Nigerian Civil Aviation Authority Begins Audit of Airlines FG works out stimulus package for operators Chinedu Eze To guarantee passengers’ safety and protection from COVID-19, the Nigerian Civil Aviation Authority (NCAA)
has commenced the audit of airlines, THISDAY has learnt. The federal government is also working on a bailout for the aviation industry to prevent the collapse of the
airlines. The federal government had closed the nation’s airspace for scheduled passenger flights on March 23 and extended the closure for four weeks
on May 6. Although the nation's airspace is still closed, the government is considering resumption of domestic flights by June.
NCAA spokesman, Mr. Sam Adurogboye, told THISDAY yesterday in Lagos that the main objective of the technical audit is to ensure that airlines’ fleet is airworthy.
According to him, the audit would also ensure that the airlines provide adequate safety protocol to ensure the protection Continued on page 9
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FG Kicks against Large Gathering During Sallah Celebration Cautions govs on lockdown relaxation 339 new cases spike tally to 7,016 with 1,907 discharged, 211 dead Omololu Ogunmade, Olawale Ajimotokan, Onyebuchi Ezigbo in Abuja, and Martins Ifijeh in Lagos The federal government yesterday kicked against
large gathering during Sallah celebration holding tomorrow, saying it might put many people, particularly the aged, at risk of COVID-19 infection. Some governors in the northern part of the country
had relaxed the lockdown, imposed on their states to halt the spread of the virus, to enable their citizens to celebrate the Eid-ul-Fitr. As the governors eased restrictions, Nigeria recorded
339 new cases of COVID-19 yesterday, bringing to 7,016 the total number of confirmed cases in the country. It has also recorded 11 new deaths, raising the figures from 200 to 211 in the last 24 hours.
Announcing the update last night, the Nigeria Centre for Disease Control (NCDC) said Lagos recorded 139 new cases, Kano and Oyo 28 each, Edo 25, Katsina 22, Kaduna 18, Jigawa 14, Yobe and Plateau 13 each,
Federal Capital Territory (FCT) 11, Gombe eight, Ogun five, Bauchi and Nasarawa four each, Delta three, Ondo two, while Rivers and Adamawa Continued on page 10
Nigeria Loses N125bn Oil Revenue to COVID-19 as Price Slumps in Q1 FG projects GDP to contract by -8.9% Suspends debt deductions from states Inflation hits two-year high at 12.34% World Bank pledges $1.5bn relief package to states Oil price hits $36 two-month high as demand recovers Omololu Ogunmade, James Emejo in Abuja and Nume Ekeghe in Lagos Nigeria's oil revenue target fell by N125.52 billion in the first quarter (Q1, 2020) to N940.91 billion, according to figures released yesterday by Minister of Finance, Mrs. Zainab Ahmed. The shortfall, attributed to the double whammy of the headwind caused by the COVID-19 pandemic and the slump in oil price due to a sharp drop in demand and price war between two powerful producers, Russia and Saudi Arabia, representing a 31 per cent of the prorated oil revenue
target. Data from the National Bureau of Statistics (NBS) also showed inflation hitting a two-year high at 12.34 per cent. Besides, the World Bank has projected that based on its assessment of Nigeria's economy, the country would plunge into a recession. But it has proposed a relief package of $1.5 billion to keep the 36 states of the federation, threatened by a fiscal crisis, afloat. Ahmed, who briefed reporters at the end of the National Economic Council Continued on page 9
Buhari Amends Executive Order on Offshore Assets Declaration... Page 8
ECONOMY ON THEIR MIND… Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed (left), and Vice President Yemi Osinbajo during the meeting of the National Economic Council in Abuja...yesterday godwin omoigui