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Germany pledges €5.5 million to aid Nigerians access to water, food

FG will receive €5.5 million from Germany as her contribution to aid access to good life

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Germany pledges €5.5 million to Nigerian government for indigent citizens

The Federal Government will receive €5.5 million as Germany’s contribution to aid vulnerable Nigerians access to water, food and shelter.

The donation was disclosed by the Office for the Coordination of Humanitarian Affairs in Nigeria via Twitter. The commission stated that the pledge will go to the Nigeria Humanitarian Fund.
Nigeria has been battling the COVID-19 pandemic which has affected about 180 countries, including the US and European countries.

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Presently, Nigeria has 174 confirmed cases of the disease, with 9 discharged and two COVID-19-related deaths. The country is currently under lockdown, while observing social distancingprecautionary measures which are being implemented globally.

What the fund will be used for: The Office for the Coordination of Humanitarian Affairs in Nigeria said the fund will be used to fund food, shelter and clean water for impoverished citizens:

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“Germany pledges €5.5m to the Nigeria Humanitarian Fund. It’s more critical than ever for vulnerable people to have access to clean water, food & shelter. This will enable partners to continue delivering life-saving aid amidst COVID-19.”

Germany is one of the top five humanitarian donors to the United Nations Office for the Coordination of Humanitarian Affairs, behind the United States and the United Kingdomwhich come first and second respectivelyas shown on the website of Office for the Coordination of Humanitarian Affairs in Nigeria.

(READ MORE: COVID-19 could save naira from depreciating further)

Impact of Germany’s donation: Nigeria began donating to about 2.5 million poor and vulnerable households this week, following the 14-day lockdown announced by President Muhammadu Buhari. The households are identified in 35 states.

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The Federal Government plans to give out N20,000 to each person for the next four months as a way of cushioning the effect of the coronavirus pandemic. The donation from Germany will boost the Government’s efforts in helping vulnerable Nigerians get through the lockdown.

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FG has also been receiving donations from companies in the private sector, with banks like Zenith BankUBA, Access Bank and Keystone Bank leading the donation with at least N1 billion each. Other sectors have also been making pledges, with the likes of DSTV offering financial support.

Olalekan is a certified media practitioner from the Nigerian Institute of Journalism (NIJ). In the era of media convergence, Olalekan is a valuable asset, with ability to curate and broadcast news. His zeal to write was developed out of passion to shape people’s thought and opinion; serving as a guideline for their daily lives. Contact for tips: fakoyejo.olalekan@nairametrics.com.

1 Comment

1 Comment

  1. Anonymous

    April 5, 2020 at 1:51 pm

    Comment:hello my fellow nigerians we had heard enough of all people,private sectors,companies and other foreign countries etc which have donated to nigeria because of covid-19 who is holding it can it reached to the masses where is it and where mine pls answer me quickly

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Coronavirus

Covid-19 Update in Nigeria

On the 24th of May 2020, 313 new confirmed cases and 5 deaths were recorded in Nigeria bringing the total confirmed cases recorded in the country to 7,839.

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COVID-19: FCMB reschedule operations

The spread of novel Corona Virus Disease (COVID-19) in Nigeria has continued to rise rapidly as the latest statistics provided by the Nigeria Centre for Disease Control revealed Nigeria now has 7,839 confirmed cases.

On the 24th of May 2020, 313 new confirmed cases and 5 deaths were recorded in Nigeria.

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To date, 7839 cases have been confirmed, 2263 cases have been discharged and 226 deaths have been recorded in 34 states and the Federal Capital Territory having carried out 44,458 tests.

The 313 new cases were reported from 17 states- Lagos (148), FCT (36), Rivers (27), Edo (19), Kano (13), Ogun (12), Ebonyi (11), Nasarawa (8), Delta (8), Oyo (7), Plateau (6), Kaduna (5), Kwara (4), Akwa Ibom (3), Bayelsa (3), Niger (2), Anambra (1).

