The lockdown extension in three of Nigeria’s major states has brought with it fears of financial hardships. In response, the Nigerian government has announced some measures to help ease the burden on individuals and businesses alike.
On a broader spectrum, several countries are setting up fiscal relief policies to help their citizens cope with the effects of the pandemic and according to the United Nations Conference on Trade and Development (UNCTAD), the current situation demands developing countries to “do whatever it takes” to save jobs, lives, and properties.
The Nigerian government has recently announced that it will be disbursing emergency funds to households in its National Social Register of Poor and Vulnerable Households as well as to low-income individuals.
Also, the Central Bank of Nigeria (CBN) has announced a ₦50 billion ($129.4 million) COVID-19 intervention loan for small and medium enterprises in various sectors that have a viable business opportunity in, or have been adversely affected by, the pandemic.
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