•MAN, NACCIMA, LCCI, ABSON, others speak

By Peter Egwuatu, Assistant Business Editor, Nkiruka Nnorom, Naomi Uzor & Ediri Ejor

As the lockdown ordered by the Federal Government in Lagos State, Ogun State and Abuja expires tomorrow, top players in the nation’s economy have called on government not to relax restriction of movement prematurely.

They unanimously moved for an extension to ensure that the curve of coronavirus infection is flattened to a less threatening level.

President Muhammadu Buhari had on March 30,, announced a two-week lockdown of the aforementioned places as one of the measures to stem the spread of coronavirus.

Use better palliatives to sustain lockdown – LCCI

Calling for an extension, Director-General, Lagos Chamber of Commerce and Industry, LCCI, Dr. Muda Yusuf, said: “The lockdown has taken a huge toll on businesses and citizens’ welfare. But there is a reasonable consensus that it is a price worth paying for public health security. But the challenge is the weak social protection mechanism that we have. Over 70 percent of the adult population is engaged in the informal sector or working for small businesses. Most are dependent on daily economic activities that come with daily income.

“Practically, we are living from hand to mouth. The capacity of this class of people to absorb the shocks of the lockdown is very weak. Their staying power in the lockdown mode is fragile. They are beginning to run out of steam. Unless the social intervention scheme is radically reworked, it will be difficult to sustain the lockdown for long. Many of the people at the bottom of the pyramid are now more concerned about the risk of hunger than the danger of coronavirus. But it is the health authorities that would determine how long the lockdown will be.’’

Not yet time to relax lockdown – MAN

Chairman Manufacturers Association of Nigeria, MAN, Apapa Branch,  Frank Onyebu, said: “ I want to once again commend the federal and state governments for the actions taken so far with regards to the fight against the spread of coronavirus. Looking at what is happening in other parts of the world, especially in Europe and the United States, I can’t but support the governments’ actions, especially with regards to the lockdown.

“Is the lockdown painful? Yes indeed. Does it impact on businesses? Certainly. Will the continued lockdown further compound the suffering of Nigerians, especially the poor? Most certainly. Is there an alternative? I will say not much, except we want to see the Italian or Spanish scenarios here in Nigeria.

“ I know many people are still living under the illusion that this disease is not a tropical disease and therefore cannot have much impact here. People are formulating all sorts of conspiracy theories. But my advice to Nigerians is, let us take this thing very seriously. We do not have the capacity to contain the disease if there is a full outbreak.

Good fight

“We have begun a good fight, and I believe that collectively, we shall defeat this scourge. I know we have suffered a lot of hardships and inconveniences these past few days, but all our effort will be in vain if we don’t follow it to a logical conclusion.

‘’My take on this is, in as much as I would like the lockdown to be relaxed or even lifted, it is not yet time to relax the order.

Today, the lockdown in Wuhan where coronavirus originated, has been lifted. They endured the lockdown for three months. We don’t need to endure three months of lockdown if we do the right thing now. But I am afraid we could be forced to do more than that if we don’t.”

Lockdown should continue — NACCIMA

On her part, President of Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture, NACCIMA, Saratu Aliyu, said lifting the ban on restriction of movement prematurely would be counterproductive.

Supporting her argument, she said: “In my view, the lockdown should continue. This virus is transmitted from person to person. If people are allowed to move freely Nigerians will be hard hit because of our large population and manner of socialization. Nigeria does not have the capacity to fight the virus. The sooner we do the right thing, the better for us all. We should listen to the advice of the Nigeria Centre for Disease Control, NCDC, to stay clean and safe

“I want to plead with the authorities to coordinate and intensify the distribution of relief materials. People want to stay home but if they are hungry there is a tendency for them to go in search of food. A lot of sensitisation is needed to make people in heavily populated areas understand the need for lockdown and social distancing. We need to lockdown to stay safe.”

Pain of relaxing lockdown more than gains of reopening — Mallam Kurfi

Also, Managing Director/CEO, APT Securities and Fund, Mallam Garba Kurfi, said the pain of relaxing the lockdown would far outpace the gains of reopening the economy.

He cited examples of countries that failed to act on time and impact the COVID-19 pandemic is having on such economies.

“I fear that as the number keeps increasing, it doesn’t give hope that the lockdown will be lifted next week because we need the numbers to be reducing, not increasing. As of April 7, 2020, there were 10 fresh cases in Lagos. If the number keeps increasing, you can be rest assured that they will not lift the restriction because the situation is not favourable.

“The countries ahead of us -Italy, Spain, UK, and New York city in numbers, did not take the right measures as we did. That is why they are suffering. If this country finds itself in such a situation, who will save us?

“The economy is not the issue now. If we don’t have the capacity to absorb that kind of loss, we better continue to have our economy suffer rather than exposing ourselves to the level that we cannot control.

“Because of that, I do not see the government lifting it except they see numbers gradually declining.”

‘FG should consider realities on the ground’

Corroborating, Charles Fakrogha, a dealing member of the Nigerian Stock Exchange ,NSE, said: “One has to consider the available options. The extension of the lockdown would be determined by the reality on the ground.

“If advised by the medical experts or the task force on the front line, I will support an extension despite the consequences in the business arena. Already businesses have really suffered a lot. Everybody is at home, but you have to consider the other side of it. If they lift or relax the lockdown and people mingle, and forget about social distancing and the disease continues to spread, at the end of the day, our purpose will not be achieved.

“Based on medical reality, if there is the need for an extension, I will agree with the government.’’

Let’s break chain of transmission by staying at home— Iledare

Lending his voice, Executive Vice President, International Institute for Petroleum, Energy, Law and Policy, IIPELP, Centre for Energy Economics, Abuja, Professor Wumi Iledare, said :

“Anyone who thinks that 122 confirmed cases of COVID-19 in Kenya, 214 in Ghana and Nigeria 224 are not serious, should look at the numbers below and think. Italy on February 21, 2020, recorded 21 cases and on March 27, 2020, it had 86,498 cases. The United States on February 21, 2020, recorded 16 cases and by March 27, 2020, it had recorded 100,037 cases. On February 26, 2020, France had 18 cases and as of March 27, 2020, it had recorded 32,964 cases.

Lockdown should be relaxed – NASME President

However, President, National Association of Small and Medium Enterprise, NASME, Prince Orimadegun Agboade, said the lockdown should be reviewed to allow skeletal activities in some sectors.

He said: “I think the lockdown should be relaxed partially. Banks should be allowed to work because, in some countries, some banks still operate. Coronavirus is deadly but it is not as deadly as Lasser fever. I think government should relax it to allow movement so that people can put food on their table.

“We cannot work effectively because of the value chain. We want the lockdown reviewed so that people can become productive.’’

We want lockdown reviewed — ASBON

Giving his perspective, President, Association of Business Owners of Nigeria, ASBON, Dr. Femi Egbesola, said: “From an economic point of view, every right-thinking business owner would want the lockdown to either be stopped, relaxed or reviewed.

The reason is that as each day passes by, so much is being lost financially, especially when expenditure keeps running whether you are running your business or not.

For example, salaries, rent, certain taxes, repairs, and maintenance costs among other bills, must be paid irrespective of the lockdown. More importantly, it is only the living that does business. In the priority scale, health comes before wealth.

“It is the prerogative of health agencies to rightly advise government on what to do.

“It will be out of place for an organization or individual with limited knowledge in the medical field to authoritatively make a categorical statement on the issue.

The best we can do is to express our wishes and sentiments, especially as determined by the negative financial implications of the lockdown.”.

Vanguard