Stabilizing the Nigerian economy in the face of the potential negative economic impact of the Covid-19‬

The House of Representatives, Federal Republic of Nigeria Speaker, Rep. Femi Gbajabiamila today, with the Senate President Dr. Ahmad Lawan and the National Assembly leadership met with the Minister of Finance, Hajia Zainab Shamsuna, the Minister of State for Petroleum, Timipre Sylva, the Central Bank Governor, Godwin Emefiele, and other head of agencies.

‪The meeting centred around coming up with ways of stabilizing the Nigerian economy in the face of the potential negative economic impact of the Covid-19‬

The Speaker said the House of Reps passed the Emergency Economic Stimulus Bill to alleviate the financial burden on citizens in response to the outbreak of COVID–19

The stimulus bill includes a tax rebate for companies who retain their staff during this phase, three months mortgage moratorium for public servants and civil servants, and a reduction in customs duties on medical supplies and protective gear aimed at fighting Covid—19 virus.

The Minister of Finance, Hajia Zainab Ahmed in her remarks applauded the House for initiating and passing the Emergency Economic Stimulus Bill, 2020.

"It seems we are working on the same path; we also have to look at incentives that employers can give to retain staff so that they don’t disengage staff and also to recruit new staff during this difficult time." 

The 2020 budget was reviewed downward to $30 per barrel. She said