Economic Contagion of COVID-19 Spreading Fast, Says Abuja Chamber

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Meanwhile, the Abuja Chamber of Commerce and Industry (ACCI) has raised the alarm that the economic contagion of COVID-19 is spreading as fast as the virus itself.

It urged the government to quickly evolve fiscal and monetary palliatives and incentives to cushion the shock on businesses.

Reacting to the measures and the impact of the pandemic on trade and commerce in Abuja, ACCI Director-General, Ms. Victoria Akai, told THISDAY in a telephone interview yesterday that measures being deployed in containing the spread of the disease were affecting production and the flow of supplies, services and people within Abuja and the FCT.

She stated: “The economic contagion is now spreading as fast as the virus itself. The necessary measures that are being used to control the spread of the virus are severing production and flow of supplies, services and people within Abuja and the FCT.
“This is stalling economic activities and is in the quick process of delivering the impending recession. The pressing question is: What is the way out for businesses and customers in accessing essential goods and services?”

The way out, according to her, is to leverage on the digital economy and develop some service windows such as logistics delivery services that had been underutilised prior to this time.