Osinbajo Reveals what will happen to nigerians at the end of 2020

Vice President Yemi Osinbajo has revealed that 39.4 million Nigerians might be out of job by the end of 2020 according to projections received by the economic sustainability committee.

Osinbajo who disclosed this while presenting the committee’s report to President Muhammadu Buhari on Thursday June 11, said the National Bureau of Statistics also projects that the country would have a revenue shortfall of N185 billion monthly with oil prices at $30 a barrel.

The Vice President stated the projection might come to reality if government does not take prompt measures. He revealed that the committee has been given the responsibility of developing a credible sustainability plan for repositioning the Nigerian economy pre and post COVID-19 crisis period.

Osinbajo said;

“Several projections, including those done by the NBS on behalf of the economic sustainability committee, showed a severe downturn in our oil earnings, as a result of which, even with oil price at $30 a barrel, we would still have a shortfall of about N185 billion every month, in the amount available for allocation to the three tiers of government.

“That unemployment may rise to 33.6 percent or about 39.4 million people by the end of 2020 if we fail to take prompt preemptive measures; that millions more will fall extreme poverty before the pandemic ends; that GDP may fall to between minus 4.40% and minus 8.91%, depending on the length of the lockdown period and strength of our economic response.

“We have therefore recommended that we must carry out mass programmes that create jobs and utilise local materials. Such will include a mass agricultural programme, which is expected to bring between 20,000 and 100,000 hectares of new farmland under cultivation in every state of the federation and create millions of direct and indirect job opportunities.

“Extensive public works and road construction programme focusing on both major and rural roads and using locally available materials like limestone, cement and granite.

“Mass housing programme to deliver up to 300,000 homes annually, engaging young professionals and artisans who form themselves into small and medium scale businesses within the construction industry, using indigenous labour and materials.

“Installation of solar home system, targeting five million households, serving about 25 million individual Nigerians who are currently not connected to the national grid.

“The provision of ample support for the informal sector through low-interest loans and by easing procedures for registration, licensing, obtaining permits, etc.”

It was further gathered that the committee recommended that ministers be responsible for implementation of plans situated in their respective Ministries.

On his own part, President Buhari commended the committee for completing their assignment in good time. He added that more efforts would be geared towards making life better for citizens.

He said;

“This has been a trying time for those in the informal sector, which constitutes a large part of our economy, important family celebrations were held without the presence of loved ones, schools are closed and parents have had to resort to homeschooling in addition to juggling other responsibilities.

“Despite all these, Nigerians have done their best and persevered. I must salute Nigerians for their resilience in adapting to the realities of the COVID-19 effect while also recognising the superhuman effort of our frontline health workers.”

Rightfully titled the 'chairman use the toilet commitee of nigeria' Even tunde yusuf is more important to buhari than this one.

this admin has plans


wish Nigerians can have plans for themselves

This one no be news na e don dey happen already.






instead of them to put plans in place just to prevent it dem go just dey talk up and down.




and last last when it happens they will blame pdp and the previous administration.




19

If only what happened to GEJ happened now

Naija would have been better at least a little

Poloyanabo2:
Rightfully titled the 'chairman use the toilet commitee of nigeria'
Even tunde yusuf is more important to buhari than this one.

He is important that's why Buahri didn't ask him to set up plan to avert the nation's pandamic challenges poised to our economy; Buahri still ask and trust Osinbajo to set up a plan and for your information, he has finished with the master plan. ; Osinbajo's Master ESC plan.

A proactive Government will always project what is and what to come. That exactly what the Vice President means by this statement and this will help a lot in the planning process of this Government. Meanwhile have a glance at the highlights of the the Economic Sustainability Plan.

I strongly believe the plans made by the Osinbajo-led council will have a positive impact on the Economy and also on Nigerians. Now, we await implementation of these plans.

The VPs plan always have a positive impact on nigeria �� economy

Agriculture is one of the areas this government has focused on in order to sustain our economy. Nigeria was once one of the countries that depend on importation of rice, but now, we are one of the best producer of rice. I believe We can still do better.

Is he predicting as a pastor or as a vice president? whichever one, we already know the world is in crisis, and so many people are out of work already. Though, Nigeria will be worst hit, coz Nigeria has been in crisis before the world crisis

The VP Osinbajo always have a better plan to this country.

Epp us Lord

ThatFairGuy:
Always flirting with women. Odoko

My choice.... Brah

So says mere commissioner of condolences and chairman of toilet matters.

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Poloyanabo2:
Rightfully titled the 'chairman use the toilet commitee of nigeria'
Even tunde yusuf is more important to buhari than this one.

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[s]

BlackfireX:
So says mere commissioner of condolences and chairman of toilet matters.

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TripleOh7:
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Lagbara Awon iya mi osoromaniga Iran re ma di IPOB

We thank God , He gave us such a wonderful amazing reasonable academian as vice president , if not we would have been on the street begging for money from these economic vultures

[quote author=TripleOh7 post=90797426][/quote






Oro dun omo ale