Nike Popoola

The Vice President, Yemi Osinbajo, has said the Federal Government is working with the Central Bank of Nigeria to help borrowers to restructure their loans as part of efforts to ease the impact of COVID-19 pandemic.

Osinbajo said this in a statement on Sunday by the Senior Special Assistant to the President on Media & Publicity, Office of the Vice President, Laolu Akande, entitled ‘FG will use part of N2.3tn ESP stimulus as buyer of last resort – VP Osinbajo.’


The statement said he disclosed this at the virtual edition of the 2020 presidential policy dialogue of the Lagos Chamber of Commerce and Industry.

As part of measures put in place to support small businesses, he said, “Working with the central bank, we try to ensure that we are able to put in place a system whereby many businesses that have taken loans will be able to restructure those loans.

“This is an ongoing conversation and we intend to keep the banks reassured that allowing generous restructuring programmes will be supported by the central bank and that the central bank will not throw them under the bus.”


He said the priority of the Federal Government in response to the economic challenges posed by COVID-19 was essentially to ward off a deep recession and to save jobs.

“We are hoping to do by a mixture of stimulus measures to support local businesses; the essence being to retain jobs and to ensure that we create the best possible circumstances for the most vulnerable in the society,” he said.

Osinbajo said the Federal Government developed the Economic Sustainability Plan with a stimulus package of N2.3tn to give fillip to the economy across various sectors.


The size of the stimulus was about 1.5 per cent of national income or Gross Domestic Product, he said.

According to him, this is not as large as the government would have liked it to be but it was the best it could do, given existing fiscal and monetary constraints.

The vice-president said this was also based on the assumption that the price of crude would average around $30 to $40 per barrel throughout the year.


He said it anticipated an economic growth of about -0.59 per cent in 2020.

https://punchng.com/fg-to-restructure-sme-loans-says-osinbajo/?amp=1&utm_term=Autofeed&utm_medium=Social&utm_source=Twitter&__twitter_impression=true

#Bouncingback is a goal

Good , and this will help those businesses that has been collapsed as a result of LOCKDOWNS, Thanks to Buhari/Osinbajo for taking them into consideration

Interesting one! Nigeria shall indeed comeback to our feet

Nigeria is surely bouncing back

This makes for good reading as the beneficiaries will no longer groan under the burden of the lockdown months.

Wow what a good news to start the week

This is a good news...but I find it difficult to believe this present administration again

As part of measures put in place to support small businesses, he said, “Working with the central bank, we try to ensure that we are able to put in place a system whereby many businesses that have taken loans will be able to restructure those loans.

“We are hoping to do by a mixture of stimulus measures to support local businesses; the essence being to retain jobs and to ensure that we create the best possible circumstances for the most vulnerable in the society,” he said.

This is the CHANGE we voted for.

A good and better Nigeria is all we want.

A good and better Nigeria we shall get.

Slow and steady we will get there.

God bless Nigeria.

Elsadam:


God bless Manna.

Nigeria shall be great.

AMEN.
God bless you too.

Joylove2324:
Wow what a good news to start the week

True.

It's gonna be a beautiful week ahead.

Damn sure

EagleNest:
I was thinking restructure Nigeria when I saw restructure in headline but anyway.

Anyway,
You need a good pair of glasses young man!

Joylove2324:
Wow what a good news to start the week

It hasn't been done yet

�

Okay

Government of unending empty promises. When I think of the fact that we still have about 3 years to go with this worst government, I get angry.

What ever!

This government and loans

What of Trader moni you shared during campaigns? Now is the right time for it


Your home is incomplete without good quality furniture thats why we are here for you

Well done Afonja Prof.... Serving as buhari's brain since 1532

Joyce95:
Interesting one! Nigeria shall indeed comeback to our feet

Which feet, the leg wey them don amputate .

okefrancis:
Good , and this will help those businesses that has been collapsed as a result of LOCKDOWNS, Thanks to Buhari/Osinbajo for taking them into consideration

It's just a promise. Nothing serious

Some time I wonder how we get our data information is it at birth or at death



Nigeria na wa o

I really do hope you guys keep to your words. The pandemic has hit a big blow on the economy already.

If the SMEs are supported adequately to grow. The economy can be saved.

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dem don use loan curse this country

Nice.

As if they know the population of the country or the figure of SMEs we have in this country

I stopped believing government many years ago

The man after my heart.