The Federal Government has directed heads of ten ministries to come up with policies to guide the
the functioning of the economy during the COVID-19 pandemic.
President Buhari made this known during a national address on Sunday evening announcing a 14-day
extension of the lockdown in Lagos, Ogun, and Abuja and added that the ministers should work with the
Presidential Economic Advisory Council and Economic Sustainability Committee.
“To ensure our economy adapts to this new reality, I am directing the Ministers of Industry, Trade and
Investment, Communication and Digital Economy, Science and Technology, Transportation, Aviation,
Interior, Health, Works and Housing, Labour and Employment and Education to jointly develop a
a comprehensive policy for a ‘Nigerian economy functioning with COVID-19,” Mr. Buhari said.
The economies of many countries have been hit by the pandemic as governments imposed lockdown to
prevent the spread of COVID-19.
In Nigeria, the extension of the lockdown by 14 days in three commercial hubs in the country will be
injurious to the economy. The fall in global oil prices has dipped the revenue prospect for Nigeria.
Meanwhile, to reduce the impact of COVID-19 on agriculture as the country approaches farming season,
President Buhari has ordered the Minister of Agriculture and Rural Development; the National Security
Adviser; the Vice Chairman, National Food Security Council and the Chairman, Presidential Fertiliser
Initiative to work alongside the Presidential Task Force on COVID-19.
Experts have warned that if the COVID-19 persists and movement restriction in several parts of the
the country continues, food security may be threatened.
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