August 30, 2022 | Abuja, NigeriaLocal PEP researchers presented recommendations for fiscal policies designed to mitigate Covid-19's adverse economic effects in Nigeria at a national policy conference.
August 30, 2022 – PEP researchers in Nigeria held a national policy conference to show how increased vaccination rates and continued fiscal interventions can help Covid-19 recovery.
The team organized a conference with the office of the Chief Economic Adviser to the President, which brought together over 37 policy stakeholders and advisors, academics, representatives of civil society and the private sector for the event. The key policy stakeholders in attendance included representatives of the National Bureau of Statistics, the Budget Office of the Federation, the World Bank and the Federal Ministry of Women Affairs and Social Development.
Professor Adeola Adenikinju shared findings and recommendations from the team's PEP project investigating policy responses and interventions to support an inclusive adaptation and recovery from the COVID-19 crisis in Nigeria.
He explained that government interventions are necessary to prevent a prolonged pandemic, which would disproportionately affect women and informal workers. He then shared the team's findings showing that vaccines effectively reduce the economic shocks caused by the pandemic. Furthermore, improving vaccination rates will help reduce the widening gender gap.
A panel discussion on lessons learned from the government's response to the global pandemic followed the team's presentation. The panelists included a director of research at the Central Bank of Nigeria and a technical adviser at the Budget Office of the Federation. During the discussion, they examined the effects of government interventions in response to the pandemic and how these policies differ from those in place prior to the Covid-19 crisis.
The audience showed appreciation for the team's methodology and findings, and the Chief Economic Adviser to the President asked the team to collaborate with his office to address other national policy priorities using the CGE model. In particular, as a specific objective of the President, the social accounting matrix (SAM) used in the study will be included in the national SAM, which is a policy and investment tool used for economy-wide analysis.
Three journalists attended the event, including Kingsley Jeremiah from The Guardian, underlining the public interest in the team's results and recommendations.
The research team organized the event with financial and advisory support from PEP, the International Development Research Centre (IDRC), the William and Flora Hewlett Foundation and Global Affairs Canada.