NATLEX
Database of national labour, social security and related human rights legislation
Nigeria (246) >
| Name: | Economic Sustainability Plan, 2020. |
| Country: | Nigeria |
| Subject(s): | Economic and social policy |
| Type of legislation: | Miscellaneous (circular, directive, legal notice, instruction, etc.) |
| Adopted on: | 2020-06-24 |
| Entry into force: | |
| ISN: | NGA-2020-M-112596 |
| Link: | https://www.ilo.org/dyn/natlex/natlex4.detail?p_isn=112596&p_lang=en |
| Bibliography: | Legislation on-line  FAOLEX Database, Food and Agriculture Organization of the United Nations PDF (consulted on 2022-03-15) |
| Abstract/Citation: | Due to the health and economic emergencies caused by the Covid-19 pandemic, the Economic Sustainability Committee was established on 30 March 2020. Their terms of reference were to: (i) Develop a clear Economic Sustainability Plan in response to challenges posed by the COVID-19 Pandemic; (ii) Identify fiscal measures for enhancing distributable oil and gas revenue, increasing non-oil revenues and reducing non- essential spending, towards securing sufficient resources to fund the plan; (iii) Propose monetary policy measures in support of the Plan; (iv) Provide a Fiscal/Monetary Stimulus Package, including support to private businesses (with emphasis on strategic sectors most affected by the pandemic) and vulnerable segments of the population; (v) Articulate specific measures to support the States and FCT; (vi) Propose a clear-cut strategy to keep existing jobs and create opportunities for new ones; and (vii) Identify measures that may require legislative support to deliver the Plan. |