The Vice President, Prof. Yemi Osinbajo has said that the Federal Government is creating a “payroll support” for private school teachers and artisans to cushion the untoward economic effect of the COVID-19 pandemic on them.
Speaking at the ongoing 60th Annual General Conference of the Nigerian Bar Association, the VP stated that the Federal Government had secured land in 11 states of the federation to build thousands of two-bedroom apartments for Nigerians at the cost of N2m each.
The vice president said the Federal Government’s efforts were geared towards saving jobs and creating new ones amid the pandemic.
Osinbajo said, “Through the Economic Sustainability Plan, the FG’s focus is to save jobs and create new ones. Similarly, there is a survival fund and payroll support for artisans, private schoolteachers and small businesses.
“We are currently compiling the data, the criteria is already set. There are plans also for other sectors including the hospitality and aviation sector.”
On the Federal Government’s housing plan, Osinbajo said, “These houses are to be built by young engineers, architects and artisans. We hope to build thousands of two-bedroom apartments for about N2m each.”
Osinbajo said despite the decline, Nigeria’s economy had fared better than some other countries.
“Economics like politics is local. In comparison to other economies we have fared better. We, however, recognise that there is a severe decline. The Economic Sustainability Plan is our response to that and we will focus on local industry, local resources and local production,” he said.