x

COVID-19: Bailout funds will boost economy – capital market operator

A Capital Market operator, Mr Boniface Okesie, says there is need for the Federal Government to urgently give COVID-19 bailout funds to local companies to reposition the economy.

Okesie, President, Progressive Shareholders Association of Nigeria, told the News Agency of Nigeria (NAN) in Lagos on Tuesday that quick bailout would save businesses.

“ The funds are expected to give lifeline to many troubled indigenous companies as the coronavirus pandemic is not immune to any sector of the economy.

`Releasing the funds will recalibrate businesses,’’ he said.

According to him, the Federal Government might borrow more to execute the capital component of the 2020 Budget.

“Times have really changed, as the price of crude oil in the international market has been dwindling, owing to the pandemic.

“The pandemic affected demand for crude oil, which made the government to experience decline in projected revenue,” he noted.

He added that the Federal Government should give more attention to the health sector so as to save more lives.

“It is only a healthy workforce that can contribute adequately to national development,” he said. (NAN)

Hot this week

Editors Urge Government To Create Safe, Enabling Environment For Journalists

· Ask security agents to find missing Vanguard journalist As...

EXCLUSIVE: Buhari orders probe of Isa Funtua, AMCON over keystone and Etisalat

Following the controversy generated by the leading opposition party,...

6 Signs your boyfriend thinks you are ugly -Take note of No. 2

They say there are three kinds of people; the...

2023: South-East, Middle Belt Forum Endorses Peter Obi

The South-East and Middle Belt Forum has endorsed the...

Ibom Air’s Essienette Elected 1st Chairman of NIMN Uyo Chapter

By Ogenyi Ogenyi, Uyo Mrs. Aniekan Essienette, FNIMN, Group Manager,...

JUST IN: CDCFIB Shifts Recruitment Portal Opening to July 14

The Civil Defence, Correctional, Fire and Immigration Services Board...

JUST IN: Tinubu to Sign Four Landmark Tax Reform Bills Into Law Thursday

President Bola Tinubu will on Thursday, June 26, sign...

BREAKING: 11 PDP NWC Members Reject Anyanwu’s Return as National Secretary

Crisis within the Peoples Democratic Party (PDP) has deepened,...

NCoS, NAS PC Partner to Rehabilitate Inmates, Curb Crime in Bayelsa

By Amgbare Ekaunkumo, Yenagoa The Nigerian Correctional Service (NCoS), Bayelsa...

Supreme Court Dismisses Appeal in Ogwashi-Uku Royal Dispute

By Anne Azuka The Supreme Court of Nigeria, sitting in...

Delta Govt Applauds Asaba NUJ Chapel for Solar Power Project

By Anne Azuka The Delta State Government has commended the...

Top 3 Insurance Companies Driving Digital Innovation in Nigeria (2025)

For years, insurance in Nigeria was viewed with skepticism—often...
spot_img

Related Articles

Popular Categories

spot_imgspot_img