Nigeria develops plan for revival of economy
By Nation
Mr Godwin Emefiele, the Governor of Central Bank of Nigeria (CBN), has reported that the apex bank has developed a three-year home-grown policy plan to revive the economy.
Emefiele, who announced the measures, said the Policy Response Timeline will guide Nigeria’s crises management, and orderly rebooting of the economy by relying on home-grown solutions.
He unveiled the plan in a report titled, “Turning COVID-19 Tragedy into an Opportunity for a New Nigeria’’.
He reported that the framework would come in three phases- immediate term policy of zero to three months; short-term policy priorities of zero to 12 months; and medium-term policy priorities of zero to three years.
The outbreak of the Novel Coronavirus Disease (COVID-19) in China, he said, had rapidly permeated and profoundly changed the world.
While the crisis is first and foremost a public health issue which has claimed the lives of over 123,600 people worldwide, and counting, the economic damages are unprecedented on several fronts.
He said the agricultural policies of the Federal Government are aimed at positioning Nigeria to become a self-sufficient food producer, creating millions of jobs, supplying key markets across the country and dampening the effects of exchange rate movements on local prices.
More