At least 21 million jobs may have been disrupted by the Coronavirus, COVID-19 pandemic lockdown in Nigeria.
The Minister of Finance, Budget and Planning, Zainab Shamsuna Ahmed, made this known during a webinar organised by the Nigeria Economic Summit Group (NESG).
Ahmed who spoke through the Special Adviser to President Muhammadu Buhari, said, “21 million jobs could be affected by the pandemic and the economic sustainability plan will help mitigate against the effects of the lockdown and ensure stability through the support of MSME’s.”
NESG in a statement said the theme of the webinar was ‘Nigeria’s Fiscal Sustainability: Imperatives, Impediments and Options’ which was held by the Nigeria Fiscal Policy Roundtable of the NESG.
Further speaking, the minister said that the Gross Domestic Product, GDP will contract by four percent and could escalate up to eight percent, at worst.
Ahmed said revenue mobilization was important and that debt relief and external funding must be sought to achieve this.
NESG Board Chairman, Asue Ighodalo, said, the group was making impact in the success of the economy. He also said the Finance Act implemented earlier this year along with its components will help to improve the economy and cushion the effects of taxes.
The group raised a 10 point agenda that includes, government publishing revenue data annually to enhance transparency.
