The economy is grinding to a halt. Most countries have either closed their borders or are trying to close.
Productions have stopped in many countries. Toyota just shut down its company in Europe. China, the only country that has recovered from the virus is yet to begin production in full scale so many countries that depends on China for components and finished products will have to wait. Flights have been canceled even cargo flights were not spared. Simply put, The world economy has shut down.
The world did not prepare for this. The financial market is down and the stock markets hav been hit the highest.
Yet, countries are planning post -corona virus economy. How can we start over again?
Stimulus are being put in place for small scale companies which are the back bones of every economy apart from Nigeria. Nigeria has no economy.
Some big companie may not recover after.
In Nigeria here, how do we start and how do we end?
If i was your president, which i pray to be one day, i would set up an economy team amid the virus and after. One thing you can't take away, is business has to go on. People have to buy foods and other necessities. Local production has to continue or else, starvation would hit us. Buying and selling has to continue.

Loan disbursements and loan repayments. For now, loans and its repayment has to pause. Banks and financial institutions have to stop collecting loan repayments because there is officially no business.

The world will survive

Making sense

desmond2pk:
The economy is grinding to a halt. Most countries have either closed their borders or are trying to close.
Production have stopped in many countries. Toyota just shut down its company in Europe. China, the only country that has recovered from the virus is yet to begin production in full scale so many countries that depends on China for components and finished products will have to wait. Flights have been canceled even cargo flights.
The world did not prepare for this. The financial market is down and the stock market has been hit the highest.
Yet, countries are planning post -corona virus economy. How can we start over again?
Stimulus are being put in place for small scale companies which are the back bones of every economy apart from Nigeria. Nigeria has no economy.
Some big companie may not recover after.
In Nigeria here, how do we start and how do we end?
If i was your president, which i pray to be one day, i would set up an economy team amid the virus and after. One thing you can't take away, is business has to go on. People have to buy foods and other necessities. Local production has to continue or else, starvation would hit us.

Loans and loans repayment. For now, loans and its repayment has to pause. Banks and financial instructions have to stop collecting loan repayments because there is officially no business.

The world will survive

If you are owing money, please write to your bank to give you consideration concerning your specific circumstances

Awon debtors

Perfect idea.

This should be on FP already.

Good idea but this is Nigeria.


Check my signature

thesicilian:

If you are owing money, please write to your bank to give you consideration concerning your specific circumstances

Lol. Op, go and pay your sokoloan

It's actually very frustrating for loan reliant businesses now as much of Nigerian economy is tied to China. It's becoming a bit difficult to break even and loan Repayment if paused would be a big relief to most businessmen

Op you get functional brain.

desmond2pk:
The economy is grinding to a halt. Most countries have either closed their borders or are trying to close.
Productions have stopped in many countries. Toyota just shut down its company in Europe. China, the only country that has recovered from the virus is yet to begin production in fu knowll scale so many countries that depends on China for components and finished products will have to wait. Flights have been canceled even cargo flights were not spared. Simply put, The world economy has shut down.
The world did not prepare for this. The financial market is down and the stock markets hav been hit the highest.
Yet, countries are planning post -corona virus economy. How can we start over again?
Stimulus are being put in place for small scale companies which are the back bones of every economy apart from Nigeria. Nigeria has no economy.
Some big companie may not recover after.
In Nigeria here, how do we start and how do we end?
If i was your president, which i pray to be one day, i would set up an economy team amid the virus and after. One thing you can't take away, is business has to go on. People have to buy foods and other necessities. Local production has to continue or else, starvation would hit us. Buying and selling has to continue.

Loans and loans repayment. For now, loans and its repayment has to pause. Banks and financial institutions have to stop collecting loan repayments because there is officially no business.

The world will survive

I totally agree with you.
I work with micro finance bank customers are finding it difficult to repay their loans.
I wish central bank will issue warning to financial institutions on the need for them stop disbursement and collection of loans.. But naija the reversed is the case.

A lot of thing has to be done. A lot of things have to be put in place. The FG should, as a matter of urgent, constitute an economic team for this purpose.
It is no longer the usual. The people have to be the priority or a crisis is looming.
States should also set up committees . some taxes should halt now.
Rents should be looked into by states. Govt workers should be given a balanced package that can withstand this corona tsunami.
Now students will go home to their parents and all schools are shut down. Companies like DSTV should consider airing kids channels to their customers free of charge until this problem is over.

If we all stop paying loans, we end up limiting the ability of banks and lending agencies to give loans to people who need it.

Also, banks and lending agencies run the risk of collapse, which then means a lot of people won't get financing for anything. And then there is job losses

And if government has the bail them out, that's another debt for future generations loading.


Pay your loans on time OP

(And yes, I am in the process of paying back a loan myself. Before people start shouting that I am enjoying, or that I work for Sokoloan)

[sup][/sup]

kikero:
If we all stop paying loans, we end up limiting the ability of banks and lending agencies to give loans to people who need it.

Also, banks and lending agencies run the risk of collapse, which then means a lot of people won't get financing for anything. And then there is job losses

And if government has the bail them out, that's another debt for future generations loading.


Pay your loans on time OP

(And yes, I am in the process of paying back a loan myself. Before people start shouting that I am enjoying, or that I work for Sokoloan)

Nobody is against paying you. What business do you do pls ?
I asked because you don't sound like a business man now although you can claim.
If you are into business you would know that for two months, buying items from China has been difficult. Majority of our businesses depend on China. So how do you pay your loan?
Now, Europe is blocked and America is blocked too. I import 70% of my wares from US and the rest from China. When China stopped selling, i depended on US and now, US has stopped shipping. My goods have been hanging for 2 to 3 weeks now. So how do i pay my loan?
Maybe you are a ritualist

desmond2pk:
[sup][/sup]

Nobody is against paying you. What business do you do pls ?
I asked because you don't sound like a business man now although you can claim.
If you are into business you would know that for two months, buying items from China has been difficult. Majority of our businesses depend on China. So how do you pay your loan?
Now, Europe is blocked and America is blocked too. I import 70% of my wares from US and the rest from China. When China stopped selling, i depended on US and now, US has stopped shipping. My goods have been hanging for 2 to 3 weeks now. So how do i pay my loan?
Maybe you are a ritualist

Thanks for calling me a ritualist.

Do have a good day.

kikero:


Thanks for calling me a ritualist.

Do have a good day.

I don't mean that. Ignore that. I meant, you can't be oblivious that business has gradually grind to halt or will gradually grind to a halt if you are truly a business man.
I am sorry if you are offended by that