World Bank says Nigeria, others must end fuel subsidy

The World Bank said the current low crude oil prices present an opportunity for commodities-dependent economies like Nigeria to review their energy pricing policies as they look forward to the post-COVIC-19 pandemic era. The Bank said in a report published on Wednesday that energy-importing developing countries need to move away from costly subsidy schemes and allocate their limited fiscal resources to improving public health and education. The report, titled, “Adding Fuel to the Fire: Cheap Oil during the Pandemic”, was published ahead of the release of the World Bank Group’s…

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COVID-19 cases in Nigeria exceed 9,000 as Lagos records 254 new cases

The number of confirmed cases of Coronavirus in Nigeria exceeded 9,000 on Friday as 387 new infections were reported by the Nigeria Centre for Disease Control (NCDC). With the update, the total tally of confirmed cases of COVID-19 in the country rose to 9, 302 as of Friday evening. This is the second highest daily figure within the week from confirmed COVID-19. The highest figure so far reported since the beginning of the outbreak was reported this week on May 27, with 389 cases. Also, two deaths were recorded from…

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COVID-19 Pandemic: Nigerians in Malaysia set to return home

Nigerians stranded in Malaysia amid the pandemic are expected to return to the country this week. It was gathered that interested persons have started paying the $1,000 (N390,000) charged by Air Peace Airlines for the return ticket for economy class and $1,400 (N546,000) for business class. The Consular and Immigration Section, Nigeria High Commission in Kuala Lumpur, had on May 21 informed the citizens about the charges and the airline’s condition for the evacuation. It explained that the flight would only take place if a minimum of 300 passengers were…

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Buhari becomes first Nigerias leader to take IMF loan

Nigeria, for the first time in its history, has tapped the International Monetary Fund (IMF) for a loan, showing the severity of the damage inflicted by the Covid-19 induced slump in crude oil prices on Aficas largest economy. The IMF approved Nigerias request for emergency financial assistance of US$3.4 billion to meet the urgent balance of payment needs of the country stemming not only from the crash in crude oil prices but the outbreak of the COVID-19 pandemic. The loan is classified under the IMFs Rapid Financial Instrument (RFI), which…

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Nigeria records 87 new cases of COVID-19, total now 1,182

The Nigeria Centre for Disease Control, NCDC reports 87 new cases of the novel Coronavirus in the country, bringing the total infections to 1,182. According to the NCDC in a tweet via its official handle, 33 of the new infections were recorded in Lagos, 18 in Borno, 12 in Osun, nine in Katsina, four each in Kano and Ekiti, three each in Edo and Bauchi and one in Imo. The countrys total deaths from the virus now stand at 35 while 222 have recovered. The new Coronavirus has claimed at…

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Nigeria COVID-19 cases hits 1,095 as NCDC confirmed 114 new infections

The Nigeria Centre for Disease Control (NCDC) says it has recorded 114 new cases of the Coronavirus (COVID-19) in the country. In a tweet on Friday night, NCDC said that the new cases had taken the total number of infections in the country to 1095. It also said at least 32 persons have died from Coronavirus-related complications. It said, On the 24th of April 2020, 114 new confirmed cases and one new death were recorded in Nigeria. One new state, Zamfara, has reported a confirmed case in the last 24…

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Covid-19 Economic Crisis: IMF set to consider $3.4 billion Emergency Funding loan request by Nigeria

Muhammadu Buhari

Staff of the International Monetary Fund, IMF will recommend the approval of $3.4 billion in emergency funding to Nigeria when the lenders executive board meets next Tuesday, according to sources with direct knowledge of the plan. It could offer a significant boost to Nigeria, the oil dependent nation which arrived at the current Covid-19 imposed economic crisis the least prepared of its OPEC peers and its situation has been worsened by its socialist-tilted government which spends on what it shouldnt (petrol and electricity subsidies) and fails to spend on the…

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Nigeria records 108 new COVID-19 cases, total now 981

108 new cases of Coronavirus were on Thursday night reported by the Nigerian Centre for Disease Control (NCDC), bringing the total cases to 981. In the new cases reported, Lagos had 78 cases, 14 in FCT, five in Ogun, four in Gombe, three in Borno, two in Akwa Ibom, one in Kwara, one in Plateau. According to the NCDC, As at 23rd of April, there are 108 confirmed cases of #COVID19 reported in Nigeria. 197 have been discharged with 31 deaths. There are 27 states with confirmed cases in Nigeria.…

