President Muhammadu Buhari has expressed confidence that the economy would bounce back strongly, given the right policy responses to the uncertainties created by the coronavirus disease (COVID-19) pandemic.
He said that since the government could not wait for things to get better on their own, it had formulated appropriate policies and implemented them steadily to address the challenges head on.
“So far, government has implemented a wide range of fiscal, prudential and monetary measures that squarely address four key necessities to ensure sufficient liquidity to support government programmes for saving lives and livelihoods, maintain stability of the financial system, ensure continued delivery of financial services to the public and shore up confidence, and cushion economic activities,’’ the president said.
Buhari made the remarks yesterday while declaring open the 13th annual banking and finance conference in Abuja themed ‘’Facilitating a Sustainable Future-The Role of Banking and Finance.
According to Buhari, the banking system, which is a critical component of the financial sector, is not immune against the potential impact of the current economic situation as banks have to restructure potentially bad loans in every sector of the economy.