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COVID-19: We Must Reduce The Cost Of Governance, Says Fayemi

Governor Fayemi says Nigeria should reduce non-core bills and help small companies.

 

For Nigeria to emerge stronger from the COVID-19 pandemic, it should take actions to rapidly handle its short-term challenges together with reducing prices, the Chairman of the Nigeria Governorship Discussion board (NGF), Dr Kayode Fayemi, has stated.

“With a reduction in revenue, we must reduce the cost of governance,” Dr Fayemi, who can be the Governor of Ekiti State, stated throughout an look on The Platform on Saturday.

“Aside from the passage of supplementary budgets by the Federal and state governments, we have to discover numerous suggestions on streamlining ministries, departments and businesses of presidency to scale back wastage.

“We should even be able to get rid of or minimise non-core bills. And likewise be certain that the wage invoice in any respect ranges of presidency is accompanied by accountability, productiveness and effectiveness of our workforce.”

The COVID-19 pandemic has disrupted life globally, infecting greater than three million individuals and claiming greater than 230,000 lives.

In Nigeria, there have been 2,170 confirmed circumstances with 68 deaths amid lockdowns and motion restrictions. Additionally, the value of oil, Nigeria’s largest supply of earnings, has plummeted.

Though the influence of the pandemic has been devastating, Governor Fayemi, who appeared on The Platform by way of video convention from his workplace in Ekiti says it additionally presents Nigeria alternatives.

“There is an immediate opportunity to support our businesses, particularly SMEs, support our women to rebuild family structures, while modifying the conditions for existing loan guarantees and creating new opportunities that can encourage financial institutions to support small businesses recovering from the economic slowdown,” he stated.

“In order to boost consumption, the government can also allow employees who have lost their jobs to access a portion of their pension contributions earlier than the period stipulated in the Pension Reforms Act.”

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