Unic Press UK: The International Monetary Fund (IMF) has approved a US$3.4 billion in emergency financial assistance under the Rapid Financing Instrument to support Nigeria in addressing the severe economic impact caused by the outbreak of COVID-19.
In a statement Tuesday, the IMF said:
“The Executive Board of the International Monetary Fund (IMF) approved Nigeria’s request for emergency financial assistance of SDR 2,454.5 million (US$ 3.4 billion, 100 percent of quota) under the Rapid Financing Instrument (RFI) to meet the urgent balance of payment needs stemming from the outbreak of the COVID-19 pandemic…. Even before the COVID-19 outbreak, Nigeria’s economy was facing headwinds from rising external vulnerabilities and falling per capita GDP levels. The pandemic—along with the sharp fall in oil prices—has magnified the vulnerabilities, leading to a historic decline in growth and large financing needs.”
Update on COVID-19 outbreak in Nigeria
195 new cases of #COVID19 reported;
80-Lagos
38-Kano
15-Ogun
15-Bauchi
11-Borno
10-Gombe
9-Sokoto
5-Edo
5-Jigawa
2-Zamfara
1-Rivers
1-Enugu
1-Delta
1-FCT
1-NasarawaAs at 11:50pm 28th April- 1532 confirmed cases of #COVID19 reported in Nigeria.
Discharged: 255
Deaths: 44 pic.twitter.com/oPyG4xfoa3— NCDC (@NCDCgov) April 28, 2020
