The federal government wednesday lamented that COVID-19 has attacked all sources of Nigeria’s revenues.
Answering questions from State House correspondents after yesterday’s Federal Executive Council meeting, Minister of Information and Culture, Alhaji Lai Mohammed, said the disease had adversely affected global economy with $1 trillion lost in aviation industry alone.
According to him, with the lockdown of Lagos, Ogun and Abuja for several weeks and crude oil being sold at $18 per barrel, Nigeria’s losses are monumental.
“We are not just Nigerians; we are all witnessing what is going on in the world today. When the budget was passed in December last year, we all celebrated that the budget was passed for the first time in a good time to allow us to plan. We were very hopeful that this year, we will be able to achieve a lot.
“I remember that the benchmark for crude oil was $57 but from nowhere today we have COVID-19, which has brought every economy in the world to its knees. Nigeria cannot be an exception.