Policy
A case against confirmed cases and the Nigerian Government’s response
With 305 confirmed cases of COVID-19 in Nigeria, Nigeria is seeing a gradual ‘increase’ in the spread rate and this is how the Nigerian government is responding to it:
Flexible lockdown of its major 3 commercial cities - Lagos, Ogun, Abuja. Flexible. Market stalls operating every 2 days from 10am to 2pm. A debatable solution to curb the spread of the virus but also ensure people don’t die of starvation.
Stimulus Package: 1.1 trillion ($2.7 billion) stimulus package to the critical sectors - N100 million to Healthcare and 1 trillion to Manufacturing sector as Manufacturing accounts for 70% of Nigeria’s imports.
Asking for More money: Nigeria has recently announced its intent to borrow $6.9 billion (₦2.5 trillion) from the following lenders:
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$3.4 billion - International Monetary Bank (IMF)
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$2.5 billion - World Bank
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$1 billion - African Development Bank (AfDB)
Nigeria already pays for its debt with half of its revenue, so while it can’t ‘afford’ this, it can’t do without extra money.
Petrol Price: Reducing petrol from N145 to N123 per litre to cushion the economic effect.
Social program: Giving a monthly stipend of N20,000 ($53) for the next 4 months to 10,695,360 persons - the most vulnerable and poorest persons - for the next four months.
Over the next few months, we’d see what effects these initiatives would have on the economy while also watching the spread rate.
Something to note about confirmed cases
As per FiveThirtyEight, “A country where the case count is increasing because it’s doing more testing, for instance, might actually be getting its epidemic under control. Alternatively, in a country where the reported number of new cases is declining, the situation could actually be getting worse, either because its system is too overwhelmed to do adequate testing or because it’s ramping down on testing for PR reasons.”
Just something to take note of when you hear that cases are rising or falling. As seen on the Nigeria Center for Disease Control site, only slightly above 5,000 persons have been tested in a country of ~200 million persons.
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