Daily Archives: May 20, 2020

COVID-19 lockdown: GSM service providers emerge gainers as schools move online

Almost every sector of the economy is/was shut down for COVID-19 to be caged. But the GSM service providers, along side the power sector ‘ganged’ up against suffering Nigerians to emerge winners.
Analysts say, because of the lock down, most people relied on mobile calls and data to know what is happening on the other side of the divide. This, they say brought about the ‘ables’ telling those without data or call credit what is happening or not.

Revenue shortfall may spike fiscal deficit to $5.3trn, beyond 3% threshold … Fiscal adjustments imperative

The implication of the significant revenue shortfall witnessed as a result of the economic lockdown looks dire, with an estimated fiscal deficit of $5.3 trillion, more than twice the initial projection of N2.2 trillion. Worse still, it is beyond the three per cent threshold set by the Fiscal Responsibility Act (2007).

Elumelu says Covid-19 Presents Opportunity to Reset Africa … Advocates Martial Plan to Boost Electricity And Ease Debt Burden … Wants Youths Prioritised as SMEs are Empowered

The Chairman of the United Bank for Africa (UBA) Plc, Tony Elumelu, has stated that the Coronavirus Pandemic currently ravaging the world presents an opportunity to reset the African continent so that Africans can be empowered to become more productive and self reliant. He said this today at the high-level Roundtable discussions made up of African leaders including Dr. Ngozi Okonjo – Iweala, the Special Envoy of the African Union on Covid-19 and Tidjane Thiam who is also a Covid-19 Special Envoy responsible for mobilising international economic support for Africa.