Nigeria and other oil producing countries in Africa will lose up to $65 billion in revenue because of the impact of Coronavirus on crude oil sales, the Economic Commission for Africa said Tuesday.
Songwe stated: “Africa may lose half of its GDP with growth falling from 3.2per cent to about two per cent due to a number of reasons which include the disruption of global supply chains.” Other knocks the continent will suffer as a result of the COVID-19 scourge are that Africa’s export revenue from fuels would fall at around $101 billion.
In this regard, the Central Bank of Nigeria has initiated some interventions to make money available for pharmaceuticals firms.With nearly two-thirds of African countries being net importers of basic food, shortages are feared to severely impact food availability and food security.He added that diversifying economies away from being fuel-driven was vital beyond COVID-19.
May be better that way because the money they have selling the product for year is been enjoy by few, you can imaging the wealth of nigeria and still we are this backward
🙆
Let's lose oil but not life
Who that one help
Even wen Dey make profit. We Dey chop inside di money?
Oboy...
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