The Board of Directors, African Development Bank (AfDB), on Friday, approved a $288.5 million loan to help Nigeria tackle the COVID-19 pandemic and mitigate its impact on people and businesses. As of June 5, the country reported 11,516 coronavirus cases, 3,535 recoveries and 323 deaths. The loan is the Bank’s initial response to help mitigate the slump in oil prices and its impact on the national economy. Prior to the COVID-19 outbreak, Nigeria’s economy was projected to grow by 2.9 per cent of Gross Domestic Products (GDP) in 2020 and further expand by 3.3 per cent in 2021. This was contained in a statement signed by the police image-maker… Read full story

Source: Nigerian Tribune June 07, 2020 05:48 UTC