The Federal Government has raised the fear that except something urgent is done, about 39.4 million Nigerians may be jobless by the end of the year as a result of the impact of the COVID-19 pandemic.
It also expressed the fear that millions more may slide into extreme poverty before the pandemic ends.
Vice-President Yemi Osinbajo painted the gloomy picture on Thursday while presenting the report of the Economic Sustainability Committee to the President, Major General Muhammadu Buhari (retd.).
Buhari set up the committee on March 30, 2020 in response to what was then becoming a threat of the most severe economic downturn in the country’s history, largely caused by the pandemic.
Its terms of reference include to develop a clear economic sustainability plan in response to challenges posed by the COVID-19 pandemic and to propose monetary policy measures in support of the plan.