Nigerian Vice President Yemi Osinbajo on Thursday said the country is planning a survival fund and payroll support for artisans, private school teachers and small businesses.

“Through the Economic Sustainability Plan, the FG’s focus is to save jobs and create new ones,” Osinbajo said while taking questions at the ongoing Nigerian Bar Association Conference.

“Similarly, there is a survival fund and payroll support for artisans, private school teachers & small businesses,” he added.

The impact of coronavirus has really affected the country’s economy causing a spike in unemployment, inflation amongst several others.

Nigeria’s economy is facing collapse as it largely depends on oil exports. The oil markets have been on a downward trend as COVID-19 has crippled demand. Fuel prices fell and recorded 18-year low trading at less than 22 dollars per barrel and expected to go lower.

To salvage the situation, President Muhammadu Buhari during the height of the coronavirus inaugurated Economic Sustainability Committee on March 30, chaired by Osinbajo.

The committee was specifically charged with the responsibility of developing a clear Economic Sustainability Plan in response to challenges posed by the COVID-19 pandemic, and to propose monetary policy measures in support of the plan, among others.

Still, the country finance experts and organisations have projected that the country may experience a severe recession.

Minister of State for Budget and National Planning, Prince Clem Ikanade Agba on Tuesday said Nigeria may experience another negative growth in the third quarter of the year 2020.

“Is it likely that the growth in the third quarter will be negative or positive?, I think it is likely going to be negative considering the fact that the lockdown has just been lifted,” Agba said.

“But if we put on all our efforts, if we do what we have to do as Nigerians, then there will be room for recovery, it takes a joint effort, not only of government, but all Nigerians to take our country serious, play our roles in order to ensure that we have a quick recovery.”

https://guardian.ng/news/fg-plans-survival-funds-for-private-school-teachers-others/

Damnnnnn niggarrr
Nice one

Did Osinbajo saying what they didn't plan for.

We can never trust all these government officials with their fake promises. Where are the palliatives. People who carried out audio school feeding during lockdown. Every opportunity is a looting opportunity.

It will be great if the administration can pull this through. Private school teachers and owners of small businesses that are still not allowed to operate are really suffering.

A lot of private school owners could not their staff salaries due to COVID19 pandemic, kudos to this government for taking them into consideration.

We can only exercise a little faith because Osibanjo is involved. Otherwise, with the games being played with government projects, budgetary projects and social welfare projects in this country, the hope is very faint indeed.

I am really happy to hear this and is a thing of joy for all the private school � teachers, COVID-19 has affected so much but our government has taking the steps of helping them

With GOD all things are possible

Finally

This will go a long way and it will help lots of private school teachers that haven't earned salaries since the lockdown.

Same audio payment like feeding school kids at home?

Audio allowance loading....

Nigerian Vice President Yemi Osinbajo on Thursday said the country is planning a survival fund and payroll support for artisans, private school teachers and small businesses.

This is the best News Ever at least for private school teachers. Kudos