• Friday, May 24, 2024
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Five Things to Start Your Day

Five things to start your day

Coronavirus cases in Nigeria hits 51

Five new cases of Coronavirus (covid-19) have been confirmed by the National Centre of Disease Control (NCDC) on Wednesday night, putting the total number of those to have tested positive to the deadly virus in Nigeria to 51.

Of the five new cases, two are in FCT, two in Lagos and one in Rivers, NCDC said on its Twitter handle at midnight.

Three are returning travellers into Nigeria while two are close contacts of a confirmed case.

Nigeria at risk of higher joblessness rate as Coronavirus  hits businesses

With economic activities in the country almost grinding to a halt due to the coronavirus pandemic, Nigeria could see a host of its population becoming jobless, worsening it already heightened unemployment figure.

The odds of Africa’s biggest economy slipping into a recession are increasingly becoming likely as companies suffer declining revenue due to the deadly Coronavirus outbreak.

Social distancing, economic uncertainties affect real estate transactions

As people become increasingly apprehensive of the deadly impact of coronavirus, with social distancing being observed as a preventive measure, the property market and real estate investors are taking the heat, BusinessDay findings reveal.

Though the impact of the rampaging virus is not yet seen or felt in house prices or rents, it is already impacting negatively on real estate transactions as reflected in inspec- tions which neither buyer nor seller is ready to undertake at the moment.

Effectively, viewing which precedes buying and sell- ing a property has stopped completely because the buyer avoids close contact with the seller or agent and vice versa.

A 35-month low PMI signals lingering woe for growth-challenged Nigeria

After recording its fastest quarterly growth since the 2016 recession, the coronavirus outbreak could see Nigeria’s economy slow or contract in the first quarter of 2020, as manufacturers have become less optimistic amid supply shortage and slowing demand. Nigeria’s manufacturing Purchasing Managers’ Index (PMI), a gauge for manufacturing sentiments, slowed in March 2020 to its lowest in almost three years, according to data by the Central Bank of Nigeria (CBN).

In March, PMI stood at 51.1 index points when compared to 58.3 points in February. Although a 51.1 index point indicates an expansion in the manufacturing sector for the 36th consecutive month, it also depicts a disruption in economic activities brought minimum threshold. manufacturers can no longer increasingly appre- about by the outbreak of Covid-19.

Concern trails FG’s decision to move medical donations to Abuja

Concerns have been raised over the decision of the Federal Government to transport medical supplies donated by Jack Ma Foundation from Lagos airport to Abuja considering the fact that Lagos has recorded more cases of COVID-19 than Abuja.

The Nigeria Centre of Dis- ease Control (NCDC) has so far recorded 30 cases of CO- VID-19 in Lagos while Abuja has recorded eight cases.

On Tuesday, an Ethiopian Airlines Freighter delivered the medical supplies from the Jack Ma Foundation and on Wednesday, the Nigerian Air Force airlifted the Jack Ma supplies to Abuja.

An aviation consultant who craved anonymity said he didn’t understand the rea- sons why medical supplies for Nigeria would be taken to Abuja.