FG Unfolds N2.3tr Plan To Improve Payroll Support, MSMEs
In a bid to ease citizens from economic challenges imposed by the pandemic, the Federal Government announced it has initiated the development of an Economic Sustainability Plan of N2.3 trillion to improve payroll support to businesses, Micro Small and Medium Enterprises (MSMEs).
The Sun reports that, The Minister of Works and Housing, Mr Babatunde Fashola, speaking at a virtual commemoration of the 2020 World Habitat Day (WHD) celebration in Abuja with the theme: “Housing for all: A better Urban Future.”, said the sustainability plan will equally improve collateral fund, loan re-strengthening for businesses, industry support and agricultural support. Fashola assured Nigerians of the success of the plan, while hoping it will strengthen partnership with the private sector and government agencies at all levels to effectively deliver on their mandate.
The Minister acknowledged the adverse effect of the coronavirus pandemic on an already difficult situation while outlining activities set out to improve access to affordable housing, mobility, sanitation, jobs and socio economic opportunities despite the challenges posed by the pandemic.
He said that the approach for implementing the programme was multifaceted—– “from house refurbishment loans to mortgages with reduced service conditions; direct housing construction, improved speed of titling and issuance of documents with plans under way to unlock unused properties as well as accelerate advocacy for reduced rent demands”.
According to Fashola, a people-centred approach was key to addressing housing issues which would be the basis for character shaping and socio-economic vibrancy of cities, as it is in all the urban centres around the world. He restated the Federal Government’s commitment to delivering “Housing that is obtainable, healthy, inclusive and adequate, safe and affordable as this was the key to sustainable and transformation of societies and communities.”
Earlier, in his welcome address, the Permanent Secretary, Federal Ministry of Works and Housing, Mr. Ernest Umakhihe, said the World Habitat Day was established in 1985 by the United Nations General Assembly through Resolution 40/202 on December, 17, 1985 and was first celebrated in 1986.
He said the first Monday of every October was recognised as World Habitat Day, a day set aside to focus on the state of human settlements and the basic rights for all for adequate shelter and to remind all that they are responsible for the habitat of the present and future generations.
Source: https://www.sunnewsonline.com/fg-unfolds-n2-3tr-plan-to-improve-payroll-support-msmes/
