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...

Police Arrest 239 Suspects, Recover Weapons in Kogi

By Noah Ocheni, LokojaNo fewer than  239 criminal suspects...

Tinubu’s Aide Launches JusticeTechNG 2025 to Spur Legal Sector Innovation

President Bola Tinubu’s Special Assistant on Justice Sector Reform...

Davido: Critics Target Me Because of My Wealthy Background

Afrobeats superstar David Adeleke, popularly known as Davido, has...

ASUU Threatens Legal Action Against JAMB Over 2025 UTME Mass Failure

The Academic Staff Union of Universities (ASUU), University of...

Lagos Plans Monthly Rent Payment System to Ease Financial Burden

The Lagos State Government has announced plans to introduce...

BREAKING: JAMB Admits to Errors in 2025 UTME Affecting Student Performance

The Joint Admissions and Matriculation Board (JAMB) has officially...

Tinubu, Ganduje Strategize Apc’s Bright Future Ahead of 2027

By: Dr Sagir S Buhari FCIAAs Sun Tzu once...

Oborevwori Affirms Commitment to Corps Members’ Welfare and Safety in Delta

By Anne Azuka Governor Sheriff Oborevwori of Delta State on...
spot_img

Related Articles

Popular Categories

spot_imgspot_img