President Muhammadu Buhari Thursday directed the Ministry of Finance, Budget and National Planning to prioritize payment of salaries as well as implement measures that protect the poor and the vulnerable as the Coronavirus hits the economy globally.
The President has also directed the ministry to ensure that critical infrastructure like roads, rails are protected as much as possible and use local inputs so that the country retains value within her economy.
Mrs Zainab Ahmed, Head of Presidential Committee to review the impact of coronavirus on the economy, who made the disclosure while fielding questions from State House Correspondents in Abuja said the committee updated Mr President on current global economic happenings and the need to mitigate the consequences of the lockdown as it further slows down the economy.
Another member of the committee, Minister of State Petroleum Resources, Timipre Sylva, said the economy is not in the best of shape due to COVID-19 and oil prices are collapsing every day, hence the need for the President to be constantly briefed. The Central Bank of Nigeria (CBN), Governor, Mr Godwin Emefiele, said there is need to salvage the economy from an envisaged recession.
Our Correspondent, Raliat Adenekan reports that other members of the committee that attended are Minister of State, Budget and National Planning, Clement Agba and the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mela Kyari.