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Why Buhari Released N2.3 Trillion Stimulus Package To Nigerians For COVID-19 - Politics - Nairaland

Nairaland Forum / Nairaland / General / Politics / Why Buhari Released N2.3 Trillion Stimulus Package To Nigerians For COVID-19 (17173 Views)

Osinbajo To Monitor Implementation Of ₦2.3 Trillion Stimulus Package / Lagos Government Begins House-to-house Sharing Of Stimulus Package To The Aged / Lockdown: Ogun Unveils Stimulus Package Items, To Begin Distribution Saturday (2) (3) (4)

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Why Buhari Released N2.3 Trillion Stimulus Package To Nigerians For COVID-19 by Lamasta(m): 1:20am On Sep 12
Vice President, Prof Yemi Osinbajo, has revealed that the Federal Government’s N2.3 trillion stimulus package was designed to mitigate the shock, tackle the vulnerabilities, create and protect jobs, as well as rescue businesses and reposition the economy.

The Vice President stated this in his keynote at the 61st annual conference of the Nigerian Economic Society (NES) themed “African Continental Free Trade Area (AfCFTA) in Post COVID-19 Era: What Next for Nigeria?”

“Our projections showed that without the stimulus, the economy was set to contract by -4.4% in 2020, but with implementation, including ramping up local production, we should be able to limit the negative growth to -0.59%. Let me be clear, our desire to ramp up local production is not a call to autarky but rather an expenditure switching approach which can complement the AfCFTA desire to deepen regional value-chains,” he added.

Referring to Nigeria’s experience with the COVID-19 pandemic, Prof. Osinbajo said, “indeed, one thing that has become clear from our experiences of the last few months is the need for a vibrant and successful AfCFTA.

“The pandemic has exposed our dependence on commodity exports to other parts of the world and on the import of manufactured goods from them.

“As at 2017, intra-Africa trade in goods was $135 billion, which was just about 15% of Africa’s total trade. This is in sharp contrast to trade in other regions, which is as high as 70% in the European Union and 60% in Asia.

“The imposition of export bans, including on food items by some countries and the disruption of global supply chains at the height of the pandemic, showed just how exposed and vulnerable African countries are because of limited productive capacity and a lack of regional value chains.”

The Vice President then noted some of the proactive steps taken by the Federal Government to participate effectively in the AfCFTA.

In his words, “…the Federal Government is investing heavily in power, road, rail and port infrastructure projects. It is also why we are taking active steps to improve the business environment and to facilitate trade across our borders, including through the implementation of the National Trading Platform or Single Window Project. Part of that project is the installation of scanners at our ports.

"Government also realizes, of course, that it needs to be able to enforce trade rules and apply trade remedies so that our partners in the AfCFTA, especially our neighbours, do not take undue advantage of our large market. You will be glad to know that the National Action Committee on the implementation of the AfCFTA, which is chaired by the Honourable Minister of Industry, Trade and Investment, is actively seized with these matters.”

He added that, “if the AfCFTA is to achieve the desired objectives, then it is also very important that Nigeria should push for the implementation of complementary programmes and protocols, including the Protocol on Free Movement of Persons, the pan-African payments system and other sectoral programmes.”

On the need for academics to be more involved in conversations that would deepen public knowledge and understanding of the economy, the Vice President called on members of Nigerian Economic Society to be more engaged in public policy debates.

He said, “I find every often that some public commentators make assertions that have no basis in economic theory or practice, and because they dominate the public space, they contribute to public misunderstanding of economic principles and their application to public policy. Some of you should take up the gauntlet and help to shape an informed and reasoned national discourse on the economy."

https://dailypost.ng/2020/09/11/covid-19-why-buhari-released-n2-3-trillion-stimulus-package-to-nigerians-osinbajo/

6 Likes 2 Shares

Re: Why Buhari Released N2.3 Trillion Stimulus Package To Nigerians For COVID-19 by Ab0bi: 1:28am On Sep 12
I stopped reading when I saw >>
Vice President, Prof Yemi Osinbajo, has revealed that the Federal Government’s N2.3 trillion stimulus package was designed to mitigate the shock, tackle the vulnerabilities, create and protect jobs, as well as rescue businesses and reposition the economy.
The stimulus package the bullhari govt provided are;
Increase in VAT.
Increase in fuel price.
Increase in PHCN tariff.
Naira has lost its value.
Increase in corruption.
Insecurity at it high.
Bad governance.
Election rigging and many other evil vices u can think of.
Any other stimulus package is a SHAM!!

