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Osinbajo assures Nigerians stable economy amid coronavirus threat

By Idowu Abdullahi, 

Nigeria’s Vice President, Yemi Osinbajo, has reiterated the Federal Government’s commitment to ensure the country’s economy remains stable following effects of coronavirus on global economies, saying policies are being put in place to protect the nation’s economy from likely hit of recession.

He explained that the reassurance had become imperative after personal and collective inconveniences suffered by Nigeria and Nigerians due to measures such as restriction of movements and closure of business premises, as well as crash in price of crude oil globally.

Osinbajo said the government is aware of sudden life changes brought upon by the pestilence, adding that the President Muhammadu Buhari-led administration is doing everything possible to protect the citizens from further hardship during and after the fight against the novel virus.

The Vice President, through a statement by his media aide, Laolu Akande, said the President had constituted a high-powered Economic Sustainability Committee to cushion the effects of virus on the nation’s economy as well as look for ways in which jobs are protected while other opportunities are created.

“We are concerned about how to ensure that the economy remains stable, that jobs are protected and if possible, more jobs are created. We are very concerned about that and the President has expressed very serious concerns about the problems that may be associated with the lockdown.

“Many of our people work for a daily wage, they have to go out to work, so we have to think in terms of how to ensure that we are able to give them some succour during the period when they are not able to work,” the statement said.

Furthermore, Osinbajo stressed that the Economic Sustainability Committee which is being headed by him will soon submit its full report to the President to serve as catalyst in mitigating the economic problems that are being faced as a result of the lockdown.

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