Nigeria: Buhari Sets Up Committee 'To Assess Impact of Coronavirus On 2020 Budget'

(File photo) Covid 19, Coronavirus

President Muhammadu Buhari on Monday set up a committee to access the impact of the coronavirus epidemic on Nigeria's 2020 budget and the economy in general.

The committee's responsibility will be to check how the dwindling price of crude oil caused by the outbreak will affect the country's economy.

The committee, chaired by the Minister of Finance, Budget and National Planning, Zainab Ahmed, will submit its report to the president tomorrow.

Other members are the Minister of State, Petroleum Resources, Timipre Sylva; the Governor of Central Bank of Nigeria, Godwin Emefiele; the Minister of State, Budget, Clement Agba and the Group Managing Director of the Nigerian National Petroleum Corporation, Mele Kyari.

Mrs Ahmed, while addressing state house correspondents after the meeting, said they (committee) would decide whether to reduce the budget benchmark of $57 per barrel.

"But, what that figure will be is what the committee will decide," she stated.

Mrs Ahmed said that in the event it became necessary to reduce the benchmark, "the committee will also recommend a reduction in the size of the N10.59 trillion budget".

She did not elaborate on the areas of the budget that could be affected by a cut.

More From: Premium Times

Don't Miss

AllAfrica publishes around 800 reports a day from more than 130 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.