READ ALSO: COVID-19: Western diplomats warn of disease explosion, poor handling by government

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In a move to combat the spread of the pandemic disease, President Muhammadu Buhari directed the cessation of all movements in Lagos and the FCT for an initial period of 14 days, which took effect from 11 pm on Monday, 30th March 2020.

The movement restriction, which was extended by another two-weeks period, has been partially put on hold with some businesses commencing operations from May 4.

The latest numbers bring Lagos state total confirmed cases to 3505, followed by Kano (896), Abuja at 505, Katsina (308), Borno (250), Jigawa (241), Oyo (240), Bauchi (232), Ogun (231), Edo (191), Kaduna (189),  Gombe (145),  Sokoto and Rivers (116), Plateau (83).

Kwara State has recorded 79 cases, Yobe (47), Nasarawa (46), Osun (42), Delta (39), Ebonyi (33), Kebbi (32), Niger (28), Adamawa (27), Akwa Ibom (24), Ondo (23), Ekiti (20), Taraba and Enugu (18), Bayelsa (11), Anambra (9), Imo and Abia (7), while Benue state has recorded 5 cases.

READ ALSO: Bill Gates says Trump’s WHO funding suspension is dangerous

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DateConfirmed caseNew casesTotal deathsNew deathsTotal recoveryActive casesCritical cases
May 24, 202078393132265226353607
May 23, 202075262652210217451317
May 22, 2020726124522110200750337
May 21, 2020701633921111190748987
May 20, 202066772842008184046377
May 19, 202064012261921173444757
May 18, 202061752161919164443407
May 17, 202059593881826159441837
May 16, 202056211761765147239737
May 15, 202054452881713132039544
May 14, 202051621931683118038154
May 13, 202049711841646107037374
May 12, 20204787146158695936704
May 11, 202046412421521090235894
May 10, 202043992481421777834794
May 9, 202041512391271174532784
May 8, 202039123861181067931154
May 7, 20203526381108460128184
May 6, 20203145195104553425071
May 5, 2020295014899548123704
May 4, 2020280224594641722912
May 3, 2020255817088240020702
May 2, 20202388220861735119522
May 1, 20202170238691035117512
April 30, 2020193220459731715562
April 29, 2020172819652730713692
April 28, 2020153219545425512322
April 27, 20201337644102559942
April 26, 20201273914152399942
April 25, 20201182873632229252
April 24, 202010951143312088552
April 23, 20209811083231977532
April 22, 2020873912931976482
April 21, 20207821172631975602
April 20, 2020665382311884662
April 19, 2020627862221704362
April 18, 2020541482021663562
April 17, 2020493511841593172
April 16, 2020442351311522772
April 15, 2020407341211282672
April 14, 202037330111992632
April 13, 202034320100912422
April 12, 20203235100852282
April 11, 202031813103702382
April 10, 20203051770582402
April 9, 20202881471512302
April 8, 20202742260442262
April 7, 20202541661442042
April 6, 2020238650351982
April 5, 20202321851331942
April 4, 2020214540251850
April 3, 20202092542251800
April 2, 20201841020201620
April 1, 2020174352091630
March 31, 202013982091280
March 30, 2020131202181210
March 29, 2020111221031070
March 28, 20208919103850
March 27, 2020705103660
March 26, 20206514102620
March 25, 2020517102480
March 24, 2020444102410
March 23, 20204010112370
March 22, 2020308002280
March 21, 20202210001210
March 20, 2020124001110
March 19, 20208000170
March 18, 20208500170
March 17, 20203100030
March 16, 20202000020
March 15, 20202000020
March 14, 20202000020
March 13, 20202000020
March 12, 20202000020
March 11, 20202000020
March 10, 20202000020
March 9, 20202100020
March 8, 20201000010
March 7, 20201000010
March 6, 20201000010
March 5, 20201000010
March 4, 20201000010
March 3, 20201000010
March 2, 20201000010
March 1, 20201000010
February 29, 20201000010
February 28, 20201100010

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Coronavirus

British High Commission releases flight schedule for final evacuation

The commission also made provisions for nationals who are cash strapped.

