential spending, Adesina said only ambulances, fire-fighting vehicles and other essentials are exempted from the ban on the purchase of vehicles.