Avoid anyone who can look u in the eyes and confidently say that Nigeria got better under Buhari.

379 Likes 43 Shares

Re: Why Buhari Released N2.3 Trillion Stimulus Package To Nigerians For COVID-19 by GoodofNaija: 1:47am On Sep 12
APC Abracadabra stimulus to activate zombies grin

67 Likes 6 Shares

Re: Why Buhari Released N2.3 Trillion Stimulus Package To Nigerians For COVID-19 by Ab0bi: 2:05am On Sep 12
Lamasta:
Se.un
Mynd.44
Lalast.iclala

Let people see the good works our government is doing biko
When a stup*d govt is elected in a democratic country, the best thing about this is that you learn the number of stup*d ppl in that country.

135 Likes 9 Shares

Re: Why Buhari Released N2.3 Trillion Stimulus Package To Nigerians For COVID-19 by Ehiscotch(m): 3:19am On Sep 12
He said, “I find every often that some public commentators make assertions that have no basis in economic theory or practice, and because they dominate the public space, they contribute to public misunderstanding of economic principles and their application to public policy. Some of you should take up the gauntlet and help to shape an informed and reasoned national discourse on the economy."

This is true but the hungry man can barely reason beyond the twist and turns of his intestine.

I just hope the economic policies come good.

10 Likes 2 Shares

Re: Why Buhari Released N2.3 Trillion Stimulus Package To Nigerians For COVID-19 by inoki247: 4:02am On Sep 12
yyy
Re: Why Buhari Released N2.3 Trillion Stimulus Package To Nigerians For COVID-19 by Goldencheese(m): 4:02am On Sep 12
Wonder government. Chai

1 Like

Re: Why Buhari Released N2.3 Trillion Stimulus Package To Nigerians For COVID-19 by Aufbauh(m): 4:09am On Sep 12
They better wire our share of this money into individual account instead of using another government platform cheesy. Then one head of such MDAs will divert 80% of the money.

18 Likes

Re: Why Buhari Released N2.3 Trillion Stimulus Package To Nigerians For COVID-19 by mtchris(m): 4:11am On Sep 12
What is he saying?

13 Likes

Re: Why Buhari Released N2.3 Trillion Stimulus Package To Nigerians For COVID-19 by Lamasta(m): 8:05am On Sep 12
Ab0bi:
When a stup*d govt is elected in a democratic country, the best thing about this is that you learn the number of stup*d ppl in that country.

Continue learning it....

4 Likes 3 Shares

Re: Why Buhari Released N2.3 Trillion Stimulus Package To Nigerians For COVID-19 by azmanaty02: 8:42am On Sep 12
Audio 2.3trillion

This short devil vp will also partake in the 600years suffering + his generations. Useless lying short pastor

64 Likes 4 Shares

Re: Why Buhari Released N2.3 Trillion Stimulus Package To Nigerians For COVID-19 by yoruba1914: 8:47am On Sep 12
Fake ass pastor won tell us another story again o.

36 Likes 1 Share

Re: Why Buhari Released N2.3 Trillion Stimulus Package To Nigerians For COVID-19 by jaxxy(m): 8:54am On Sep 12
That won’t get to who it’s meant for. When osinbajo says things he cannot implement. It amounts to lies. He should be slow to speak.

He talks too much with no action most times.

19 Likes 1 Share

Re: Why Buhari Released N2.3 Trillion Stimulus Package To Nigerians For COVID-19 by helinues: 8:54am On Sep 12
shocked

1 Like

Re: Why Buhari Released N2.3 Trillion Stimulus Package To Nigerians For COVID-19 by azmanaty02: 8:54am On Sep 12
mtchris:
What is he saying?

