The President said the country’s revenues and foreign exchange earnings have fallen by almost 60 percent since the pandemic took hold.
Buhari’s remarks were delivered by Vice President Yemi Osinbajo at the start of the first-year Ministerial performance review retreat holding in Abuja.
“For the government, it has been a particularly trying time,” Buhari said. “As a result of the poor fortunes of the oil sector, our revenues and foreign exchange earnings have fallen drastically. Our revenues have fallen by almost 60 percent.
“Yet we have had to sustain expenditures, especially on salaries and capital projects, in order to keep the economy going.”
The pandemic forced many economies across the world to shut down, drastically reducing the demand for crude oil, Nigeria’s main export foreign exchange earner.
The President said his administration adopted a N2.3 trillion economic sustainability plan to mitigate the effect of the economic slowdown.
The plan, which consists of fiscal, monetary, and sectoral measures, is expected “to enhance local production, support businesses, retain and create jobs and provide succor to Nigerians, especially the most vulnerable.”
“But we have also had to take some difficult decisions to stop unsustainable practices that were weighing the economy down,” he said.
‘Government Not Insensitive’
President Buhari’s speech on Monday was delivered amid concerns raised by several groups in the country over increases in the price of fuel and electricity tariffs in the country.
“This government is not insensitive to the condition of our people and the very difficult economic situation and we will not inflict hardship on our people,” the President said.
He directed Ministers and senior administration officials to swiftly implement the Economic Sustainability Plan (ESP) to give succor to Nigerians.
“In this regard, the Central Bank of Nigeria (CBN) has created credit facilities (of up to N100B) for the Healthcare (N100 Billion) and Manufacturing (N1 Trillion) sectors,” Buhari said.
“From January 2020 to date, over N191.87B has already been disbursed for 76 real sectors projects under the N1Trillion Real Sector Scheme; while 34 Healthcare projects have been funded to the tune of N37.159B under the Healthcare Sector Intervention Facility.
“The facilities are meant to address some of the infrastructural gap in the healthcare and manufacturing sector as a fall out to the COVID-19 pandemic and to facilitate the attainment of the Governors 5-year strategic plan.”
Ebonyi Accident: Diaspora Indigenes Condole State Govt, Call For Investigation
Following a fatal accident that had almost everybody on board killed at Akaeze -Ukwu bridge, Ivo Local Government Area of Ebonyi state on Saturday, the Association of Ebonyi State Indigenes in Diaspora (AESID) has sent a condolences message to the State government.
The association also called on the appropriate authorities to investigate the immediate as well as the remote cause(s) of the mishap in order to get recommendations on how to stop the re-occurrence of such tragedy.
A 608 Coaster bus carrying 32 passenger with Reg no. UKP 78 XA was said to have fell inside the river while conveying members of Christ Peculiar Church of Nigeria, Enugu branch from a burial at Nguzu Edda back to Enugu.
In a statement signed Sunday in Abuja by the President of the AESID, Ambassador Pascal Oluchukwu, said his organisation recieved the shocking sad news of the vehicle accident and consequent loss of lives of Ebonyi people through drowning over the Akaeze-Ugwu River overnight on Friday, September 18, 2020.
“On behalf of the executive committee and the entire membership of the Association of the Ebonyi State Indigenes in Diaspora (AESID), I am writing to convey to the people and government of Ebonyi State, our deepest sympathies and wholesome condolences for the lives lost during the sad incident.”
While praying for the repose of the departed souls, Oluchukwu also prayed to Almighty God to grant the families and relations of the deceased the courage and fortitude to bear the sad loss.
“Let me take a moment to call on all people of goodwill, at home in Ebonyi, throughout the widths and breadths of Nigeria and across the Diaspora world, to come to the aid and support of the bereaved families with kind words as well as material and financial resources to enable them wither the storm that such a sudden death may have thrown them into.
“On behalf of AESID, we are sending our widows might in support of the bereaved family.
“We are calling on the Ebonyi State Executive Governor, His Excellency Engr. Dave Umahi, to declare a state-wide period of mourning and fly flags across the State at half-mast in honour of those that have lost their lives in this terrible calamity.
“We are also calling on the appropriate authorities to investigate the immediate as well as the remote cause(s) of this mishap and get a recommendation on how to stop the re-occurrence of the tragedy.”
Nigeria Records 221 New COVID-19 Cases
Nigeria has recorded 221 new COVID-19 cases.
The Nigeria Center for Disease Control (NCDC) disclosed this on Friday night.
Of the new cases, 59 were recorded in Lagos, 46 in Abia, 22 in the FCT, 20 in Gombe, 17 in Plateau, 11 in Rivers, seven in Bauchi, six in Benue, Ekiti and Imo, four in Kaduna, Kwara and Ondo, three each in Ogun and Osun and one each in Bayelsa, Edo and Kano.
The new cases bring the total infections in the country to 56,956.
48,305 have recovered and been discharged while 1,094 have unfortunately died.
Hon. Hamidu Sajo Lekki Gets Double Honour Awards
Hon. Hamidu Sajo Lekki the Member representing Yola north state constituency in Adamawa state house of Assembly Hon. Hamidu Sajo Lekki has been Honoured with Double award By G4 Media International
Alhaji Musa Yaro Speaking through Mr. Emmanuel Stephen the Leader of G4 media international and The official partner of the institute of criminal justice and criminology administration, the first criminal reform institute in Sub – Sahara Africa .
He described the nomination of Hon. Hamidu Sajo as a reward for services and national impact.
Alhaji Musa Yaro the Market chief of Jimeta ultra modern market in Yola north local government, describes the performance of Hon Sajo as equal to none as a member representing Yola north.
Alhaji Musa Yaro
Alhaji Musa Yaro said the nomination came as double Honour and additional value to a man of excellence and good representative of the good people of Yola north in the state Assembly.
He Said the Honour which has recognized the Best Legislator and voice of the Masses and coming from G4 media international and also followed by the Institute of Criminal justice and criminology administration.
“The double honour is given to an active performer of our today’s Democratic action member in the House who deserved this award at this moment of our political differences”,
Presenting the letter in Yola the Chairman G4 media international Emmanuel Stephen described Hon. Soja as a man worth and fits for the Double Award.
The Students , youths and good people of Yola north described Hon. Soja Lekki as a man with the love of his people.
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