THURSDAY 19TH MARCH 2020

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CBN to Scale up Economic Support with Extra N1.1tn Health sector gets fresh N100bn incentive Sets up N1.5tn infrastructure fund implementation committee Obinna Chima The Central Bank of Nigeria (CBN) yesterday announced its decision to increase its intervention to boost local manufacturing and import

substitution with the injection of an additional N1.1 trillion across all critical sectors of the economy. The move, which is in line with the banking sector regulator’s efforts to cushion

the impact of COVID-19 on the Nigerian economy, came two days after it unveiled a sixpoint palliative to ameliorate the continued impact of the global pandemic on the country.

The CBN Governor, Mr. Godwin Emefiele, said in Abuja that the central bank would meet with the Bankers’ Committee on Saturday to work out the modalities of channeling the funds as well

as to ensure easy access by local manufacturers. Additionally, Emefiele announced a fresh N100 billion loan to support the health authorities to ensure laboratories, researchers and

innovators work with global scientists to patent and or produce vaccines and test kits in Nigeria, to prepare for any major crises ahead. Continued on page 8

Taraba Gov’s Prolonged Absence from State Provokes Fresh Controversy... Page 5 Thursday 19 March, 2020 Vol 25. No 9110. Price: N250

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FG to Cut 2020 Budget by N1.5tn, Deregulates Petrol Pricing NNPC reduces pump price to N125 Omololu Ogunmade in Abuja and Ejiofor Alike in Lagos The federal government yesterday in Abuja announced its decision to reduce the

N10.59 trillion 2020 budget by N1.5 trillion. It also said it would reduce capital budget allocation by 20 per cent across the ministries, departments and agencies

(MDAs) as well as 25 per cent cut in both the recurrent and capital budgets of government enterprises. The federal government also deregulated petrol

pricing, directing the Petroleum Products Pricing and Regulatory Agency (PPPRA) to modulate pricing in accordance with prevailing market dynamics and further

oil market development. Subsequently, the Nigerian National Petroleum Corporation (NNPC) announced that its outlets would sell petrol at N125

from today, an N18 reduction from the N143 it sold up till yesterday. These decisions were taken Continued on page 8

At Last, FG Restricts Travel from US, UK, France, 10 Others Records five new COVID-19 cases, shuts NYSC camps nationwide Lagos suspends gathering above 50 persons, joins North-west govs to close schools

Deji Elumoye, Chuks Okocha, Olawale Ajimotokan, Adedayo Akinwale, Udora Orizu in Abuja, Martins Ifijeh, Chinedu Eze, Dike Onwuamaeze in Lagos, and Francis Sardauna in Katsina Nigeria yesterday stepped up efforts to check further spread of COVID-19 as it slammed a travel ban on 13 nations, including the United States, the United Kingdom and China. The travel restriction, which also affected COVID-19 high-risk nations like Japan, South Korea, Italy, Iran, Spain, France, Germany, Norway, the Netherlands, and Switzerland, was announced just as five fresh cases of the pandemic

were recorded in the country. With the five new cases, Nigeria now has eight incidents of the pandemic since the index case occurred in February. Another suspected case of COVID-19, it was learnt, was also being looked into yesterday in Katsina State. Following the travel ban, announced by the Secretary to the Government of the Federation (SGF), Mr. Boss Mustapha, the federal government also temporarily suspended the issuance of visa on arrival policy, which came into effect in January 2020. The suspension is part of measures to curb the further spread of Continued on page 8

NAF: 17 Terrorists, Bandits Killed in Kaduna... Page 6

WELCOME TO NIGERIA… World Bank’s new Country Director for Nigeria, Mr. Shubham Chaudhuri (left), and President of the Senate, Dr. Ahmad Lawan, during a courtesy visit by the bank’s chief to the Senate president in Abuja…yesterday julius atoi


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