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The British High Commission has released flight schedules to evacuate its nationals from Nigeria within a fortnight.

In a video made available to Nairametrics, the British High Commissioner to Nigeria, Catriona Laing, stressed that they would be the final evacuation flights from Nigeria back to the United Kingdom, and urged nationals to take advantage of it.

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Speaking about eligibility, Laing stated:

“These flights are aimed at British nationals and dual nationals who are normally resident in the UK, and their immediate dependents. We’ll be prioritising people who are already on our waiting list.
“After that, we will allocate seats on a first come first served basis, and those of you who are non-British nationals but have indefinite leave to remain in the UK could also be eligible. We will pick up any foreign nationals if we have seats available.”

READ ALSO: British airways set to suspend 32,000 employees

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Schedule

There will be flights from Lagos to London on May 29, and June 1, 2020, while the flights from Abuja to London will only run on June 6, 2020.
There are also arrangements to pick up stranded nationals in Port Harcourt, and connect them to Abuja where they will board the flight home.

According to Laing, the Commission will be using Virgin Airlines for its Lagos flights and Titan Airways to convey nationals from Abuja.

READ ALSO: Time for Nigeria to forget crude oil

What it will cost

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Britons taking the flight from Lagos will be expected to pay £445 for their tickets, while passengers from Abuja will pay £600.

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Laing added that the commission has also made provisions for nationals who are cash strapped.
“If you are struggling and you have exhausted all other means, there are loans available,” she said.

Bookings are to be made at the ‘return to the UK’ part of their travel advise page, and details of the loans can also be found there.

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Coronavirus

MTN Nigeria Communications Plc announces N100 billion commercial paper issuance

MTN Nigeria notified the public of it proposed Commercial Paper Issuance under its N100 billion Commercial Paper (“CP”) Issuance Programme.   

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MTN Nigeria

MTN Nigeria Communications Plc has notified the public of it’s proposed Commercial Paper Issuance (series 1 & 2 commercial paper issuance N50billion each) under its N100 billion Commercial Paper (“CP”) Issuance Programme.

The proceeds from the CP issuance will be used to support MTN Nigeria’s working capital and general corporate purposes. This issuance under the CP Programme represents MTN Nigeria’s debut in the domestic debt capital market.

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Highlights of the report are as follows:

Arranger: Chapel Hill Denham Advisory Limited

Minimum subscription: N5 million

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Issuance size: N100 billion (series 1 & 2 commercial paper issuance N50billion each)

Tax consideration: Free and clear of withholding Taxes

MTNN is the leading telecommunications operator in the largest telecoms market in Africa. The company is the largest mobile operator and undisputed market leader in Nigeria, as measured by total mobile subscribers (c. 70 million), active data users (c. 26.8 million), revenue (almost 50% of industry), and profit pool. 

(READ MORE: Economy: Local corporates taking advantage of the low yield environment )

MTNN is well-positioned for the long term, with its unmatched investments in its infrastructure – most expansive 2G, 3G, and 4G network, largest fibre network (c. 29,000km) that spans across Nigeria, largest physical and digital distribution platform, and wide range of spectrum holdings – and the exciting market opportunity Nigeria brings.

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Nigeria offers an attractive telco market proposition as Africa’s largest economy and most populous country. Mobile voice and data subscription will continue to be a major part of consumer spending, largely driven by increased adoption by the young population.

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READ ALSO: First City Monument Bank Ltd issues N20 billion commercial paper

It is important to note that in the recent COVID-19 environment, MTNN has continued to sustainably add new subscribers, and customer voice and data usage remains resilient.

MTNN is rated Aa+ by Agusto & Co. which reflects the company’s history of strong financial performance – record revenue in excess of N1 trillion (largest revs by a listed corporate), stable and healthy operating profit metrics (+53% EBITDA margin), comfortably low leverage (0.4x Net Debt/EBITDA, 10.8x interest coverage) that is predominantly local currency, and strong free cash flow.

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