Buhari approves N2.6 trillion economic sustainability plan

The Federal Government has approved N2.6 trillion economic sustainability plan to boost local productions, sciences and innovations for the local manufacturers in the country.

President Muhammadu Buhari announced this, on Thursday, during the virtual commissioning of the 17-storey building of the Nigerian Content Development and Monitoring Board, NCDMB tower in Yenagoa, Bayelsa State.

The president who expressed his administration commitment in encouraging local content and ensure job creation among the people, commended the Executive Secretary of NCDMB, Engr. Simbi Wabote and his team for the completion of the project.

He said two of the executive orders which his administration signed are related to enforcement of local content and promote local purchase of oil and gas equipment.

According to him, the completion of NCDMB tower, which has the 17-storey building, 1000 seated conference hall, multi-level car park, shows the commitment of his administration in the infrastructural renaissance.

ALSO READ: Why containers fall on motorists in Lagos ― NPA MD

He said: “This project during its construction had generated direct jobs to our teeming youths, and with the commissioning today, it brings to the fore our zeal in empowering our citizens and give them the opportunity to grow in their business endeavours.

“That is why two of the executive orders under our government are related enforcement of local contents, we have recently approved N2.6 trillion economy sustainability plan, the plan is aimed at promoting local production, sciences and innovations.

“The impact of the pandemic has further shown that we have to produce what we eat, and make export. All these policies directives and programmes are also meant to address some of the causative factors of insecurity and provide employment opportunities for our citizens. It also helps businesses to compete, compete and grow our social means of livelihood,” he said.

Minister of State for Petroleum, Chief Timipre Sylva, said the completion and commissioning of the NCDMB tower is a salute to President Buhari commitment for continuity.

He said the completion of the project is a key achievement in the portfolio of priority given to the ministry of Petroleum Resources, adding that the president has worked to change the narrative of oil and gas industry for better.

The Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Engr Simbi Wabote, said 95 per cent of the manpower used in the construction of the edifice was sourced from the local manpower.


Magu Cries Out Over Fair Hearing, Lawyer Writes Salami Panel
SUSPENDED acting chairman of the Economic and Financial Crimes Commission (EFCC), Mr Ibrahim Magu, has told the Ayo Salami-led Judicial Commission of Inquiry that his rights to a fair hearing are being violated. This is contained in a letter written by Magu’s lawyer, Mr Wahab Shittu, dated August 11, and addressed …

N2.6trn economic sustainability plan

FG To Deduct Money From States Over Double Taxation
THE Federal Government is set to sanction states engaging in double taxation in the country, as the Federal Executive Council (FEC) has asked the Minister of Finance, Budget and National Planning, Hajia Zainab Ahmed, to deduct money from the source from those states…

N2.6trn economic sustainability plan

You might also like

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. AcceptRead More