The post-COVID-19 Economic Sustainability Plan was embarked to mitigate the impact of the COVID-19 pandemic on country’s economy.
Osinbajo added that, with a severe downturn in Nigeria’s oil earnings, the country would still have a shortfall of about N185 billion every month.
The Vice President explained that the mandatory lockdowns and social distancing measures rules imposed by the government due to the Coronavirus pandemic have had a severe negative impact on the economy.
According to him, the rules have affected the farms and factories, as well as on trade, the transport industry and tourism.
“Several projections, including those done by the NBS on behalf of the Economic Sustainability Committee, showed: a severe downturn in our oil earnings, as a result of which, even with oil price at 30 dollars a barrel, we would still have a shortfall of about N185 billion every month, in the amount available for allocation to the three tiers of Government,” the VP said.
“Unemployment may rise to 33.6% or about 39.4 million people by the end of 2020, if we fail to take prompt preemptive measures.
“Millions more will fall into extreme poverty, before the pandemic ends.”
He further explained that GDP may fall to between minus 4.40% and minus 8.91%, which, according to him, is depending on the length of the lockdown period and strength of the country’s economic response.
from dailypost
Nonsense talk!! So this is the goodwill message you and your PRESIDEBT can come up with this elektocracy day..Mtsheew..2nd base jare
ReplyDeleteSerious Nonsense talk.... What's their efforts to make sure people do not experience the after effect of the pandemic...
Delete๐๐๐๐๐๐๐
So dey can give accurate statistics for poverty but can't give statistics for the palliative that never got to the people.
DeleteGod help me. Covid 19 has made me jobless since last month. Am still in the shock of the sack. I don't want to fall into the poverty ratio lord. I have 900k in my account. What kind of business can l do?. Everyone around me is doing POS. What else can l do to survive. I have a son and parents to take care of. God please help me
ReplyDeleteYou can do Paga (withdrawal and transfer of money) business if you are in an area where bank is far from the people
DeleteIn my area here in ololwotedo mowe Ogun state we have Like l0 (Ten) people doing this paga (POS) business because we have to get to mowe before we can use ATM and people where always much....
DeleteOlowotedo or orimerinmu?
DeleteWonders will never cease to end.
ReplyDeleteGod help your children ๐
Abeg make he leave story.
DeleteAverage Nigerians all live in extreme poverty. Clueless leaders.
All the oil money for yrs. What did u leaders use it for??? All u know is vote and steal from the country. People are living in extreme poverty since na.
Cnt u see hunger in the land???
God forbid
ReplyDeleteAmen...
DeleteA very big Amen
DeleteJust negodu the kind of message they are giving us on democracy day...smh
Poverty will not be our portion,by God's grace.
ReplyDeleteLook at how they opened their mouth to yarn this kind nonsense.
ReplyDeleteWhat do they want us to do. We've been fending for ourselves like the govt aren't there. Mtcheeeereewwww
Abi oh..We that have been taking care of ourselves..Na Isaac kind of blessings I pray for everyone..We will flourish even in the midst of man-made wickedness..
DeleteAmen!
DeleteIsaac planted crops in that land and the same year reaped a hundredfold, because the LORD blessed him.
Let's find out what God will have us do in this man-made 'pandemic famine'.
We will surely prosper and wax exceedingly great in Jesus Christ name. Amen ๐๐๐
Show us the video in which he made the statement. WHERE IS YEMI OSINBAJO?
ReplyDeleteAll talk and more talks. Nigeria stink of poverty. Even their do proffered solution ain't doing nada
ReplyDeleteThere are enough bad news already, pls, don't come and add to it.
ReplyDeleteThe way out?
ReplyDeleteWhere are all those people that were looking for VP? Come and take your message!
ReplyDeleteNa now una know?
ReplyDeleteWhere are the people shouting lockdown.
Everybody go know somebody wey this austerity go hold but how many know person wey Coro hold.
Nigeria had no business locking down, the lockdown was not effective to curb the increase of the virus but it increased the rate of poverty and depression x 100%
You made very valid points here. ๐๐
DeleteDo not worry Mr Vice & Mr P everything is time & Season I guess you know what I meant very soon
ReplyDeleteHe is saying the truth! You guus should seriously start thinking of other source of income. Network marketing to the rescue
ReplyDeleteIt is well with Nigeria and Nigerians
ReplyDeleteHard days ahead
ReplyDeleteSo what is he and his boss doing to cushion the effect on citizens?
ReplyDeleteMadagascar knew what's good for them and cut loose early enough and left the rest of the world behind.
ReplyDeleteIf this government knows what's good for the country, they should cut out the pay for NASS, Federal and State Executives for the rest of their tenure and pass it into Law that subsequently their pay and allowances should not exceed that of Permanent Secretary in the public sector/government establishment and the sentence for looting public funds should be death!
IF YOU WANT TO SERVE YOUR NATION, MAKE THAT SACRIFICE!
Chaii...naija my country,I weep for the citizens
ReplyDeleteTired of this natio
ReplyDeleteNa wa....o
ReplyDeleteThis Buhari govt will be the death of us๐๐ข
ReplyDeleteNigeria have always been bad even before covid 19 , so he should using covid 19 as an excuse
ReplyDelete