nesses to swiftly reinvent themselves, and create sturdy fortifications against the looming global economic recession about to make a big crash in. Or whose first wave has already upended livelihoods and ways of life.
It is a world in which the “new normal” requires thinking without any boxes in place , particularly with the onset of a global economic recession, and its ripple effects in the massive disruptions to the income and survival of nations. Of the then identified 541parastatals, commissions and agencies , the Oronsaye report suggests that the 263 statutory agencies of government should be streamlined to 161, while 52 agencies are merged, 38 reduced and 14 reverted to being departments in ministries.
Here was a sector, which before the onslaught of coronavirus was a huge avenue of growth, constituting almost 10 per cent of the global GDP, at $8 trillion, in 2016. It accounted for almost six per cent of the world’s total exports, valued at $1.1 trillion; almost five per cent of the world’s investments, at $652 billion, and about nine per cent of the world’s jobs.
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