COVID-19: Osinbajo sets up committee on reopening of Nigerian economy Read more:

By gpresido • a week ago • 3658 views • 1193 comments
COVID-19: Osinbajo sets up committee on reopening of Nigerian economy Read more:

Osinbajo constitutes committee on reopening of economy after NEC meeting: Photo credits: Yemi Osinbajo  .

The vice president’s spokesperson, Laolu Akande, in a press release, disclosed that NEC plans to ensure that there is a synergy between the federal government and sub-nationals regarding the reopening o the economy after the lockdowns and shutdowns across the country.


Nigeria's vice president presides over first-ever virtual NEC meeting (photos) The committee which is to be led by Governor Ifeanyi Okowa of Delta state is expected to collaborate with the presidential task force on COVID-19 and states governments.


Meanwhile, the finance minister, Zainab Ahmed, has said Nigeria’s economy will go into a recession based on the current assessment by the Nigeria Bureau of Statistics (NBS). Ahmed told journalists shortly after the national economic council meeting in Abuja on Thursday, May 21, that the current data shows that the economy will go into a recession at an average of -4.4 per %.


The minister noted that the federal government was trying to reduce the impact of the recession on Nigerians through stimulus packages. She said the economic team is making efforts to ensure that the recession is shallow so that the country can quickly come out of it in 2021. The last time Nigeria entered a recession was in 2016.


Osinbajo-led NCP seeks approval for free healthcare, improved power A country’s economy goes into recession when its Gross Domestic Product (GDP) reduces for two consecutive quarters. In another report, the presidency has released a list of measures President Muhammadu Buhari has taken, and will further take, to make life abundant for Nigerians after coronavirus ends.


This was contained in a statement released by the special adviser to the president on media and publicity, Femi Adesina, on Thursday, May 14.

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