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Buhari inaugurates committee to review 2020 budget after Coronavirus outbreak

By News Desk

In a bid to save Nigeria economy, President Muhammadu Buhari has set up a committee to assess impact of the raging coronavirus on Nigeria’s 2020 budget.

The committee, according to the President, is to assess how the crash of crude oil prices to $30 per barrel will not affect the budget performance and snowball into crippling the country’s economy.

Inauguration of the committee came barely hours after second Coronavirus case was confirmed in Ogun State by Ministry of Health.

The committee inaugurated on Monday is chaired by Minister of Finance, Budget and National Planning, Zainab Ahmed.

Other members are the Minister of State, Petroleum Resources, Timipre Sylva; the Governor of Central Bank of Nigeria, Godwin Emefiel; the Minister of State, Budget, Clement Agba; and the Group Managing Director of the Nigerian National Petroleum Corporation, Mela Kyari.

The committee is to submit a report to Buhari on Tuesday (tomorrow).

Ahmed, who addressed State House Correspondents after the meeting, said the committee would decide whether to reduce the budget benchmark of $57 per barrel.

“But, what that figure will be is what the committee will decide”, she stated.

Ahmed added that in the event it became necessary to reduce the benchmark, the committee will also recommend a reduction in the size of the N10.59trillion budget.

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