France pushes for Global Moratorium on African Debt in Virus Crisis

French President Emmanuel Macron on Wednesday called for a global moratorium on debt payments by African countries to help them cope with the COVID-19 pandemic. Macron told Radio France Internationale (RFI) that he hoped a virtual meeting later on Wednesday of finance ministers from the G20 group of countries could agree to the moratorium. It should involve all major Western powers – China, Russia, and the Gulf states, as well as multilateral lenders, Macron said....

Fifteen Days of Lockdown: What Nigerians Are Saying.

“When I close now, I will trek from here to Palmgrove. I will trek come, and I will trek go na so so trek trek everyday,” A cold room owner (name withheld) in Lagos narrated her ordeal commuting daily from her residence in Palmgrove to her business in Bariga, Lagos. The Coronavirus lockdown, which went into effect on March 30th in three states, meant a stop to all businesses and offices with exemptions to healthcare,...

Adamawa Lockdown: Residents Cry out, Beg Fintiri To Review

As the  14-days lockdown in Adamawa state ends this Tuesday, mixed reactions continued to trail with many prevailing on the need for the state governor Ahmadu Umaru Fintiri to relax the restrictions and code of conduct while others do support for an extension of the lockdown. In an opinion poll conducted, respondents averred that with the prevailing economic hardship and security consequences the state government should borrow a leave from other neighboring states that had relaxed...

Buhari Instructs 10 Ministers, Others to Create Policy to Guide Economy During COVID-19

The Federal Government has directed heads of ten ministries to come up with policies to guide the the functioning of the economy during the COVID-19 pandemic. President Buhari made this known during a national address on Sunday evening announcing a 14-day extension of the lockdown in Lagos, Ogun, and Abuja and added that the ministers should work with the Presidential Economic Advisory Council and Economic Sustainability Committee. “To ensure our economy adapts to this new...

Enugu Govt. Imposes Time limit on Commercial Tricycle Operations

The Enugu State Government has directed commercial tricycle operators in the state, popularly known as `Keke riders’, to limit their operating time between 6 a.m. and 7 p.m. daily. The Secretary to the Enugu State Government, Prof. Simon Ortuanya, made this known in a statement made available to the News Agency of Nigeria (NAN) in Enugu on Monday. He said that the directive takes effect from Monday evening, April 13. “The decision was in furtherance...

No Fee Charged on COVID-19 Loan Application – CBN

The Central Bank of Nigeria (CBN) says the bank does not charge any fee on the COVID-19 loan application as claimed in false reports circulated on social media. The CBN’s Director, Corporate Communications Department, Mr. Isaac Okorafor said this in a statement in Abuja on Monday. Okorafor explained that procedures for accessing the N50 billion Targeted Credit Facility (TCF) stimulus package for households and Micro, Small and Medium Enterprises affected by the pandemic were clearly...

UPDATE 1-China in the Driver’s Seat Amid Calls for Africa Debt Relief

* G20 likely to endorse debt moratorium this week-sources * African nations pushing for broad debt relief * China now Africa’s largest bilateral creditor * Beijing finds itself in an unfamiliar role (Adds comment from Chinese foreign ministry) April 13 (Reuters) – Support is growing for debt relief to help the world’s poorest, indebted nations – most of them in Africa – confront the economic havoc wreaked by COVID-19. But there is one big question...

OPEC+ Countries Agree on Output Reduction

Ministers of the OPEC+ countries agreed in a video conference on Sunday to boost oil prices by cutting production by 9.7 million barrels a day for May and June, Mexico’s Energy Minister Rocio Nahle tweeted. The reduction is 300,000 barrels below the production cut which the Organisation of the Petroleum Exporting Countries (OPEC) and all its allies within the expanded OPEC+ format had agreed on Friday. Mexico refused to reduce its production by 400,000 barrels as...

COVID-19: Don’t Restrict the Movement of Food Items, Medications, Poultry Farmers Tells FG

As Nigeria’s government plans to extend lockdown order slammed in the wake of coronavirus pandemic, the National Poultry Association of Nigeria (NPAN) has called on the Federal and state governments not to restrict the movement of food items, medication, poultry, and poultry feeds in a bid to contain the spread of the deadly virus. The Association observed that there was a need to change the current approach, as the approach is causing more panicking that...

Nigeria Joins OPEC+ to Cut Supply By 10mb/d- Sylva

The Minister of State for Petroleum Resources, Chief Timipre Sylva, said Nigeria joined the OPEC+ to cut crude oil supply by 10 million Barrel Per Day. Sylva disclosed this at the ongoing 9th Organisation of Petroleum Exporting Countries (OPEC) and Non OPEC ministerial webinar meeting. “Nigeria joined OPEC+ to cut supply by up to 10mbpd between May and June 2020, Eight Million Barrels per day between July and December 2020 and Six Million barrels per...

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