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Tinubu Launches ₦155 Billion Economic Relief and Infrastructure Plan

adminadminJune 28, 2024 1,6941 Minutes read0
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By Ajibola Olaide, JKNMedia Reporter

AN EXTENSIVE programme aimed at revitalizing Nigeria’s economy and infrastructure, encompassing all geopolitical zones, has been launched by President Bola Tinubu with a focus on bolstering agricultural productivity, advancing construction projects, and delivering economic relief to Nigerians.

President Tinubu’s directive includes an urgent call for governors to report back on their consultations and submit their requirements within seven days, highlighting the time-sensitive nature of these projects and the administration’s dedication to achieving tangible results.

Additionally, a ₦50,000 uplift grant has been instructed to be provided to 100,000 families per state for three months.

The programme also includes provisions for labor unions and civil society organizations, and ₦155 billion will be deployed for the purchase and distribution of assorted foodstuffs nationwide.

During the National Economic Council meeting in Abuja, President Tinubu urged state governors to collaborate and address the pressing needs of citizens.

He emphasized the importance of boosting food production, noting that the Sokoto-Badagry Highway project is crucial for enhancing the nation’s food security and export capabilities.

Central to this initiative is the National Construction and Household Support Programme, which prioritizes significant infrastructure projects. One of the key projects is the Sokoto-Badagry Highway, connecting Sokoto, Kebbi, Niger, Kwara, Oyo, Ogun, and Lagos.

This highway is particularly important due to its impact on agricultural sustainability, with the route covering 216 agricultural communities, 58 dams, seven Special Agro-Industrial Processing Zones, and over one million hectares of arable land.

In addition to the Sokoto-Badagry Highway, other prioritized infrastructure projects include the Lagos-Calabar Coastal Highway and the Trans-Saharan Highway, linking Enugu, Abakaliki, Ogoja, Benue, Kogi, Nasarawa, and Abuja.

These roads are expected to significantly enhance connectivity and economic activities across the regions.

Furthermore, President Tinubu has approved full counterpart financing for major railway projects, including the Port Harcourt-Maiduguri Railway and the Ibadan-Abuja segment of the Lagos-Kano Standard-Gauge Railway.

These railways will traverse numerous states, improving transportation and trade routes.

As part of the economic relief measures, the government will allocate ₦10 billion to each state and the Federal Capital Territory for the procurement of buses and the CNG uplift programme.

The President reiterated his commitment to supporting agricultural mechanization, providing high-quality seedlings, and implementing solar-powered irrigation facilities to support farmers year-round.

He stressed the need for coordinated efforts and intentionality among National Economic Council members to ensure the successful execution of these initiatives.

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