In the face of a second wave of COVID-19 infections now sweeping across many European and American countries and the imposition of new regimes of restrictions, President Muhammadu Buhari has said the Nigerian economy cannot withstand a second lockdown.
Buhari, who expressed his view through his Twitter handle,@MBuhari this Thursday said: “Looking at the trends in other countries, we must do all we can to avert a second wave of COVID-19 in Nigeria.
“We must make sure that our cases, which have gone down, do not rise again. Our economy is too fragile to bear another round of lockdown.”
The lockdown imposed on several parts of Nigeria, according to economic observers, took a heavy toll on the country’s economic life. Hundreds of thousands of businesses, particularly, small and medium scale, were shut down, costing the country hundreds of billions of naira in revenue losses.
Many companies laid off most of their workers citing inability to pay salaries. As of today, some of these companies are still wobbling seriously as they try to recover.