x

Nigeria needs 120 billion naira for coronavirus battle, turns to private sector

Nigeria has appealed to private companies to make voluntary contributions toward the 120 billion naira ($330 million) that the government says it needs to fight the coronavirus epidemic.

“So far, the federal government has made giant strides in the fight but it is clear that the private sector needs to step in and support efforts already being made,” Central Bank Governor Godwin Emefiele said.

The crash in oil prices, which have fallen by nearly two thirds this year due in large part to a coronavirus-induced demand collapse, has seriously battered Nigeria’s finances.
Finance Minister Zainab Ahmed this week pledged 6.5 billion naira to the Nigeria Centre for Disease Control, and a further 10 billion naira for Lagos state, which has the bulk of the nation’s confirmed cases.

“To procure all needed equipment, material, and all infrastructure needed to fight this pandemic, over N120b need to be raised,” Emefiele said.

He has launched a coalition to do so led by the Aliko Dangote Foundation and Access Bank. It is already engaging state oil company NNPC and other oil sector players to raise funds.
Bank UBA Group, led by Tony Elumelu, on Thursday pledged 1 billion naira to Nigeria as part of a broader 5 billion naira coronavirus donation, and Emefiele said other prominent Nigerians including Dangote and five others would ensure that their organizations also contribute 1 billion naira each.

As of Friday, Nigeria had 65 coronavirus cases and one death.(Reuters)

Hot this week

Editors Urge Government To Create Safe, Enabling Environment For Journalists

· Ask security agents to find missing Vanguard journalistAs...

EXCLUSIVE: Buhari orders probe of Isa Funtua, AMCON over keystone and Etisalat

Following the controversy generated by the leading opposition party,...

6 Signs your boyfriend thinks you are ugly -Take note of No. 2

They say there are three kinds of people; the...

2023: South-East, Middle Belt Forum Endorses Peter Obi

The South-East and Middle Belt Forum has endorsed the...

Priscilla Ojo Makes Joyful Entrance as Traditional Wedding Festivities Begin

Priscilla Ojo has officially kicked off her traditional wedding...

Police Arrest Drug Dealers, Seize ₦3.5 Million Worth of Tramadol in Katsina

The Katsina State Police Command has apprehended two suspected...

Breaking: AMAC Chairman, Maikalangu defects to APC

… Calls for Massive Support for Tinubu, WikeBy Joyce...

PDP Youths Call on Atiku to Step Aside, Support Emerging Leaders

The Concerned PDP Youth of Gombe State has called...

NAF Airstrikes Target Terrorist Hideouts in Borno State

The Nigerian Air Force (NAF), operating under the Air...

Borno Gov orders rehabilitation of Dikwa-Marte road

By Achadu Gabriel, Kaduna Following a directive from Governor Babagana...
spot_img

Related Articles

Popular Categories

spot_imgspot_img