Buhari has capable team to handle drop in crude oil price – BMO

The Buhari Media Organisation (BMO) has allayed the fear of Nigerians over the drop in the price of crude oil, saying that President Muhammadu Buhari has a capable team to manage the current crisis in the global oil market.
The BMO Chairman, Mr Niyi Akinsiju, who, said this in a statement issued in Abuja on Wednesday, assured that the oil crisis would not have any serious impact on the nation’s economy.
According to Akinsiju, despite the drop in the price of crude oil and its potential impact on the country’s earnings, Buhari has a good and formidable team to handle whatever may arise.
He said that Nigerians should not be unduly worried because the president had capable hands that would manage whatever might come the country’s way.
Akinsiju added that the country would remain focused to achieve the goals it had set out in its current budget.
“We are aware of the fears that the drop in oil price and the panic impact it may create in the minds of Nigerians; but it is important that we calm any uneasiness.
“The president remains focused to ensure that the Nigerian economy is not affected negatively by this.
“It is worthy of note that the president has set up a committee to make an immediate assessment of the impact of the Coronavirus epidemic on the economy and make necessary recommendations.
“He is conscious of the potential economic effects this epidemic can cause and the need to put in place the right frameworks and policies to cushion whatever effect it may have,” he said.
According to him, the president has also set up a task force to coordinate responses in terms of any potential health services disruption and also manage whatever impact it may have on the economy.
Akinsiju described the president as a captain of a ship, who has experience in handling turbulent situations and that he would navigate through the turbulence and ensure that Nigeria was in a safe and calm place.
“There is no cause for alarm. The rider on the saddle is one known for focus, precision and level-headedness, the qualities needed of a leader at a time like this.
“If we can recall, this country ended up in a recession, with no fault of the president – but he was able to prudently manage the situation that saw the country out in no time.
“The country, ever since, has experienced unprecedented real growth,” he said. (NAN)