The Federal Government, on Tuesday, March 22, said it will inject about N350 billion into the economy.
Finance Minister, Kemi Adeosun, who revealed this while addressing State House correspondents at the conclusion of the two-day National Economic Council retreat, Adeosun said the money would be paid to contractors to enable them re-engage staff they had laid off.
She said the fund would be released after the 2016 national budget was passed in order to stimulate the economy.
“From the Federal Ministry of Finance, in anticipation of the approval of the budget, we’ve virtually lined up about N350 billion which we’ll be pumping into the Nigerian economy in the forthcoming months. We explained our rationale and the processes that we’ve put in place, safeguards, to ensure that this money actually achieves the desired objective which is to stimulate the economy.
“We’re already discussing with some of the contractors who will be paid these monies and the objective from the overall criteria is how many Nigerians would be re-engaged.”
