by Admin Jun 04, 2020

FG opens up on how COVID-19 is affecting Nigeria financially

The Federal Government has explained how the COVID-19 pandemic is affecting the country’s revenues.

The Minister of Information and Culture, Lai Mohammed, while answering questions from State House correspondents after yesterday’s Federal Executive Council (FEC) meeting, said the impact was serious.

According to Mohammed, with Lagos, Ogun and Abuja locked down for several weeks and crude oil being sold at $18 per barrel, Nigeria suffered huge losses.

“As a matter of fact, we are praying that the crude will go to $30 per barrel. All sources of revenue have been attacked by COVID-19. When we lock our borders how will goods come in? How will customs make money for the country?