Nigeria plans steps to counter economic fallout of coronavirus
INTERNATIONAL – Nigeria’s fiscal and monetary authorities will announce measures in coming days to deal with the economic fallout from the coronavirus outbreak.
“We will not hesitate to deploy additional measures to shield the Nigerian economy from headwinds,” central bank Governor Godwin Emefiele said at a conference in the capital, Abuja, on Wednesday.
The International Monetary Fund has cut its projection for Nigeria’s 2020 economic growth to 2% from 2.5% due to plunging oil prices stemming from the coronavirus outbreak. The West African nation is the continent’s biggest producer and depends on crude for 90% of its exports.
Source: iol.co.za