At least 39.4 million Nigerians are likely to lose their jobs by the end of the year 2020, if the government “fails to take prompt preemptive measures.” Vice President, Yemi Osinbajo has said.
Osinbajo made this known while presenting the post COVID-19 Economic Sustainability Plan to President Muhammadu Buhari at the Presidential Villa, Abuja, on Thursday
The post-COVID-19 Economic Sustainability Plan was set up to address and cater for the impending crisis that may arises as a result of the COVID-19 pandemic on country’s economy.
He explained that despite the severe downturn in Nigeria’s oil earnings, Nigeria would still experience a shortfall of about N185 billion every month.
Osinbajo said the imposed lockdown and social distancing rules had a negative impact on the economy.
He said the rules have affected the farms and factories, as well as on trade, the transport industry and tourism.
“Millions more will fall into extreme poverty, before the pandemic ends.” he said