Covid-19 May Reduce Nigeria’s Oil Revenue, Says UN Report Earning likely to drop from $38.9 billion to $14bn Obinna Chima The raging Coronavirus, otherwise known as Covid-19, may cause Nigeria’s total revenue from crude oil export in 2020 to drop to between
$14 billion and $19 billion, compared to $38.9 billion previously predicted, a United Nations Economic Commission for Africa (ECA) report has stated. The ECA, in a report
titled, “Economic Impact of the COVID-19 on Africa,” and obtained yesterday by THISDAY, noted that Nigeria’s gross oil revenue stood at N1.564 trillion as at the end of fourth quarter 2019.
The prediction was, however, predicated on crude oil price falling to $35 per barrel as well as Nigeria’s export of about 1.9 million barrels per day, a 50 per cent drop.
The report also estimated that Nigeria and other oilexporting nations in Africa could record revenue losses of up to $65 billion due to a likely drop in demand for the commodity.
On the average, the report estimated that between 2016 and 2018, yearly export revenues from fuels for Africa were $166 billion, with the Continued on page 5
Coronavirus: Trump Calls on God, Declares Day of Prayer, Adds UK, Ireland to Travel Ban…Page 5 Sunday 15 March, 2020 Vol 25. No 9106
www.thisdaylive.com TR
UT H
& RE A S O
N
N400
Dethronement: How Presidency Tried to Save Sanusi Ganduje, Sanusi refused to give peace a chance I don’t want to go back, I’ve moved on, says deposed Emir Tobi Soniyi in Lagos and Omololu Ogunmade in Abuja Contrary to insinuations doing
the rounds, the Presidency actually made several moves to reconcile the Kano State Governor, Abdullahi Umar
Ganduje and the deposed Emir of the state, Muhammadu Sanusi ll, in the peak of their feud.
A highly placed source in the Presidency, who pleaded anonymity but claimed to be in the know of efforts to broker
peace between Ganduje and peace a chance. Sanusi, said both parties were But the deposed Emir, responsible for what happened, Continued on page 5 because they refused to give
Two Days to NEC, APC Govs Still Divided on Oshiomhole
Imo, Ogun, Lagos, Osun, Nasarawa, Borno, Kano, Kwara, Gombe, Katsina govs back embattled chair Appeal Court to decide stay tomorrow First-term govs standing firm by Oshiomhole Anti-chairman govs send emissaries to Tinubu in London Akande is disturbed, laments multiple litigation Chuks Okocha in Abuja, Gboyega Akinsanmi and Bayo Akinloye in Lagos Ahead of Tuesday’s National Executive Committee (NEC) meeting of the All Progressives Congress (APC), there are strong indications that critical stakeholders are still sharply divided on the question of removing the embattled National Chairman of the party, Adams Oshiomhole, from office. Ten governors of the party are said to have made up their minds that he must go, while 10 have vowed to back him. Also the Deputy Senate President and the Speaker of the House Representatives are said to be solidly behind Oshiomhole. THISDAY findings showed that the governors of Imo, Ogun, Lagos, Osun, Nasarawa, Borno, Kano, Kwara, Gombe, and Katsina Continued on page 8
HONOURING ENIOLA BELLO'S MOTHER... L-R: Managing Director, THISDAY Newspapers, Mr. Eniola Bello; His Highness Alapomu of Apomu, Osun State, Oba Kayode Adenekan II Afolabi; Mrs. Bosede Ogunbiyi; HRH, Olu of Ayetoro Gbede, Oba David Sunday Ehindero; and Commodore Ayo Bello – Odofin at the reception after the commemoration service of Mrs. Julianah Ibimawu Lawrence held at Ayetoro-Gbede, Kogi State…yesterday godwin omoigui