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European Union donates €50m to Nigeria to fight coronavirus

In order to help Nigeria fight the coronavirus pandemic, the European Union (EU) is supporting the country with €50 million.  

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In order to help Nigeria fight the coronavirus pandemic, the European Union (EU) is supporting the country with €50 million.

This was announced by the Head of EU delegation in Nigeria, Ambassador Ketil Karlsen during a meeting held with President Buhari at the Council Chambers, State House, Abuja.

Femi Adesina, Special Adviser to the President on Media and Publicity, took to his Twitter account to publicly announce the grant on Tuesday. He said;

“EU gives Nigeria a grant of 50 million Euro to fight COVID-19. Head of EU delegation, Amb Ketil Karlsen, at the event commended President Buhari for your powerful address to the nation last night, and for the bold and necessary measures you’ve taken.”

READ ALSO: EU provides N4 bn solar energy funding to Adamawa

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[READ MORE: Why IMF excluded Nigeria from list of countries granted debt relief)

While receiving the donation, President Buhari commended the EU commission for its efforts at aiding the country fight against the spread of the deadly disease with its €50 million (N21 billion) donation.

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“Indeed, this brotherly support will save millions of lives. Nigeria, Africa and many beneficiary countries across the world will remain grateful for generations to come,” the President was quoted saying.

Meanwhile, as Nairametrics reported, there are currently 323 confirmed cases of Coronavirus in the country with 91 patients discharged and ten deaths recorded.

Chidinma holds a degree in Mass communication from Caleb University Lagos and a Masters in view in Public Relations. She strongly believes in self development which has made her volunteer with an NGO on girl child development. She loves writing, reading and travelling. You may contact her via - [email protected]

2 Comments

2 Comments

  1. Mrs Ekeke Juliet

    April 14, 2020 at 5:58 pm

    Please I need the government assistance, my baby 5months old need food …. please am seriously begging

  2. Mrs Ekeke Juliet

    April 14, 2020 at 6:02 pm

    I need the government assistance, my baby 5months need food… please am seriously begging 07063800715 please

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Commodities

Gold suffers worst monthly drop in four years

For the month of November, the precious metal lost for the third consecutive week, dropping 6% in value month to date.

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Gold prices rallied on Tuesday, after recording the worst month in four years.

Such poor showing in the month of November comes as no surprise, taking into account that global investors sold off their bullion assets and channeled the funds into riskier investments like global stocks and exchange-traded funds.

At the time of writing this report, the precious metal was trading at around $1787/ounce, For the month of November, the precious metal lost for the third consecutive week, dropping 6% in value, month to date.

What this means

Global investors are primarily reducing their bullish bias, taking into consideration the most recent testimony from U.S Treasury Secretary, Steve Mnuchin, and US Federal Reserve Chairman, Jerome Powell, on Monday to the Senate Banking Committee. Though both hinted that the world’s largest economy was on the path to recovery, they emphasized on the need for a lifeline.

In an explanatory note to Nairametrics, Stephen Innes, Chief Global Market Strategist at Axi, spoke on why the yellow metal could face more selling pressure in the coming weeks, taking into consideration, market sentiments that the future looks bright:

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“Flashing green lights at the end of the tunnel suggest investors should look through the immediate COVID-19 concerns and focus on the future, which seems incredibly bright and bullish. So, with month-end selling pressure mostly out of the way, it could allow investors to focus on those flashing green sectoral lights at the end of the Covid-19 tunnel.”

What to expect

Still, gold traders would be wary of taking bearish bets blindly, even when it looks like the tunnel’s end is in sight regarding the COVID-19 pandemic, on the bias that market conditions are not certain what the landscape will look like on the other side.

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Coronavirus

Covid-19: FG to reduce fatalities by strengthening capacity – Health Minister

The Minister said that the ministry plans to increase its capacity to battle the disease through personnel supervision.

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The Federal Ministry of Health (FMOH) has announced plans to reduce case fatalities of the Covid-19 pandemic by focusing on improving the capability to manage the virus.

This was disclosed by the Minister of Health, Dr. Osagie Ehanire, during the daily Joint National Briefing of the Presidential Task Force (PTF) on Covid-19 in Abuja.

The Minister said that the ministry plans to increase its capacity to battle the disease through personnel supervision.

He said, “We hope to reduce case fatalities by strengthening our capacity to manage cases, but it is only possible if persons test themselves early. All cases, whether home-based or institutional are to be supervised by medical personnel. This is particularly  important, given the threat posed by the spiralling rate of infection in countries with which Nigeria has strong political, business, social, and family relations.”

(READ MORE: FG may stop interstate and inter-town travels)

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He urged Nigerians to cut off travel to high-risk countries, as the travel rate determines the risk the ministry could contain with.

“There is a correspondingly high volume of travel between Nigeria and those countries, which is what also determines the risk. I also urge all Nigerians to cut off all travels, especially international travels, most especially travels to high risk countries, except it is very urgent.”

He stated that it might take Nigeria a while before securing the vaccines, even though the country had started the process of securing access to a vaccine.

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“Although we are positioning our country for access to the Covid-19 vaccine, it may still take a while for countries to access it and for all citizens to be vaccinated. It is, therefore, more realistic that we adopt preventive measures which have proven to be successful in controlling the pandemic,” Ehanire added.

What you should know: Nairametrics reported in October that Dr. Ehanire said Nigeria increased its daily testing capacity for Covid-19 to over 3,500/day.

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Business

FG launches Commodity and Export Department Young Professionals Programme

The FG has launched the CED-YP programme to enable youth career development needed to boost the nation’s economy.

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The Federal Government has launched the Commodity and Export Department Young Professionals Programme (CED-YP) to enable young Nigerian professionals to build and network skills needed for public administration expertise.

This was launched on Monday by the Minister of Industry, Trade and Investment, Niyi Adebayo. The scheme would be organized by the ministry’s Commodity and Export Department.

The Minister said that the programme would enable career development needed to boost the nation’s economy and it would serve as a continuous career development strategy to trigger speedy economic growth. He added that the beneficiaries would be exposed to other career development schemes organized by multilateral organizations.

He said, “The initiative will also provide an avenue to link up with other international sponsored professional development programmes such as World Trade Organisation (WTO), UNICEF, New and Emerging Talent Initiative (NETI), and World Bank young professionals programmes.

(READ MORE: Finance Professionals Network set to host Sub-Saharan Africa’s largest virtual finance webinar)

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The Minister also said that the scheme would help young professionals with decision-making abilities and policy implementation in the globalized world.

What they are saying

Dr. Sanni Gwarzo, Permanent Secretary of the Ministry of Industry, Trade and Investment, commented that the scheme was important, as it will help to elevate skilled capital needed for economic development.

“Globally, young professional programmes are used for human capital development, which is an essential component in nation-building. Skilled human capital has been pivotal and considered to be one of the fundamental solutions to the challenges of economic growth and development. We are looking forward to seeing the work plan going forward, as well as witnessing the exploits of this great plan,” Gwarzo said.

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