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Coronavirus: 20 million jobs under threat in Africa – AU

About 20 million jobs are at risk in Africa as the continent’s economies are projected to shrink this year due to the impact of the coronavirus pandemic, according an African Union (AU) study.
Andrés Manuel López Obrador struck an optimistic tone Sunday, uncommon elsewhere nowadays, as the COVID-19 has drastically slowed the economy around the world.

President: No big coronavirus related economic stimulus in Mexico

Mexico’s President said there will not be a big economic stimulus package related to the coronavirus pandemic, although the country is facing a crisis unlike anything before.
5G phone masts are being set alight in the UK, after online conspiracy theories have misleadingly linked the cell towers to the coronavirus pandemic.

NCC clears doubts over 5G technology, coronavirus

The Nigerian Communications Commission, NCC, released the statement below on speculations linking the coronavirus disease with 5G telecommunications technology.
Hungary’s Prime minister Viktor Orban looks on as he is welcomed by French President in the courtyard of the Elysee presidential palace before their meeting on October 11, 2019 in Paris. (Photo by Ludovic MARIN - AFP)

Hungary prepares $30bn package to jump-start economy

Hungary is preparing to announce a roughly $30 billion package of measures to help jump-start the economy amid the coronavirus outbreak, a top government official said on Saturday.
One of the victims of the fast-spreading coronavirus has reportedly died in Ghana, authorities have confirmed.

Over 600, 000 virus cases confirmed globally

As the human and economic toll of the lockdowns against the coronavirus mount on billions of the world population now left to struggle for their survival, fears that the contagion could reach the threshold of a million in a short spell has become rife.
President of the Senate, Ahmad Lawan, disclosed on Tuesday that the Senate may next week consider the report of an Ad-Hoc Committee on security challenges with a view to finding solutions to Nigeria’s security problems.

Senator Lawan: Nigeria doing poorly in agric research

President of the Senate, Senator Ahmad Ibrahim Lawan, has decried Nigeria’s poor performance in the area of Agricultural Research and Development.

Angola receives cattle from Chad to repay $100 million debt

Angola has received, through the Luanda port, the first batch of 75,000 head of cattle from Chad as repayment for $100 million debt.

Poland launches €47 billion package to save economy from coronavirus

The Polish government announced a financial package of just around €47 billion in order to help Polish businesses and employees cope with economic turmoil resulting from the coronavirus pandemic.
The minister of Finance, Budget and National Planning Mrs Zainab Ahmed disclosed this on Tuesday during her maiden meeting with top officials of the two merged ministries at the headquarters of Budget and National Planning in Abuja.

Nigeria: Coronavirus pandemic, oil price war have reinforced resolve to diversify economy

The federal government Monday declared that unfolding events of the past few months, the coronavirus pandemic and the oil price war have further reinforced its resolve to diversify the national economy.
The ECA Executive Secretary, Vera Songwe, who disclosed this in Addis Ababa on Friday during a press conference, said the total loss of revenue by African oil exporting countries as a result of the novel coronovirus disease could be up to $65bn.

ECA: Nigeria may lose $20 billion to coronavirus

The Economic Commission for Africa (ECA) has warned that COVID-19 could reduce Nigeria’s total exports of crude oil in 2020 by between US$ 14 billion and US$ 19 billion, even as the body said the spread of the virus could stall economic growth in Nigeria and other African countries.
President of the Senate Ahmad Lawan on Tuesday tasked top security officials to beef up security measures at the National Assembly.

Corruption: Senate president seeks UN’s assistance on repatriation of looted funds

President of the Senate, Ahmad Lawan, has sought the assistance of the United Nations on the repatriation of looted funds back to Nigeria.
Inovio CEO Joseph Kim said that the company designed DNA vaccine INO-4800 in just three hours after the genetic sequence of the novel coronavirus that causes COVID-19 was published.

