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.
Nigeria began easing restrictions on Monday in its capital Abuja and in largest city Lagos, heralding the reopening of Africa’s biggest economy after more than four weeks of lockdowns imposed to contain the new coronavirus.
Forty percent of people in Nigeria live in poverty, figures published by the statistics office on Monday showed, highlighting the low levels of wealth in a country that has Africa’s biggest economy.
Tech startup founder Ebun Okubanjo watched with dismay as his home city of Lagos entered a coronavirus-containment lockdown, knowing well that millions of Nigerians on the margins could be left with nothing.