Post-COVID-19: Over 39 million Nigerians to become jobless, others will fall into extreme poverty – Osinbajo
Vice President Prof. Yemi Osinbajo, has said that over 39.4 million people may lose their jobs in Nigeria by the end of 2020, if the government “fails to take prompt preemptive measures.”
The Vice President spoke on Thursday as he presented the post COVID-19 Economic Sustainability Plan to President Muhammadu Buhari at the Presidential Villa, Abuja.
The post-COVID-19 Economic Sustainability Plan was embarked to mitigate the impact of the COVID-19 pandemic on country’s economy.
Osinbajo added that, with a severe downturn in Nigeria’s oil earnings, the country would still have a shortfall of about N185 billion every month.
The Vice President explained that the mandatory lockdowns and social distancing measures rules imposed by the government due to the Coronavirus pandemic have had a severe negative impact on the economy.
According to him, the rules have affected the farms and factories, as well as on trade, the transport industry and tourism.
“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 dollars 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,” the VP said.
“Unemployment may rise to 33.6% or about 39.4 million people by the end of 2020, if we fail to take prompt preemptive measures.
“Millions more will fall into extreme poverty, before the pandemic ends.”
He further explained that GDP may fall to between minus 4.40% and minus 8.91%, which, according to him, is depending on the length of the lockdown period and strength of the country’s economic response.
Okay
Why bad taik from osibanjo
okay…but is d FG going to fold arms and watch this happen.. the ball is in ur court
It is well
It’s well
Nice one
How if the president can give fair hearing to the proposal. 9ja iz too good@#kiv.forget.
kkkkkkkkkk
God will never allow such thing to happen
Honourable president please look into this statement. Is too expensive and deep
OK
Its only God that can save us
Okay
Hmmm
This is serious
God’s intervention is needed!
Hmmm
Fact then what’s the government doing, projecting to alleviate poverty
Hmm
Hmm, all will be well
Hmm . . . .This is serious
K
Great news
Too bad
Okay
Too bad
Hmmm
Ok
Sooo bad
It shall be well
Why not do something about and you are predicting what will happen.
Are you not capable of averting the poverty?
Okay
Ok
Nigeria scatter scatter, everything jaga jaga,posa posa
Great news
Okay
Ok
Ok
Thanks for this lovely update
Okay
As if they had jobs to start with
K
Truth
It’s a fact
That’s right
Good
ok
Okay
This is serious
That’s not good news at all
lol
this government should be ashamed
they have failed us
they have nothing to offer
jobless
covid 19
nigerians
poverty
unemployment
osibanjo
info
news
koko
update
God day for us
We go survive
247 got us
Okay
God will bless us
No problem
Pls FG do something
Seriously
Wonderful..
Infact
I refuse to hear that look at the government we have instead of they will find a solution for it not to happen and they are just announcing what I don’t know
ok
Yeah that is true
Hmmm, i fear for the future of this country
Hmm! Got help out economy oo
Ok
in that regards, federal government should do something fast pls
OK
Ok
ok
That good
Nah only God fit help us
Nawa
Good one
K
All will be well
all is good
ok
May God help us all in Nigeria.
It is well o
Na soo
This are no good stories, what’s Gov. doing ahead?
Okay
Better
Nice
VP, why are contradicting the job policy you spoke of.