Nigeria is facing a national economy issues due to the Covid-19 pandemic which as seen the International Monetary Fund (IMF) recommend the approval of $3.4 billion in an emergency funding for Nigeria.
This fund is expected to be approve so as to be part of help the country gets to help cushion the nation’s economy due to the pandemic.
The IMF Executive Board will get to meet this coming Tuesday so as to review the request, according to Bloomberg.
This will be the largest allocation by the IMF to an African country to help assist with the Covid-19 pandemic and it is to be paid within five years.
Zainab Ahmed, The country’s Minister of Finance as said the loan is a means of help for the country to fight this coronavirus pandemic which as seen everyone stay at home during this lockdown.
The first case was confirmed on February 27 with a man returning from Italy and since then, it has risen rapidly forcing people to stay at home and schools and some other activities as also been shutdown in the country with the Health workers fighting hard to stop the spread.
There have been more than two million cases globally with more than 150 thousand resulting to death.