FG To Take Advantage of Local Resources to Create Jobs In COVID-19 Recovery Plan

Vice President Yemi Osinbajo on Saturday said the federal government has planed to use local resources and create jobs, in order to revive the economy as the country struggles with the massive effects of COVID-19 pandemic.

Vice President Osinbajo made the this known during his appearance through video conferencing at the Platform, an annual meeting initiated by the Covenant Nation.

Nigeria has recorded over 2,000 cases of the deadly COVID-19 and 68 deaths, according to the Nigeria Centre for Disease Control (NCDC).

To curb the spread of the virus, the federal government has enforced lockdowns order in three state Lagos, Ogun and the FCT  while state governments have instituted the level of lockdown has impacted the economy negatively.

The novel COVID-19 pandemic has also contributed to the drastic fall of international oil prices, which has led to the crippling of Nigeria’s main source of revenue.

The country has requested for help from the International Monetary Fund (IMF) and the homegrown Sovereign Wealth Fund in order to keep the country's foreign reserves and expenditure capacity afloat.


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