Saudi Arabia, Nigiera, W. Price Lou discussed on Lagos Covid-19 Updates
You. That's the output for medication with this do you can do. We've seen Many schools trying to use the online system in many cases yes not being effective in a few cases yes it has been He's worked out of the experiences where the online system much the odds of music school some schools to catch up with loss time. So what do viral on? There would be like this crisis. It's as evidence that the current challenges may become the new normal. What are the scenarios that will confront us in the nearest future? And how will this impact the livelihood of Nigiera's? Do you think this scenarios would be festival? This would be starting on price movements because of course into sixteen cruella ladles into recession arrived. Burqas out of the session but one interesting thing about the pop up. He was just so we had e V ship recession visa. V ship recession such safety. Draw the line and save means you just wind down then you came out so we went into a recession in two thousand sixteen by the first quarter by the second quarter. Tony Seventeen Economy Radio Coloring Alto of recession. So but this time so many factors that I guess the the Komo meets also not dish onto the five W. Price Lou. I would like new. Remain a little You know this virus continues He's also the five and comical out so so scenarios would be based on on. How how what is for your price going forward into the second. How long can we sustain these economic? Look down and also I think more important. Dan Wilson needs to government intervention. What I'd be policies as to show that we limited the impacted negatively about those look down on these nets is all citizens household on all economic agents. So I think I'm basically that's Macho to determine whether we we remaining recession for a long time is is more lockdown itself so we we've we do restriction of movement on lockdown of month sentence sentences. I think that in itself is one key. One key activity of one key factor. That would drive economy down into a recession ensure that we stay there for quite a long time so what we are basically doing what we've been doing the last few months and injuries to save lives or seeing the coming. But I think it's very important that we we don't make it either. Our situation we do. We have to save lives. Steve The C. Licensee VLAD moves on the end of the recession or economic fresh on the top significant impact. On and do less of people people will lose their jobs who who most become poor and that's how they generational effects on livelihoods on the on the chew. Drain UNBORN GENERATION ON. The of course is also cited pickle. Crime Rate's crime rate's could also lead to loss of lives so you declaring situation. I think it's not going to be rosy furniture Going forward especially giving all the praise your points from the oil price baked lockdown as it went to the fact that clued production ninety is struggling to satellites Two trees also being affected five foreign investments COMMUN- on those who even look investments are being without you know at this time of uncertainty. I think that's one key that keep key factors that definitely bleed Determine how the economy would certainly AIDS looking? More like economy would be heat so the pushed on these people in the box being in there. How long are we going to stay in every session on how long what do we need to do to ensure that we? I would to reduce the number the length of of recession So so it means came would probably have a huge shift recession. So it's going to lose theater for a long time before so this can be offset if interventions meant interventions up properly structured and ensure that they reached those affected households and businesses. I think that's one of the Nigerian. Economy IS HEAVILY. Reliant on the oil sector and despite several efforts we seem not to have fully diversified economy. But what policy. Directions will be effective at this time to drive economic expansion and on the long term diversification devastation longtime immobile. Diversify here I mean you. You want to change. The structure of economy defined period of time. So a year is not something to be something that active shooter outdoor part of the problem. You're seeing now. We haven't done what we should have done but mind you let me see the I. I don't think that menderes programs poodle because of a couple of weeks apples because or reliance on Hulu because I can examples from countries like Saudi Arabia countries like Russia. We've got on these countries heavily dependent. Budo SAUDI ARABIA. For instance relies so much for. What's different between nature you up when you moved to see for the future so be have reserve so by GM or combined with his monkey side to become adequately finance government finance TV. Few hot teams that toward the we. We we don't have that. I mean Saudi Arabia disease tend to be barrows and enjoyed struggles to given to Tara's body so that tells you that even in terms of the oil itself. I we really rich to help you find not only reach. Why do we always think the problem? The problem itself. How we don't we haven't done what we need to do. Over the year so part of which is savings for the future acquiring. We even see how much it took awhile to to even get this over wolf on into appreciate the excess crude-oil account in challenge being he because he sees every money that comes into the edition common shared across the Tweety of government. So that's an easy when it tells you that we'd be ready to see for the future because when he's being seat dot the time. I remember this did go. They want that. Show one eight legal to start saving using the lower no of this lack consciousness about saving for the future for my remember. I one of the lead us ain't on handed you. We need these here. You're they will always be here that we don't have to see if we really it's already here to Sadat's mentality of those about don't have thought seasons coach John Winnie when we need these like these call. We have nothing to even use the code on me's diversified if oil council one percent duty. Pm Manufacturing accountable fifty percents of GDP funding from China. Account for seventy percent. Goldman of any maybe seven coming from taxes on cool at this time with the lockdown. Are you GONNA Tax Business? So you must have something to fall back to about savings coach. I think that's one thing so we often most and discuss about oil deemed appropriate sometimes than clues. That it's not just about Roy. Yes I agree. That doesn't have too much to lose it or ECON but all that sector shoot contribute as much through the east to to maybe X. reserves a crash on or to export earnings or even to go mentioning the economic indicates Keyed Clinic Indicators. But at the same time will we must be able to see for the rainy day. I think that's very key in terms of the policy. Response going forward what I think we need to do. I'd like to draw insights from the. GimMe Janet Comics Came jumping up. Keynes's you Fred to the Permanent Palma may twentieth century. So timing like these. We need to spend our way out of meant ensure that we we spend spend money in the right places. I gave it to us to be able to poor to even the Middle Income. People that have lost exhausted. Yeah savings because that's basically what he's been doing across the world countries know that this is this your design these teams and be tried as much as possible rates the pains of citizens on this axis and the UK for yourself. You come out of the business or knife. He can do this season. As fake nine counties Larry's you can go online logic counseling and then your. Your businesses will be supported in several countries. We've seen been handing cash to seat citizens you know that that needs to survive on at this point so I think these are things that we need to take seriously and it's not just about Nelson billions.