“Buhari has successfully mitigated threats of COVID-19 on economy” ― APC Legacy Group

2 months ago 39

The APC Legacy Awareness and Campaign, a voluntary think-tank group of the governing party, has commended the President Muhammadu Buhari administration for what it called its prompt response to mitigate the disruptive effect of the pandemic, Coronavirus.

A statement signed by National Youth Leader of the party, Barrister Ismail Ahmed, former national publicity Secretary, Lanre Issa-Onilu and Director General of the Progressive Governors Forum, Mr. Salihu Mohammmed Lukman enumerated measures put in place “to protect the lives of our fellow Nigerians and residents living here and second, to preserve the livelihoods of workers and business owners to ensure their families get through this very difficult time in dignity and with hope and peace of mind.”

The statement recalled that the APC led administration set up an Economic Sustainability Committee chaired by the vice president, to develop a comprehensive economic stimulus plan, known as the Economic Sustainability Plan (ESP).

“The ESP,” it noted “has been widely credited with fast-tracking Nigeria’s exit from the COVID-induced recession, and as a contributor to the robust 5.1 per cent economic growth recorded in Q2 2021.

“The ESP has included a range of interventions from Payroll Support, to federal investments in renewable energy for households, to grants for artisans and transport workers, and aviation sector bailout packages.”

The APC Legacy Awareness and Campaign also listed the Poverty Reduction with Growth Strategy Implementation Committee, chaired by the vice president, to contribute to the presidential vision of lifting 100 million Nigerians out of poverty within a decade and the approval of the establishment of a 500 billion Naira COVID-19 Crisis Intervention Fund, dedicated to various programs ranging from health infrastructure upgrades to a national public works programme.

“Health infrastructure successes seen so far include the (ongoing) construction of Oxygen Production facilities in every State of the country, as well as the construction of Infectious Disease Centers.”

It further disclosed that the approval of a series of Central Bank of Nigeria (CBN) stimulus interventions, with a stimulus support package for individuals and households, which has seen total disbursements of more than 400 billion Naira so far, to over 600,000 beneficiaries.

“Another aspect of the CBN’s stimulus programme is the reduction in interest rates on CBN intervention facilities, from 9 per cent per annum to 5 pe cent, from March 1, 2020 to February 28, 2022.”

The group expressed confidence that “the administration’s economic efforts and initiatives will continue to yield fruit, and translate into inclusive growth and prosperity for all Nigerians.”

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