Buhari made the disclosure during a live broadcast on Sunday. He directed that a three-month repayment moratorium for all TraderMoni, MarketMoni and FarmerMoni loans be implemented with immediate effect. The President also ordered that conditional cash transfers for the next two months be paid immediately to the vulnerable in society.
“For residents of satellite and commuter towns and communities around Lagos and Abuja whose livelihoods will surely be affected by some of these restrictive measures, we shall deploy relief materials to ease their pains in the coming weeks.
“ Furthermore, although schools are closed, I have instructed the Ministry of Humanitarian Affairs, Disaster Management, and Social Development to work with State Governments in developing a strategy on how to sustain the school feeding program during this period without compromising our social distancing policies.
The Minister will be contacting the affected States and agree on detailed next steps. “ I have 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.
“ For on-lending facilities using capital from international and multilateral development partners, I have directed our development financial institutions to engage these development partners and negotiate concessions to ease the pains of the borrowers.
“Our Internally displaced persons will also receive two months of food rations in the coming weeks. ”We also call on all Nigerians to take personal responsibility to support those who are vulnerable within their communities, helping them with whatever they may need. “As we all pray for the best possible outcome, we shall continue planning for all eventualities.”