HomeBusinessCOVID-19: Bailout funds will boost economy – capital market operator

COVID-19: Bailout funds will boost economy – capital market operator

A Capital Market operator, Mr Boniface Okesie, says there is need for the Federal Government  to urgently give  COVID-19  bailout funds to local companies to reposition the economy.

Okesie, President, Progressive Shareholders Association of Nigeria, said in Lagos on Tuesday that  quick bailout would save businesses.

“ The funds are  expected to give lifeline to many troubled indigenous companies  as  the coronavirus pandemic is not immune to any sector of the economy.

`Releasing the funds will recalibrate businesses,’’  he said.

According to him, the Federal Government might borrow more to execute the capital component of the 2020 Budget.

“Times have really changed, as the price of crude oil in the international market has been dwindling, owing to the pandemic.

“The pandemic affected demand for crude oil, which made the government to  experience decline in  projected revenue,” he noted.

He added that the Federal Government should give more attention to the health sector so as to save more lives.

“It is  only a healthy workforce that can contribute adequately to national development,” he said.

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