Covid-19 Stimulus Package: Stabilizing the economy amidst the pandemic

The Corona virus pandemic remains the top headline in all media channels, affecting the old and young and causing a downturn in economic activities around the World.

However, to reduce the spread of the virus and track those that might be carrying the virus in Nigeria, the Federal Government imposed a 14-day lockdown in few states including the FCT, which began on the 30th of March 2020.

Consequently, the lockdown has taken a toll on the activities of Micro, Small and Medium Enterprises (MSMEs) as consumption habits have changed and only certain categories of businesses are allowed to carry on their activities. Thus, people may ask questions such as; what happens to the businesses on lockdown, how will they survive, how will they provide for their families and what is the government doing to ease their plight.

In its proactive measures to provide answers to the questions above, the Federal Government through the CBN, introduced a Covid-19 stimulus package to help households and small businesses hardest hit by the adverse impact of the coronavirus pandemic.

These packages come in the form of food packs and credit facilities and can be assessed via which is the Nirsal Microfinance bank website.

As the Federal government gradually continues to make provisions for all categories of businesses under the Covid-19 stimulus package, we must ensure to take the necessary precautions to prevent the disease and stay healthy, as the saying goes: “where there is life, there is hope”

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