President Muhammadu Buhari has warned that Nigeria’s economy cannot withstand another round of lockdown for COVID-19.
In a tweet today, apparently directed to members of the Presidential Task Force on COVID-19, Buhari urged them to ensure that Nigeria averts a second wave of COVID-19.
“We must make sure that our cases, which have gone down, do not rise again. Our economy is too fragile to bear another round of lockdown”, he wrote.
The last time Nigeria locked down for COVID-19, it sent the economy into recession, the second time in less than five years.
Oil prices crashed leading to foreign earnings contraction, devaluation of Naira and inflation.
Manufacturers alone estimated unsold inventory as close to N420 billion, about one billion dollars.
More job losses occurred.
The coronavirus pandemic is right now raging in the USA and Europe, causing serious economic disruptions.
France will begin another round of lockdown on Friday, while Germany said it will shutdown from November.