Nigerian Vice President Yemi Osinbajo on Thursday said the country is planning a survival fund and payroll support for artisans, private school teachers and small businesses.
“Through the Economic Sustainability Plan, the FG’s focus is to save jobs and create new ones,” Osinbajo said while taking questions at the ongoing Nigerian Bar Association Conference.
“Similarly, there is a survival fund and payroll support for artisans, private school teachers & small businesses,” he added.
The impact of coronavirus has really affected the country’s economy causing a spike in unemployment, inflation amongst several others.
Nigeria’s economy is facing collapse as it largely depends on oil exports. The oil markets have been on a downward trend as COVID-19 has crippled demand. Fuel prices fell and recorded 18-year low trading at less than 22 dollars per barrel and expected to go lower.