President Muhammadu Buhari has directed the immediate commencement of the implementation of measures that will reflect current realities in the oil sector and respond to the emerging Coronavirus scenarios.

The measures which include: the review of the 2020 budget, prioritization of the health sector infrastructure so as to respond to the threats posed by the virus, securitization of government debt, revenue stabilization program and cost-cutting will effectively cater for the issues confronting the oil sector as well as the health sector.

Recall that on Wednesday, the Federal Government proposed to cut the 2020 budget size by N1.5 trillion from N10.59 trillion to N9.09 trillion. The Minister of Finance, Budget and National Planning, Zainab Ahmed who disclosed this said the movement is for the good of the country and the proposal has to be approved by the national assembly.