Buhari receives report on impacts of Coronavirus on economy, directs smooth govt operations

Mr Buhari on Monday set up a committee to assess the impact of the coronavirus epidemic on Nigeria’s 2020 budget and the economy in general.

President Muhamamdu Buhari has directed the Presidential committee on the impacts of Covid-19 on Nigeria’s economy to ensure that investments and the business of government continues to run without hitches.

“This committee that has been set up by the president to review the impact of Covid-19 as well as the crash of the crude oil price had a short meeting with the President in which we filed an interim report.“What we have been mandated to do is to ensure that the business of government continues to run as much as possible, normally.

“We are looking at ways and means in which the revenue of government will be stabilised and that we are able to fund the states through the Federation Account Allocation Committee process at a level that is averagely expected and planned for in both the federal and the national budgets,” she added. “Regarding travel ban, I must say that at this time we don’t consider it very necessary that we should go for a travel ban. You all must have read and heard about the consequences of travel ban which the United States imposed – It has also even dire consequences. However, it is not to say that we are not taking the issue very seriously.

While reacting to the sudden rise in the cost of foreign exchange in the parallel market, Mr Emefiele stated that the bank had taken measures to address the situation.

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