Nigerian economy will bounce back, says Buhari
The President of Nigeria Muhammadu Buhari has expressed his confidence in new strategies implemented by the government to solve the threat imposed on the Nigerian economy by the coronavirus saying it will return to normal.
Buhari said this on Tuesday, September 15, 2020, in the opening of the 13th annual banking and finance conference in Abuja themed ‘’Facilitating a Sustainable Future-The Role of Banking and Finance.’’
According to the President, the government has implemented strategies which will be used to tackle the threat on the economy to keep the county moving again.
“So far, the government has implemented a wide range of fiscal, prudential and monetary measures that squarely address four key necessities to ensure sufficient liquidity;
"To support government programmes for saving lives and livelihoods, maintain the stability of the financial system, ensure continued delivery of financial services to the public and shore up confidence, and cushion economic activities,’’ the president said.
Buhari added that the recent slow in the improvement of the economy has been because of the uncertainty of the duration of the coronavirus but said that with new strategies, he expects the economy to return to normal.
The Minister of Finance and National Planning, Zainab Ahmed, who represented the president said: “With the current partial lifting of the lockdown, there are positive indications that some businesses are getting back to pre-pandemic levels.
"However, the uncertainty over the duration and intensity of the pandemic as well as its impact on the economy continues to be a cause for concern.
“It is expected that in post-COVID-19, the financial sector should return to normal functioning without relying on the regulatory relaxations and other measures as the new norm.’’
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