The government’s plan was announced at the end a two-day National Economic Council (NEC) retreat held at the Presidential Villa, Abuja, the nation’s capital.
Addressing reporters at the end of the retreat, the Minister of Finance, Mrs Kemi Adeosun, said part of the money would be used to offset contractual debts.
Some other resolutions she read out were focused on increasing Internally Generated Revenue and fostering collaboration between Federal and State Inland Revenues to ensure there was an alignment.
These and more formed part of the resolutions of the retreat.
The retreat was said to have been muted by the Nigerian Governors Forum to find a solution to the economic problems they had faced over time.
To solve the problems, the Chairman of the National Economic Council convened the two-day retreat.
Other resolutions reached at the retreat were read out by the Minister of Budget and National Planning, Udo Udoma.
The Governor of Anambra State, Willie Obiano said a resolution was reached on the integration of trading in infrastructure projects and investing in the Nigerian people through the school feeding programme.
The National Economic Council also established two committees, one of them headed by the Vice President, Professor Yemi Osinbajo, to monitor the full implementation of the resolutions from the retreat, as well as provide a progress report on the implementation.
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