COVID-19: Massive economic crises loom, says CBN

ssion.

While calling for a significant reduction in migration across the country, the governor said the committee urged the Federal Government to take the necessary steps to safeguard the population through close monitoring and emergency measures to identify and care for infected persons in the country. “The committee observed that not only will the COVID-19 pandemic result in health crises, it will also result in massive economic crises that will force many countries into recession, including the leading industrialised countries.”

On the introduction of price modulation measures, resulting in reduction in the pump price of Premium Motor Spirit from N145 to N125 per litre, he said the move would boost aggregate demand, lower inflation and improve the welfare of the ordinary Nigerians. While recognising the success of the CBN’s loan-to-deposit ratio policy and its potential to alleviate production shortfalls, reduce unemployment and boost aggregate demand, the governor said the committee urged the apex bank to pursue this initiative and other related policies to a conclusive end.Given a sectoral distribution of credit between May 2019 and February 2020, he said the manufacturing sector got N533.06bn; general retail and consumer loans, N380.71bn; and general commerce, N229.

Nigeria is broke . We don’t have no money .

Oooin 😏

You have always been a failure, now you have something to pin it on.

ASUU crisis,corona virus crisis and now potential economic crisis...and this is just the third month of the year.Our Lord,deliver us from the danger of 2020,cuz we are already tired.

We know

When has there never been economic crises, just say there will be no more funds to loot

Obviously

As if we have ever felt u guys impact before

🥵😱😭😭😭

Tele nko! Yeye. Looming for the politician, rich and those at the helms of affairs

We were already in massive economic crisis before Corona season came.

STFU

Nigeria Latest News, Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

CBN lists conditions to access N50bn Covid-19 intervention fundToo much money in this country but but people are dying of hunger virus everyday, you won't hear that in the media, do you know why, it's cus hunger doesn't kill the rich. Conditions for what bikonu? N50bn for how many people? I was laughing at Tunisia who put out USD900M
Source: MobilePunch - 🏆 8. / 63 Read more »

COVID-19: Sultan orders closure of all mosques in AbujaCOVID-19: Sultan orders closure of all mosques in Abuja MondayMotivaton TopStories mondaythoughts Preventive measures are necessary
Source: TheNationNews - 🏆 6. / 69 Read more »

Covid 19: FG cautions religious, political leaders over flouting its directivesThe Federal Government on Monday admonished religious and political leaders to show great responsibility and obey its directives in its...
Source: TheNationNews - 🏆 6. / 69 Read more »

Covid-19: Kogi High Court to hear only urgent, criminal cases - Daily Post NigeriaSequel to the directive of the Kogi State Government ordering civil servants on grades level one (1) to thirteen (13) to work from home and the ban on
Source: DailyPostNGR - 🏆 11. / 59 Read more »

Sultan orders closure of all mosques in Abuja over COVID-19The President-General, Nigerian Supreme Council for Islamic Affairs (NSCIA), Alh. Muhammad Sa’ad Abubakar, who is also the Sultan of Sokoto, on Monday... God bless u sir Not just Abuja......even in Ilorin the Emir has ordered that all mosques be closed till further notice. God bless NSCIA.....they have done well💪💪 CAN won't take similar steps because most of the churches are business centers
Source: TheNationNews - 🏆 6. / 69 Read more »

COVID-19: Abia Govt. to procure testing kits - The Nation NewsAs part of its precautionary measure against the pandemic, the Abia Government says plans are underway to procure Coronavirus (COVID-19)... Is Abia no longer in the Bible? Is that not early... Poor mentality
Source: TheNationNews - 🏆 6. / 69 Read more »