Nigeria's central bank announced Monday a credit relief of $136.6M to businesses affected by the coronavirus pandemic.
Central Bank of Nigeria (CBN) Governor Godwin Emefiele said households, small and medium-sized enterprises, airline service providers, hotels, health care merchants will benefit from the funds.
"The CBN hereby establishes a facility through for households and small- and medium-sized enterprises (SMEs) that have been particularly hard hit by Covid-19," he said at a news conference.
He noted the pandemic has "significant adverse consequences" for the global and Nigerian economies, including crude oil supplies, stock, sporting events, financial markets, entertainment and hospitality industries.
Other interventions announced by the bank include reduction of interest rates for the loan from 9% to 5% retroactively to March 1.
Nigeria has recorded two cases of the virus known as COVID-19 including an index case of an Italian businessman.
But the national disease control center warned Monday against complacency.
It said the outbreak could be devastating in a country of 200 million people if it fails to take serious hygiene measures.
AA
Tuesday, March 17, 2020
Monday, March 16, 2020
Nigeria gas explosion: 17 dead, rescue efforts under way
Rescue efforts are ongoing in Nigeria's commercial capital, Lagos, after a gas pipeline exploded on Sunday, resulting in the death of at least 17 people.
A spokesman for the National Emergency Management Agency, Ibrahim Farinloye, said more than 100 houses had caught fire and many people were wounded. Lorries, cars and motorbikes were also destroyed by the blast.
Farinloye said the explosion was triggered when a truck hit gas bottles stacked up in a gas processing plant near a pipeline in Abule-Ado area of Lagos.
"We are recovering dead bodies as we speak and putting them in bags," said local Red Cross official Adebola Kolawale. "We have a school here, and it's a residential area. And we have a trade fair here as well.
As a crowd looked on, rescue workers sought to remove rubble from a girls boarding school attended by more than 250 pupils.
The school headmaster was killed in the explosion, as were a couple and their two sons who lived nearby.
The explosion's impact was so strong it led to "the collapse of nearby houses and damage to a pipeline", according to the Nigerian National Petroleum Corporation.
President Muhammadu Buhari, in a statement on Sunday, described the incident as a national tragedy. He sent condolences to the families of the victims and Lagos state.
Petrol tanker and pipeline blasts are common in Nigeria where, despite the country's multibillion-dollar oil and gas industry, most people live in poverty.
Fires and explosions often occur as people try to siphon fuel from pipelines and as a result of accidents involving fuel tankers on poorly maintained roads.
In July, at least 45 people were killed and more than 100 others injured in central Nigeria when a crashed petrol tanker exploded as people gathered around to siphon fuel from it.
The truck overturned close to shops as it was travelling through the village of Ahumbe in Benue state.
Al Jazeera
A spokesman for the National Emergency Management Agency, Ibrahim Farinloye, said more than 100 houses had caught fire and many people were wounded. Lorries, cars and motorbikes were also destroyed by the blast.
Farinloye said the explosion was triggered when a truck hit gas bottles stacked up in a gas processing plant near a pipeline in Abule-Ado area of Lagos.
"We are recovering dead bodies as we speak and putting them in bags," said local Red Cross official Adebola Kolawale. "We have a school here, and it's a residential area. And we have a trade fair here as well.
As a crowd looked on, rescue workers sought to remove rubble from a girls boarding school attended by more than 250 pupils.
The school headmaster was killed in the explosion, as were a couple and their two sons who lived nearby.
The explosion's impact was so strong it led to "the collapse of nearby houses and damage to a pipeline", according to the Nigerian National Petroleum Corporation.
President Muhammadu Buhari, in a statement on Sunday, described the incident as a national tragedy. He sent condolences to the families of the victims and Lagos state.
Petrol tanker and pipeline blasts are common in Nigeria where, despite the country's multibillion-dollar oil and gas industry, most people live in poverty.
Fires and explosions often occur as people try to siphon fuel from pipelines and as a result of accidents involving fuel tankers on poorly maintained roads.
In July, at least 45 people were killed and more than 100 others injured in central Nigeria when a crashed petrol tanker exploded as people gathered around to siphon fuel from it.
The truck overturned close to shops as it was travelling through the village of Ahumbe in Benue state.
Al Jazeera
Friday, March 13, 2020
Video - Coronavirus outbreak may delay completion of major project in Nigeria
The Nigerian government says one of the most important rail projects in the country could suffer delays as a result of the COVID-19 outbreak. The project is being carried out by Chinese engineering firms. The head of the country's railway corporation says the completion date may be delayed.
Video - Doctor uses art to inspire people with skin conditions in Nigeria
Doctor by day and Artist by night, that is the story of one young Nigerian who is both a medical doctor and a visual artist. Adefemi Gbadamosi popularly known by his art signature, Fola David uses his art to instill self-love and self-confidence in people with different types of skin conditions making them see the beauty in what they may consider flaws.
Video - Nigerians raise awareness on preventing kidney failure
The World Health Organisation says an estimated 5 to 10 million people die annually from kidney disease across the world. In Nigeria, the country's Association of Nephrology said most people who suffer kidney failure cannot afford transplant or treatment. Health advocates are using this year's World Kidney Day to sensitize people on kidney disease and prevention.
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