The Governor of Ekiti State and Chairman, Nigeria Governors Forum, NGF, Dr. Kayode Fayemi, has stated that for Nigeria to emerge stronger from the Covid-19 pandemic, it must take actions to quickly address its short-term challenges, including cutting costs on wasteful spending by Leaders in government.
“With a reduction in revenue, we must reduce the cost of governance”, Governor Fayemi said during an appearance on The Platform, on Saturday.
He added: “Apart from the passage of supplementary budgets by the Federal and State Governments, we need to explore various recommendations on streamlining Ministries, Departments and Agencies of government, to reduce wastage.
“We must also be ready to eliminate or minimise non-core expenses. And also ensure that the wage bill at all levels of government, is accompanied by accountability, productivity, and effectiveness of our workforce.”
Governor Fayemi, who appeared on The Platform via video conference from his office, in Ekiti State, noted that the current coronavirus pandemic, although has great negative economic impacts, also offers Nigeria some opportunities.
His words: “There is an immediate opportunity to support our businesses, particularly SMEs, support our women to rebuild family structures, while modifying the conditions for existing loan guarantees, and creating new opportunities that can encourage financial institutions to support small businesses recovering from the economic slowdown.
“In order to boost consumption, the government can also allow employees who have lost their jobs, to access a portion of their pension contributions earlier than the period stipulated in the Pension Reforms Act”, he said.