Coronavirus, Threat To Nigeria’s Economy -Buhari

President Muhammadu Buhari yesterday directed a repositioning of the economy, starting with a review of 2020 budget to reflect realities in oil sector, and prioritising health sector infrastructure to respond to the threats posed by Coronavirus.
Buhari gave the directive after the 2nd Regular Meeting of the Presidential Economic Advisory Council (PEAC), held at the Presidential Villa, Abuja and was contained in a statement signed and sent to newsmen by its spokesperson, Garba Shehu.
The president recommended securitisation of government debt, design and institutionalisation of a revenue stabilisation programme and the imperative of cutting the cost of governance at all levels.
Buhari agreed with the Advisory Council on the need to prepare the country to take the necessary tough economic decisions, including embark on a national agenda of stakeholder mobilisation – bringing the National Assembly, government organs, private sector and civil society together around a programme to respond to the major challenges confronting the nation.
Highlighting immediate and short-term measures to consider and implement in order to mitigate any adverse economic effects, the meeting reviewed the COVID-19 pandemic and its potential economic spill-over effects on the global and Nigerian economy.