President Muhammadu Buhari has conceded that Nigeria is plagued with large population of poor people, serious infrastructure deficit, lack of housing and a battered economy brought about by the novel coronavirus.

Speaking on Tuesday at a virtual meeting with members of the presidential economic advisory council (PEAC), he added that more is needed from all sectors to revamp the economy from the current tide.

He said:

“We are a country characterised by a large population of poor people, serious infrastructure deficit, lack of housing and a vulnerable economy now haunted by the COVID-19 pandemic and collapse of the oil sector and its effect on the gross domestic product (GDP).”