Coronavirus : FG To Announce Plans For Economy

In News 2020-03-13 18:04:36
Coronavirus : FG To Announce Plans For Economy
Coronavirus : FG To Announce Plans For Economy

By Kenneth Tobi

 

The Federal Government of Nigeria is expected to approve several measures to help cushion the negative impact of dwindling oil prices and the economic impact of the Covid-19 pandemic.

 

The Minister of Finance, Budget and National Planning, Zainab Ahmed while speaking to State House Correspondents on Friday, called for calm as the Federal Government is prepared to ensure that the economy runs smoothly.

 

The minister revealed that about 285 billion Naira has so far been released to some Ministries, Department and Agencies to fund key capital projects.
 


Governor, Central Bank of Nigeria (CBN), Godwin Emefiele also speaking to State House Correspondents cautioned foreign exchange market speculators to desist from panic buying.

 

The CBN Governor reassured that forex would be made available to legitimate businesses, importers as well as travellers who approach their respective banks. 


 
He noted that the apex bank would continue to ensure that the interest rate is reduced to encourage the private sector to access funds at low rates to finance businesses.