Lol grin

5 Likes

Re: Why Buhari Released N2.3 Trillion Stimulus Package To Nigerians For COVID-19 by Codes151(m): 8:54am On Sep 12
Una way happy. I hope say the 2.3t touch una

3 Likes

Re: Why Buhari Released N2.3 Trillion Stimulus Package To Nigerians For COVID-19 by Rilwayne001: 8:54am On Sep 12
Aufbauh:
They better wire our share of this money into individual account instead of using another government platform cheesy. Then one head of such MDAs will divert 80% of the money.


You go tey for OYO

6 Likes

Re: Why Buhari Released N2.3 Trillion Stimulus Package To Nigerians For COVID-19 by Ogonimilitant(m): 8:55am On Sep 12
This criminal and a scammer midget self-acclaimed pastor cum mere commissioner is always ready to be used by his Fulani lord.

When did you become an economist? Keep defrauding yourself. This man with no iota of integrity.

18 Likes

Re: Why Buhari Released N2.3 Trillion Stimulus Package To Nigerians For COVID-19 by Timewaster: 8:55am On Sep 12
Who exactly benefitted from this money

3 Likes

Re: Why Buhari Released N2.3 Trillion Stimulus Package To Nigerians For COVID-19 by Trabelsi10(m): 8:55am On Sep 12
"E be like say they want tell us another story again oh" in 2baba's voice

10 Likes

Re: Why Buhari Released N2.3 Trillion Stimulus Package To Nigerians For COVID-19 by Openbusiness: 8:55am On Sep 12
Mtchwwwwwww
Re: Why Buhari Released N2.3 Trillion Stimulus Package To Nigerians For COVID-19 by shiki(m): 8:55am On Sep 12
cheesy e be like say, e be like say they want to tell us another story again ooo

share 1trn to the masses accounts and use the remaining amount to support the so called businesses and the masses will tag ur govt one of the best

3 Likes

Re: Why Buhari Released N2.3 Trillion Stimulus Package To Nigerians For COVID-19 by money121(m): 8:56am On Sep 12
Ok
Re: Why Buhari Released N2.3 Trillion Stimulus Package To Nigerians For COVID-19 by Jayug(m): 8:56am On Sep 12
If you are benefiting from this covid19 season, you will not pray for the end of covid19

1 Like

Re: Why Buhari Released N2.3 Trillion Stimulus Package To Nigerians For COVID-19 by letristian: 8:56am On Sep 12
grin
Re: Why Buhari Released N2.3 Trillion Stimulus Package To Nigerians For COVID-19 by Yeyenairaland(m): 8:56am On Sep 12
Na only GOD go punish this midget stupid professors supporting an illiterate herder.

Anyway, if you really wanna be earning at least $50 daily by just downloading apps and posting videos on your social Media pages.

Rush now and check my signature.

Offer is time bound!

6 Likes

Re: Why Buhari Released N2.3 Trillion Stimulus Package To Nigerians For COVID-19 by Xstremebj: 8:56am On Sep 12
Trabelsi10 post=93p835771:
F


G grin
Re: Why Buhari Released N2.3 Trillion Stimulus Package To Nigerians For COVID-19 by easyfem(m): 8:56am On Sep 12
two things is involve in dix money ........either for north or for looting, so my bother and sis...........dont even smile on d news coz its has no impact on ur life

6 Likes 1 Share

Re: Why Buhari Released N2.3 Trillion Stimulus Package To Nigerians For COVID-19 by jericco1(m): 8:57am On Sep 12
Wonderful!
And even one kobo no reach my side.
No be juju be this grin grin

2 Likes

Re: Why Buhari Released N2.3 Trillion Stimulus Package To Nigerians For COVID-19 by Maize247: 8:57am On Sep 12
Even if the government share 10trillion, it is nothing in the hands of the citizens with increment on everything

2 Likes

Re: Why Buhari Released N2.3 Trillion Stimulus Package To Nigerians For COVID-19 by wunmi590(m): 8:57am On Sep 12
undecided

Can you imagine?


And NIRSAL bank has not even disbursed half of the money given to them as COVID-19 stimulus package to the citizen.

Honestly, until I recieve my own household loan before i will start to believe their propaganda.

4 Likes

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