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Experts Advice FG On Using COVID-19 Support Funds To Fix Infrastructure Deficit In Nigeria

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Experts Advice FG On Using COVID-19 Support Funds To Fix Infrastructure Deficit In Nigeria

 

Following the declaration that the Private Sector Coalition Against COVID-19 has raised over N25.8bn according to the Spokesperson for the Central Bank of Nigeria, Isaac Okoroafor. Financial experts have adviced Federal government to use part of the money to fix infrastructure in the country.

The Managing Director of Mutual Capital International Limited, Afeez Ismaila noted that the unexpected outbreak of the corona virus has adversely impacted on the Global and Nigerian economies, as this pandemic presents a difficult and challenging time for the whole world, leading to the shut down of three economic capital cities in Nigeria.

In a chat with BlackBox Nigeria, the Manager stated that it’s worthy that the Federal Government, State Government, Private Organizations and High Networth Individuals have provided financial resources and materials to cushion the effect of this pandemic on the Nigerian citizen. He therefore urged that more should be done to address the infrastructural deficit in the country in this period.

”It is imperative for government to ensure that certain percentage from the basket of funds contributed so far be used to finance the road and power infrastructural deficit in the country. Because if the issue of the infrastructural deficit is not critical address alongside with the pandemic, it will be like a situation where one travels 100 kilometres to fetch water from a river and at arriving at home pours the water in a basket. Hence we should look in the direction of the opportunities that lays ahead when this pandemic is over and not be drowned in the challenges it brings.”

”A PESTLE analysis of coronavirus pandemic and implications on post-COVID -19 businesses in Nigeria (references: muslimnews.com.ng and WHO) published on April 15, 2020, via BlackBox Nigeria shows clearly that there are new opportunities for Nigerians to access. Good roads and regular power supply will definitely serve as enablers for us to achieve an all-inclusive growth, ” he said.

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