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States should lead in economic recovery and sustainable growth On By Kayode Fayemi ONE of the most significant consequences of the global public health crisis, the novel coronavirus, was the adverse effect that it had on economies around the world. As the world faced the greatest public health challenge in most of our lifetimes, we also grappled with the economic effects of lockdowns: limited travel and economic activity, and especially, for oil producing countries like Nigeria, the rapid decline in crude oil prices. Our economic condition was worsened not just by the decline in oil prices, but the weather and security challenges that hurt agriculture, the mainstay of the Nigerian economy. This meant we suffered the double whammy of lower government revenues, driven by the crash in oil price; while shocks in critical sectors also meant a contraction in the economy.

Cross riverEkiti stateAbuja federal capital territoryKayode fayemiAlfred tennysonJulius caesarWilliam shakespeareCentral bankNational sovereign investment authorityNigerian governors forumPresidential enabling business environment councilAfrican development bankVanguard mediaNational veterinary research institute in vomPromasidor nigeriaNigerian investment promotion commission