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ADAMAWA RECORDS FIRST CORONAVIRUS CASE, INDEX FROM KANO

Adamawa gets the first case of coronavirus in the state. The index case is said to be a returnee from Kano, who earlier submitted himself for test, disclosed his status.The returnee from Kano, who earlier submitted himself for test, disclosed his status during a chat with some journalists.The man, who has been on self-isolation since returning to the state from Kano last week, told the journalists in confidence that he was informed of his infection status today Wednesday morning by the COVID-19 Containment Committee in Adamawa.He said, “I got a…

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Nigeria records 117 new Coronavirus cases, total now 782

Nigerias COVID-19 cases climbed to 782 on Tuesday with a single-day record of 117 new cases confirmed by the Nigeria Centre for Disease Control, NCDC. In a tweet, the NCDC said 59 cases were recorded in Lagos and 14 in Kano. The countrys total infections has now risen to 782, while deaths have risen to 25, at least 197 cases have recovered from the disease.

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Nigeria records 38 new COVID-19 cases

Kano23, Gombe 5, Kaduna 3, Borno 2, Abia 2, FCT 1, Sokoto1, and Ekiti 1 Nigeria has recorded 38 new Coronavirus cases, bringing the total number of confirmed cases in the country to 665. The number of deaths also increased from 21 to 22, just as the number of recoveries also rose to 188 patients. The Nigeria Centre for Disease Control disclosed this in a tweet on Monday. It said, Thirty-eight new cases of ?#COVID19? have been reported; 23 in Kano, five in Gombe, three in Kaduna, two in Borno,…

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Nigeria records 19 deaths as Coronavirus cases hit 542

Total Coronavirus fatalities hit 19 on Saturday, as the number of infections recorded in the country rises to 542. Disclosing this on Saturday night via Twitter, the Nigeria Centre for Disease Control, NCDC said a total of 166 recoveries have been recorded so far. Forty-nine new cases of COVID-19 have been reported; 23 in Lagos, 12 in FCT, 10 in Kano, 2 in Ogun, 1 in Oyo, 1 in Ekiti. As at 10:40 pm 18th April there are 542 confirmed cases of COVID-19 reported in Nigeria, it said. Voice of…

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GUNMEN ABDUCT RADIO NIGERIA REPORTER ALONG KADUNA-BIRNIN GWARI ROAD

A staff of Federal Radio Corporation of Nigeria FRCN Kaduna zonal office Adamu Musa Birnin Gwari has been kidnapped in Kaduna.Adamu Musa Birnin-Gwari who is a staff of the News and Current Affairs Department was kidnapped along Kaduna/Birnin-Gwari road this evening.Chairman Nigerian Union of Journalists NUJ Kaduna Council, Adamu Yusuf who is a colleague of the victim, posted the abduction of Birnin Gwari on the state NUJ members WhatsApp platform.Though no detail of the abduction yet, the state Police Command Spokesperson ASP Muhammed Jalige did not respond to inquiries by…

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More trouble for Nigeria as Bonny Light crude trades at $13 per barrel

One of Nigerias benchmark crude oil grades, Bonny Light, traded between $12 and $13 per barrel between Monday and Friday. Bloomberg quoted traders monitoring the West African market to have provided the data. This price is $15 lesser than the dated price of Brent crude, the global benchmark of crude oil which traded at $28 on Friday. Despite a record supply cut by the Organisation of Petroleum Exporting Countries (OPEC) and its allies (OPEC+), demand for crude oil has dropped due to closure of industries across the world. Bonny Light…

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Breaking News: Abba Kyari, Chief of Staff to President Buhari is dead

By Abdull-Azeez Ahmed Kadir The Chief of Staff to President Muhammadu Buhari, Mallam Abba Kyari is dead. He died of complications from the Coronavirus where he was receiving treatment after testing positive to the ravaging pandemic. Announcing his death, Special Adviser Media and Publicity to the President, Femi Adesina said funeral arrangements would be announced shortly. The full statement reads: “The Presidency regrets to announce the passage of the Chief of Staff to the President, Mallam Abba Kyari. “The deceased had tested positive to the ravaging COVID-19, and had been…

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