Nigeria’s central bank unexpectedly cut its benchmark lending rate to 12.5% from 13.5%, the central bank governor said on Thursday, the first rate cut since March 2019 and the largest since 2015.
Nigeria’s film industry is creeping back to work after lockdown, and one of the first productions to resume is a new television series about a highly infectious disease that has ravaged the world.
Nigeria’s economy grew 1.87% in the first three months of 2020 from a year earlier, the statistics office said on Monday, shrinking from the previous quarter as oil prices and international trade fell due to the coronavirus pandemic.
Nigeria’s economy could shrink as much as 8.9% in 2020 in a worst-case scenario without stimulus, Finance Minister Zainab Ahmed said on Thursday, a deeper recession than forecast after oil prices plunged due to the coronavirus pandemic.
Nigeria is wooing local companies to boost manufacturing and food production in the West African country, the central bank said, after the novel coronavirus disrupted imports and created large financing needs.
Nigeria will impose “precision” lockdown measures in areas that report rapid increases in cases of the new coronavirus but it will slow the phased reopening of the economy, the head of its task force said on Monday.
Nigeria impounded a plane operated by a British company for allegedly contravening a flight ban imposed to prevent the spread of the coronavirus, the aviation minister said on Sunday.
Nigerian comedian Maryam Apaokagi has a sure-fire way of getting people to listen to her coronavirus health advice – she delivers it with a hard slap in the face.
Nigeria will extend a ban on all flights by four weeks as part of measures to prevent the spread of the coronavirus, a government official told reporters on Wednesday.
Nigeria’s government is amending its 2020 budget to assume an oil price of $20 per barrel, Finance Minister Zainab Ahmed said on Tuesday.