Oil Price Crash: Governors to meet over budget, other economic issues

State governors under the auspices of Nigeria Governors’ Forum (NGF), will on Wednesday, March 25, 2020, meet to have a brainstorming session on the economic issues in Nigeria, as it affects their respective states and the country at large.

The meeting becomes sacrosanct as the effect of the oil price crash, which was because of the coronavirus outbreak, is having a ripple effect on the Nigerian economy.

Oil Price Crash: Governors to meet on budgetary and economic issues

In view of recent happenings around the world, Nairametrics understands that the worse is yet-to-be witnessed in Nigeria, should her leaders not brace up to curtail the deadly virus spread, and save the economy from collapsing.

Since the outbreak of the disease, which emanated from a city in China, Wuhan, industries are now shutting down, and workers are now being compelled to sit at home, a development bringing panic as economic experts and stakeholders are worried about the survival of the Nigerian economy and post-coronavirus pandemic.

Speaking on the forthcoming meeting between Nigerian governors, the Head, Media, Public Affairs, Abdulrazaque Bello-Barkindo, said the meeting is needful to address how the effect of the crash in the price of crude oil could be mitigated.

He added that the governors might take decisions on how they would run their budgets, especially with regards to payment of salaries, considering the crash in oil prices, which will lead to lower revenues or allocations from the Federal Government.

Bello-Barkindo said“The governors are meeting next week (this week). Maybe they will take a decision on that. I cannot comment on things that governors have not discussed. If they discuss it, I will get their perspective but for now, I cannot comment on what the governors have not discussed. 

“For now, they are meeting next week, which is very unusual. They met this week ( last week) but they have decided to schedule another meeting this week. I think it is to respond to various strange circumstances that have befallen the country. When they meet this week, we will have a definite answer on that.” 

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