What will happen in 2020 in nigeria

However, for governments that are commodity dependent, the fall in the global demand for commodities stemming from the pandemic will significantly increase their fiscal deficits. Indeed, the steep decline in oil prices associated with the pandemic has necessitated that the Nigerian government cut planned expenditure.

In fact, on March 18, the minister of finance announced a 1. The restrictions on movement of people and border closures foreshadow a decline in exports. Already, countries around the world have closed their borders to nonessential traffic, and global supply chains for exports have been disrupted.

Although the exports of countries that devalue their currency due to the fall in the price of commodities like Nigeria , will become more affordable, the limited markets for nonessential goods and services nullifies the envisaged positive effect on net exports. In addition, the interest rates on all CBN interventions have been revised downwards from 9 to 5 percent, and a one-year moratorium on CBN intervention facilities has been introduced, effective March 1. Furthermore, the government has introduced import duty waivers for pharmaceutical companies and increased efforts toward ensuring that they receive forex.

Given the size and scope of the economic impact of the pandemic, there is the need to implement other recovery strategies to stimulate demand. Thus, we recommend the following fiscal and monetary policy measures:. Improved revenues can narrow the fiscal deficit to 4.

Reopening borders will increase access to inputs, easing pressure on domestic prices and inflation, projected at Downside risks include reduced fiscal space, should oil prices remain depressed. In addition, flooding and rising insecurity could hamper agricultural production. This was half the amount it received in the corresponding period of The revenue yield in from an increase in the value-added tax rate to 7. Meanwhile, the government has argued that they have fulfilled and is allotting N70m for the revitalisation of universities.

Although the source of his wealth was sometimes questioned by inquisitive Nigerians, the social media celebrity was a source of inspiration to his 2 million influencers. Besides having luxury cars, using private jets, and exclusive designer pieces, he received praises from international football stars and was friends with some Nigerian politicians.

Hushpuppi was identified as one of the brains behind the Business Email Compromise BEC scams, hacking corporate emails, redirecting financial transfers and stealing bank details. United States authorities also said an English Premier League club was among the victims he conspired to defraud. He has since been extradited to the US, where he faces a maximum prison sentence of 20 years if found guilty.

Marvel Studios announced on Thursday that filming had begun on its latest superhero epic which for the first time will feature a black actor, Chadwick Boseman, in the titular role.

The death of Chadwick Boseman, best known for playing the superhero Black Panther, came as a shock to the world. Boseman was diagnosed with stage III colon cancer in , which eventually progressed to stage IV before Boseman died at his home as a result of complications related to colon cancer on August 28, , with his wife and family by his side. On August 29, , the day after Boseman died, the tweet in which his family announced his death on his Twitter account became the most-liked tweet ever, with more than 6 million likes in under 24 hours, and accumulating over 7 million by August Exactly 12 years before the commencement of the EndSARS protests that culminated into an international cry and movement against police brutality and injustice in Nigeria, Modebayo Awosika was driving home in his SUV in the early hours of October 1, , when he was shot in the head at Lekki first roundabout, Lekki in Lagos.

The Police set his car on fire and claimed he died from injuries he sustained when his vehicle hit a stationary police patrol vehicle. That was just one just one out of numerous cases of extra-judicial killings which saw thousands of young Nigerians take to the street protesting for the disbandment of the notorious police unit, SARS that have been accused of kidnapping, murder, theft, rape, torture, unlawful arrests, humiliation, unlawful detention, extrajudicial killings and extortion of Nigerian citizens.

Protests took place in several cities across Nigeria and gained international attention with similar demonstrations organised by the Nigerian diaspora in the United States, Canada, the United Kingdom, Germany, Ireland and other countries.

Amnesty International stated that at least 12 protesters were killed during the shooting. The Nigerian Army denied the shooting. A month after the incident, on Saturday 21st November, in response to the fallout of a CNN documentary on the shooting, the Nigerian Army admitted to the Lagos Judiciary panel of inquiry into the shooting that it had deployed its officers to the toll gate with both live and blank bullets.

Palliatives was one of the most used words this year as countries sought to help quell the impact of the COVID In Nigeria, the poverty capital of the world, the reverse was the case. In the past few years, we have had a snake and a monkey interfere in allotted missing finances. This year took a rather unexpected turn.

Some Nigerian politicians were seen to be hoarding palliatives for use as birthday hamper packages while others kept them in unexpected places. Like people awakened from slumber, a part of the 86 million Nigerians living in absolute poverty discovered warehouses, where the Coalition Against Covid CACOVID palliatives worth N23b were stored and carted away food items include noodles, pasta, and garri.

Some of the items, destroyed by the storage. On The Cover. By The Guardian Life. We have curated a list of events that shook both around the globe and in Nigeria: Kobe….

Major Events That Shook Kobe Bryant and daughter Gianna — Getty Images. Guardian Life.