The Federal Government of Nigeria has applied for a cumulative loan of about $7 billion to mitigate the effects of the coronavirus otherwise known as the COVID-19 pandemic.

The Minister for Finance, Budget and National Planning, Mrs Zainab Ahmed at a press conference in Abuja on Monday has disclosed that in order for the country to achieve the alleviation of the COVID-19, the Federal Government must apply for a loan.

Ahmed also said that about 506 trucks of rice seized by Nigerian Customs Service will be released to the Ministry of Humanitarian Affairs, through the ministry the rice will, therefore, be distributed to vulnerable Nigerians.

In addition, FG is withdrawing $1.5 billion from the Stabilization Fund of Nigeria Sovereign Wealth Fund to be shared among states.

Interest and capital repayment by states on CBN loans will be suspended once inflows into Federation Account drops below a particular threshold.

Meanwhile, the Nigeria Centre for Disease Control (NCDC) has on Monday, disclosed that the confirmed total number of people that have contracted the Coronavirus has jumped to 239, 33 discharged and 5 death has been recorded so far.

However, over 1.2 million people have contracted the virus across the world, while over 272,115 have recovered while 72, 000 people have reportedly died from the novel COVID-19 pandemic.

COVID-19 causes illness such as common cold, fever and difficulty in breathing. The novel COVID-19 spreads via droplets produced when an infected person coughs or sneezes and their droplets lands in the mouth or noses of their people. It can be contracted by touching contaminated surfaces or objects or touching the eyes, nose or mouth.

People that have contracted the deadly virus spend a maximum number of 14 days in self-isolation while people with suspected cases are to be self-quarantine.

The coronavirus COVID-19 is affecting over 127 countries and territories around the world and 1 international conveyance (the Diamond Princess cruise ship harboured in Yokohama, Japan).

SOURCE: https://brandnewsday.com/2020/04/06/coronavirus-why-nigeria-government-needs-7-billion-loan/

I don't even know what this administration see inside loan

very stewpid she~aboki

where is my 20k promised? useless woman

Finnese001:
I don't even know what this administration see inside loan

We are finished....

Buhari will wreck this country before leaving.

Quote me anywhere

EmekaBlue:
very stewpid she~aboki

where is my 20k promised? useless woman

Nobody got any 20k

But their records is saying that 26 million Nigerians have received the money...
Billions gone
Yet Buhari is fighting corruption

ZombiePUNISHER:


We are finished....

Buhari will wreck this country before leaving.

Quote me anywhere

Buhari administration has been borrowing from the first day they step into the government house

Wetin apun?

ZombiePUNISHER:


Nobody got any 20k

But their records is saying that 26 million Nigerians have received the money...
Billions gone
Yet Buhari is fighting corruption

can u just imagine

and these useless banks forming donation r just deducting me unjustfully to feed these idiots at d top

Buhari told you during campaign that


1 : He has never known how to make money

2: He borrowed money to build his house

3:. He borrowed money to pay school fees of his kids

4 : He even borrowed money to buy APC form

Yet you went ahead to vote for him

And now you are suprised he has turned Nigeria into the borrow borrow capital of the earth ?

You are not okay

On behalf of we Muslims of IGBO descent in NIGERIA, I want to applaud the govts step in the right direction of seeking l

That's the only thing Buhari can think of.

Loan

Loan
Loan.

Buhari does not know how to create wealth or create an enabling environment for wealth to flow.

The only way to create wealth is loan.

Haba.

Macphenson:
That's the only thing Buhari can think of.

Loan

Loan
Loan.

Buhari does not know how to create wealth or create an enabling environment for wealth to flow.

The only way to create wealth is loan.

Haba.

But he told Nigerians before they elected him but they still chose to go that way so who do we blame

This people baffle me always, $7billion naira!!! Huhmm, what of all the money that has been donated and are still donating. They are all damm nigarr. God save us all

...

The crooks in this APC regime just want to continue mortgaging Nigeria to chronic financial indebtedness.

Make coronavirus finish first, those of us wey survive go table this matter.

Posterity will judge this administration and their heartless supporters.

Borrowing is ALL they know



https://www.youtube.com/watch?v=6BEfNI9Aee4

$7 billion to be shared to Almajiris in the North. After sharing 90 percent of the money to the North. They will use Southern Nigeria's resources to pay off the debt. In essence, Southern Nigeria is paying for Northern development at the expense of the South. The same north that invented boko haram terrorist group that slaughtered thousands of lives including those from the South.
Dear Nigerians, the time has come for us to demand for TOTAL DISINTEGRATION OF NIGERIA. Northern Nigeria is a security threat and a parasite destroying and dragging the rest of Nigeria behind.
The era of stupidness and mumuism is over!
ONE NIGERIA IS DEAD!

Finnese001:
I don't even know what this administration see inside loan

The government of loan