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Nairametrics
Home Economy Socio Economic

US supports Nigeria with $32.8 million for COVID-19, over $5billion on health in 20 years

Chike Olisah by Chike Olisah
May 18, 2020
in Socio Economic
Trump proposes $25 billion bailout for U.S. airlines, President Trump approves Oracle, Walmart deal with TikTok, US gives reasons it warned citizens against travelling to Nigeria, lists 12 high risk states, Donald Trump, What does Iran’s war with America mean for Africa?, US to stop issuing visa for Birth Tourism, Trump Travel Ban List: Why Nigeria should be excluded  , US spends over $5b in health assistance to Nigeria in 20 years, gives $32.8m for covid-19, Oil Is Back, YouTube suspends President Trump's account

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As Nigeria struggles to cope with the coronavirus pandemic that has severely impacted on the economy, the nation has been seeking for technical and financial assistance from international multilateral organizations, financially stable countries, and corporate entities among others.

This is because of the financial crisis faced by the country, which is worsened by the crude oil price crash as it contributes about 90% of the nation’s foreign exchange earnings.

The United States, which is the country is the hardest-hit country by the coronavirus pandemic in terms of casualty figure has been collaborating and financially supporting Nigeria in the fight against the virus.

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The US mission in Nigeria says that the country’s support to Nigeria in the global response to COVID-19 now stands at $32.8 million with more in the pipeline.

(READ MORE: Trump speaks with President Buhari on telephone over COVID-19)

This was disclosed by the US Ambassador to Nigeria, Ambassador Mary Beth Leonard, during an interview with channels television.

Nigeria, Nigerian economy, Recession, Oil price plunge, The Nigerian economy set to benefit from the new National Broadband Plan, US spends over $5b in health assistance to Nigeria in 20 years, gives $32.8m for covid-19
President Muhammadu Buhari

The US Ambassador said, ‘’Yes our 2 presidents spoke together, you will recall that President Buhari was the first African President that President Trump met and so I’m sure they were pleased to renew that contact’’.

READ ALSO: Aviation: Aviation sector grasps for stimulus in worst ever crisis

Ambassador Beth Leonard pointed out what the United State government has been doing to help Nigeria during this crisis.

She said, ‘’The US government spent $237 million specifically on COVID-19 and here in Nigeria we have spent up to $32.8 million and this is actually almost an equivalent volume of money that is still in the pipeline as we prioritize and figure out where we can have positive effect’’.

The US envoy to Nigeria said that Trump and Buhari discussed how the 2 countries have each reacted to the pandemic and the equipment needs of the countries. She pointed out that she was informed by her colleagues in Washington, that they are working on the logistics of how to help Nigeria with its equipment needs which could be in the coming days. 

(READ MORE: Nigeria’s energy crisis deepens as country runs out of storage for LNG)

She said they are working with United States Agency for International Development (USAID), Centre for Disease Control (CDC) and research institutes are partnering with Nigeria in the provision of some of this equipment as no country can do it alone.

According to her, the United States has for a long time been international leaders in health assistance as they have incredible relationships with other countries and their health systems.

Going further she said, ‘’You know in the last 20 years, the US assistance to Nigeria is a little over $8 billion, more than $5 billion of that was in the health. So international health assistance is something that we do and something that you will keep on doing when you come to a historic pandemic like COVID-19.’’

 


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Chike Olisah

Chike Olisah

Chike was a banker with over 11 years experience in retail and commercial banking, risk management, treasury portfolio management and relationship management. He also acquired some experience in financial management and do have some special interest in investment analysis and personal finance. He had stints with financial institutions like the former Intercontinental Bank and Fidelity Bank.

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