Nigerians Have Felt The Impact Of Our Economic Sustainability Plan – Osinbajo

Vice President, Yemi Osinbajo has come out to update President Muhammadu Buhari on the progress so far in the implementation of the Economic Sustainability Plan (ESP).

Osinbajo’s spokesman, Laolu Akande recently revealed this via a statement, and Nigerians have been reacting.

According to him, 3 months into the implementation of different components of the ESP: MSMEs Survival Fund; Social Housing Scheme, and Solar Home System, among others, citizens across different sectors have felt its impact.

He added that under MSMEs Survival Fund, more Nigerians have received Payroll Support payments, Artisans and Transport Grants.

His words, “For the Payroll Support track of the Survival Fund, a total of 277,628 beneficiaries drawn from 56,575 businesses have now been paid.

“This total number includes the batch of 20,614 beneficiaries recently paid for October, and 257,014 beneficiaries that were paid for November and December.

“A breakdown of the 257,014 beneficiaries shows that N30, 000 each was paid to 222,466 beneficiaries as November and December payments while N50, 000 each was paid to 34,548 beneficiaries as November and December salaries.

“Out of the total number, three per cent are beneficiaries with special needs, while 43 per cent are female employees/beneficiaries.”

“The process of installing N140 billion Solar Home System that will cover up to five million households has begun and serve about 25 million individuals in rural areas and urban communities has begun with the enlistment of solar assembling companies and components manufacturers as well as solar servicing firms.

“Under the scheme, the Central Bank of Nigeria (CBN) will make available funds to private companies involved in the manufacture, installation, servicing of the solar systems, at rates ranging between five and 10 per cent.

“An important aspect of the scheme is the option of outright ownership by beneficiaries at a cost ranging from N1,500 per week to N4,000 monthly depending on the capacities, for a period of years.”