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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
Bibliography: Legislation on-line Legislation on-line FAOLEX Database, Food and Agriculture Organization of the United Nations PDF 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.

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