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Given the impact of COVID-19 on key macroeconomic variables, fiscal and monetary authorities took unprecedented measures to prevent any long-term damage to the growth prospects of the economy. The policy executives sought to stimulate economic activities through targeted interventions totalling N2.5 trillion. Cumulatively the intervention efforts represent about 3.5 percent of Nigeria’s GDP. The interventions focused on critical sectors such as agriculture, manufacturing, electricity, construction, small and medium enterprises and youth entrepreneurship. This last focal point is vital as COVID-19 has exacerbated the already bad situation of Nigeria’s youth unemployment with huge implica... Full story

27 January