Experts list ways of overcoming COVID-19 induced economic woes

Ndume asks Buhari to set up fresh palliatives task force 
Immediate past Director General of Nigeria Employers Consultative Association (NECA), Segun Oshinowo, has advocated the need for the Federal Government to adopt a home-grown response to the COVID-19 pandemic.

He noted that it was wrong for the country to use what he described as ‘cut and paste’ palliative measures adopted by developed economies.

He said the developed economies had put in place social security infrastructure long before the outbreak of the pandemic with reliable data and had been practiced over a long period of time, while Nigeria lacked such infrastructure, which underscores why the country should adopt a workable palliative system in tandem with current realities.

“Our current situation is paying for our past failings. Our failing to build social infrastructure, which would have come handy at this time to tackle the socio-economic shocks occasioned by COVID-19.

“I think we should not lose that lesion because we are not only living for today, but for tomorrow. This explains why the developed economies have been able to do much better with the measures they have come up with to contain the spread of COVID-19.

Also, a research Professor of Technology Management at the Obafemi Awolowo University (OAU), Ile Ife, Francis Ogbimi, stressed that Nigeria should use its external reserves to spur the economy.

Meanwhile, representative of Borno South Senatorial District, Mohammed Ali Ndume, has urged President Muhammadu Buhari to urgently dissolve the Palliatives Distribution Committee (PADC) led by Minister of Humanitarian Affairs and Disaster Management, Sadiya Farouk.

Ndume, who is Senate committee Chairman on Army, gave the charge in Maiduguri residence, while briefing journalists on alleged lopsided disbursement of palliatives to the poor and vulnerable, alleging that activities of the Sadiya led-committee were fraudulent and should be investigated immediately.

He said Buhari’s goodwill to reach out to the poor with palliatives amid the COVID-19 pandemic and beyond might be eroded by the nepotism, corruption and sycophancy around the President.

Ndume insisted that Farouk has failed to carry out her job in a ‘transparent and equitable disbursement exercise’ across the country, describing the manner and way of distributing the palliatives as fraudulent.

“We have received several complaints and it’s very unfortunate. I’m, therefore, calling for immediate disbandment of the humanitarian committee headed by the Minster of Humanitarian Affairs,” he added.