By Johnbosco Agbakwuru – Abuja
President Muhammadu Buhari on Friday said that the outbreak of the Coronavirus pandemic (COVID-19) has put humanity and democracy under threat.
President Buhari also said that despite the challenges, Nigeria’s external reserves grew from $33.42 billion in the first quarter of 2020 to $36 billion.
The President stated this in his nationwide broadcast to mark the Democracy Day on June 12.
According to him, “We have witnessed eleven quarters of consecutive GDP growth since exiting recession. The GDP grew from 1.91% in 2018 to 2.27% in 2019 but declined to 1.87% in the first quarter of 2020 as a result of the decline in global economic activities due to the COVID-19 pandemic.
“Every single economy in the world has suffered a decline. Ours has been relatively moderate
“In order to stabilize the economy, the Monetary Authority took steps to build the external reserves which resulted in improved liquidity in the foreign exchange…
Source: Vanguard Newspaper