Lai Mohammed Tells How COVID-19 is Affecting Nigeria Revenue
The Minister of Information and Culture, Lai Mohammed revealed that the COVID-19 pandemic is having adverse effects on Nigeria especially in the area of finances and revenue.
Speaking at the statehouse while addressing correspondents, the minister confirmed that the impact is a serious one. He said that with Lagos, Abuja and Ogun on lockdown and no economic activity for several weeks and crude oil being sold for $18 per barrel, Nigeria is suffering greatly. According to him, they are parying for the oip price to rise to $30 per barrel.
Lai Mohammed also lamented about the closed border saying that now the border is closed, there is no way for Customs Service to make money for Nigeria. With the lockdown in major cities also, tax revenue from those cities both individual tax and from corporations have taken the bgigest hit.
As of Thursday morning, there are 11,166 confirmed cases of COVID-19 in Nigeria. A total of 3,329 have been discharged, while 315 deaths have been recorded.
Lai Mohammed Tells How COVID-19 is Affecting Nigeria Revenue