{"id":20765,"date":"2020-06-11T14:23:54","date_gmt":"2020-06-11T14:23:54","guid":{"rendered":"http:\/\/watchdogplusmedia.com\/?p=20765"},"modified":"2020-06-11T14:25:52","modified_gmt":"2020-06-11T14:25:52","slug":"39m-nigerians-may-lose-jobs-in-2020-osinbajo","status":"publish","type":"post","link":"https:\/\/watchdogplusmedia.com\/?p=20765","title":{"rendered":"39m Nigerians may lose jobs in 2020 \u2013Osinbajo"},"content":{"rendered":"\n
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The Vice President, Yemi Osinbajo<\/a> has painted a grim picture ahead for many after predicting that unemployment may rise to 33.6% or about 39.4 million people may end up losing their jobs by the end of 2020.<\/p>\n\n\n\n

Osinbajo who revealed this on Thursday while presenting the post COVID-19 Economic Sustainability Plan to President Muhammadu Buhari at the Presidential Villa, Abuja, said that such huge job loss may occur if the country \u201cfails to take prompt preemptive measures\u201d.<\/p>\n\n\n\n

According to Osinbajo, with a severe downturn in oil earnings, the country would still have a shortfall of about N185 billion every month, in the amount available for allocation to the three tiers of government.<\/p>\n\n\n\n

He said: \u201cIn addition, the inevitable mandatory lockdowns and social distancing measures put in place to curb the spread of COVID-19<\/a> have had a severe negative impact on farms and factories, as well as on trade, transport and tourism.<\/p>\n\n\n\n

\u201cSeveral projections, including those done by the NBS on behalf of the Economic Sustainability Committee, showed: a severe downturn in our oil earnings, as a result of which, even with oil price at 30 dollars a barrel, we would still have a shortfall of about N185 billion every month, in the amount available for allocation to the three tiers of Government.<\/p>\n\n\n\n

\u201cUnemployment may rise to 33.6% or about 39.4 million people by the end of 2020, if we fail to take prompt preemptive measures.<\/p>\n\n\n\n

\u201cMillions more will fall into extreme poverty, before the pandemic ends. \u201cGDP may fall to between minus 4.40% and minus 8.91%, depending on the length of the lockdown period and strength of our economic response,\u201d Osinbajo concluded.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Vice President, Yemi Osinbajo has painted a grim picture ahead for many after predicting that unemployment may rise to 33.6% or about 39.4 million people may end up losing their jobs by the end of 2020. Osinbajo who revealed this on Thursday while presenting the post COVID-19 Economic Sustainability Plan to President Muhammadu Buhari at the […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"none","_mi_skip_tracking":false},"categories":[27,21],"tags":[],"yoast_head":"\n39m Nigerians may lose jobs in 2020 \u2013Osinbajo » WatchDog Plus Media<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/watchdogplusmedia.com\/?p=20765\" \/>\n<meta name=\"author\" content=\"Odofin\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/watchdogplusmedia.com\/?p=20765#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/watchdogplusmedia.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"COVID-19\",\"item\":\"https:\/\/watchdogplusmedia.com\/?cat=27\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"39m Nigerians may lose jobs in 2020 \u2013Osinbajo\"}]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"39m Nigerians may lose jobs in 2020 \u2013Osinbajo » WatchDog Plus Media","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/watchdogplusmedia.com\/?p=20765","author":"Odofin","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"BreadcrumbList","@id":"https:\/\/watchdogplusmedia.com\/?p=20765#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/watchdogplusmedia.com\/"},{"@type":"ListItem","position":2,"name":"COVID-19","item":"https:\/\/watchdogplusmedia.com\/?cat=27"},{"@type":"ListItem","position":3,"name":"39m Nigerians may lose jobs in 2020 \u2013Osinbajo"}]}]}},"rttpg_featured_image_url":null,"rttpg_author":{"display_name":"Odofin","author_link":"https:\/\/watchdogplusmedia.com\/?author=2"},"rttpg_comment":0,"rttpg_category":"<a href=\"https:\/\/watchdogplusmedia.com\/?cat=27\" rel=\"category\">COVID-19<\/a> <a href=\"https:\/\/watchdogplusmedia.com\/?cat=21\" rel=\"category\">Economy<\/a>","rttpg_excerpt":"The Vice President, Yemi Osinbajo has painted a grim picture ahead for many after predicting that unemployment may rise to 33.6% or about 39.4 million people may end up losing their jobs by the end of 2020. Osinbajo who revealed this on Thursday while presenting the post COVID-19 Economic Sustainability Plan to President Muhammadu Buhari at the…","_links":{"self":[{"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/posts\/20765"}],"collection":[{"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=20765"}],"version-history":[{"count":-3,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/posts\/20765\/revisions"}],"wp:attachment":[{"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=20765"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=20765"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=20765"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}