FEC Approval of #2.3trillion NESP, a disappointment- Onifade

The Nigeria Economy Sustainability Plan headed by Vice President, Yemi Osibanjo had few weeks ago submitted a #2.3 trillion naira stimulus package to the Federal Executive Council, this package according to him was

meant to resuscitate the Nigerian economy following the adverse effects the Covid-19 pandemic has had on it.

There were contained in the package, plans to set up solar panels for rural areas, provide employment opportunities for the youth via the N-Power initiative, provide private organizations and corporate institutions who have been grossly affected with financial support and also provide funds for farmers amongst other plans.

The Federal Executive Council on Wednesday approved the plan submitted by the NESP and things have kick started for implementation of the plan as the N-Power website has been opened for young persons to apply.

While speaking on the Liberating Nigeria online show following the submission of the plan, Debo Onifade, authort of the book Liberating Nigeria: a guide to winning elections and reviving our country and convener of www.liberatingnigeria.com an online political forum, had asserted that the plan was vague. He noted that the Vice President didn’t state how the funds were to be distributed, didn’t state factors that will determine the poor and the grossly affected that will benefit from the funds. He said the more than 64 pages plan didn’t say exactly what the Nigerian populace needed to know, stating that all of the funds would rather end up a largesse for government officials if implementation plans are not clearly stated out.

He said the plan didn’t also state if funds spent in setting up the solar panels will be recuperated back from the community or it was being set up for free.


Onifade described the approval of the funds as disappointing and lacked objectivity. He said the government didn’t take time to critically look into the document to determine it’s feasibility. According to him, the document should have been summarized into 2 pages for easy read of the public and also made available to the general populace as against only the few elites who have access to it.

Meanwhile, in his article published on major Nigerian newspapers and a top American News platform, Onifade has adequately explained how Nigeria can take advantage of the US-China trade war for the benefit of the country and Africa at large. He said the country should begin to outsource skilled young professionals to the US, seeing that we have youths who are eager to learn technical and technological skills, the government should provide platforms that will skill up these young people and make them fit to compete with other countries for US jobs.

According to him, the US now outsource from India and other eastern countries, so Nigeria ought to take the lead of countries outsourcing labour from Africa to the United States. The country should decentralize power, modernity and skills from just Lagos and Abuja but begin to focus on other states in the country like Ogun, Osun and other seemingly rural areas.

He thinks this will help to better regulate the price at which Nigerian youths render their services. It would help reduce the cost of labour and project us better as having the needed capacity for labour to the United States and other Western countries.

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