Latest update on coronavirus worldwide

Since the novel coronavirus first emerged in late December, 2019, 110,564 cases have been recorded in 100 countries and territories, killing 3,862 people, according to an AFP toll based on official sources on Monday around 1100 GMT.
Senator Ahmed Ibrahim Lawan

$22.79 billion loan: National Assembly will take full responsibility, won’t allow diversion of funds...

President of the Senate, Ahmad Lawan, has assured Nigerians that the National Assembly will take full responsibility for the application of President Muhammadu Buhari’s $22.79 billion loan request to various projects domiciled with Federal Ministries, Departments and Agencies of government.
Nigeria has overtaken South Africa as the continent’s largest economy, a report by Bloomberg has shown.

Nigeria overtakes South Africa as Africa’s largest economy

Nigeria’s re-emergence as Africa’s biggest economy followed South Africa’s slump into its second recession in two years, as severe rolling power blackouts frustrate President Cyril Ramaphosa’s attempt to revive growth.
TAIPEI, TAIWAN - Singapore was hit a month ago with a surge in novel coronavirus cases that originated in China but capped the spread.

Southeast Asia moves to beat impacts of coronavirus

Singapore was hit a month ago with a surge in novel coronavirus cases that originated in China but capped the spread. Malaysia and Thailand watched beach tourists drain away as Chinese were required to avoid travel. Factory slowdowns in China caused by workers staying home to dodge the disease cut demand for Indonesian commodities.
Nigeria overtakes South Africa as Africa’s biggest economy. As if a recession wasn’t enough bad news for South Africa, it’s now confirmed as the continent’s second-largest economy.

Nigeria becomes Africa’s largest economy, overtakes South Africa

Nigeria’s economic growth beat forecasts in the fourth quarter, helping its economy to expand the most in four years in 2019 as oil output increased and the central bank took steps to boost credit growth. GDP in the West African country stood at $476 billion or $402 billion, depending on the rate used. =

Lagos Chamber: Nigeria’s growth rate can’t address job, poverty crisis

The Lagos Chamber of Commerce and Industry (LCCI) rated the latest 2.27 per cent Gross Domestic Product (GDP) growth recorded in the nation’s economy as sluggish and incapable of creating jobs and lifting millions of Nigerians out of the poverty trap.
Manufacturers Association of Nigeria (MAN)

MAN raises concern over Nigeria’s GDP growth

The Manufacturer Association of Nigeria (MAN) has described the lean 0.14 per cent GDP growth rate recorded in the fourth quarter of 2019 as a strong indications that Nigeria was not be ready for the AfCFTA commencing in July 2020.

Recent Stories

Four Nigerians detained in Cotonou over coronavirus quarantine fees

Four Nigerian returnees have been detained by soldiers in Cotonou, the Benin Republic after being quarantined for 14 days in a hotel in the West African country for refusing to pay N900, 000 each for the accommodation facility.

Lockdown: Court sentences 17 Lagos residents

The police in Lagos on Wednesday arraigned additional 17 residents who flouted the stay-at-home order of the state government.
President Muhammadu Buhari on Sunday said the federal government will provide relief materials for residents of Lagos and Abuja whom he ordered to stay-at-home as part of measures to curb the spread of the coronavirus.

President Buhari grants presidential pardon to some inmates

President Muhammadu Buhari has granted pardon to some inmates of the Custodial Centres of the Nigeria Correctional Service, NCoS,.
The partial closure of Nigeria’s land border with neighbours will continue beyond January 2020 and will only be terminated until the set objectives are achieved.

Nigerian returnees from Ivory Coast arrive Seme border

The much-awaited 67 Nigerians resident in Ivory Coast on Wednesday arrived at Seme Border Post in a luxurious bus with registration number Osun XA 240 EJG.
Real Madrid is set to announce the signing of a midfielder as they set the stage to unveil Reinier Jesus Carvalho a player they signed from Flamengo in the Brazilian Serie A.

Real Madrid agree 10-20% salary cut for players

Real Madrid's first team will take pay cuts of between 10 and 20 per cent to compensate for the club's loss of income during the coronavirus pandemic, the Merengue confirmed on Wednesday.