President Buhari on Sunday directed the immediate implementation of a three-month repayment moratorium for all TraderMoni, MarketMoni and FarmerMoni loans as part of policy measures to ameliorate the extended impact of coronavirus pandemic on citizens.
The President also directed that a similar moratorium be given to all Federal Government funded loans issued by the Bank of Industry, Bank of Agriculture and the Nigeria Export Import Bank.
The President gave the directives in his first address to the nation on the ravaging coronavirus pandemic, government policy responses so far and new measures.
For on-lending facilities using capital from international and multilateral development partners, the President directed development financial institutions to engage the development partners and negotiate concessions to ease the pains of the borrowers.
He also directed that the conditional cash transfers for the next two months be paid immediately to Nigeria’s most vulnerable.
Internally displaced persons will also receive two months of food rations in the coming weeks, he said.
The President further urged all Nigerians to take personal responsibility to support the vulnerable within their communities, “helping them with whatever they may need.”
He assured that government will continue planning for all eventualities as “we all pray for the best possible outcome.”
He said this was why he directed that all Federal Government Stadia, Pilgrims camps and other facilities be converted to isolation centers and makeshift hospitals.
He assured that government will avail all necessary resources to support the response and recovery.
“We remain committed to do whatever it takes to confront Coronavirus in our country,” the President further assured.