U.S. COVID-19 Aid – The Commerce Africa https://thecommerceafrica.com African Reneissance Mon, 13 Jul 2020 08:16:04 +0000 en-US hourly 1 https://wordpress.org/?v=5.9 Oil Prices Fall Amidst COVID-19 Concern https://thecommerceafrica.com/oil-prices-fall-amidst-covid-19-concern/ https://thecommerceafrica.com/oil-prices-fall-amidst-covid-19-concern/#respond Mon, 13 Jul 2020 08:16:03 +0000 http://thecommerceafrica.com/?p=1012 Oil prices dropped on Monday, amid concerns that a record rise in COVID-19 infections could stall global recovery in fuel demand.

The WHO Sunday reported a record daily rise in virus cases worldwide. In the US, Florida reported over 15 thousand new virus infections Sunday, the highest single-day total to date for any US state since the health crisis began in the country.

At the same time, investors are looking at an OPEC technical meeting this week, which is expected to recommend an easing in supply cuts. At around 06:00 AM GMT, WTI crude fell 0.8% to $40.23 a barrel, while Brent crude was down 0.7% to $42.94 a barrel.

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U.S Boast of N15.5bn COVID-19 Aid to Nigeria https://thecommerceafrica.com/u-s-boast-of-n15-5bn-covid-19-aid-to-nigeria/ https://thecommerceafrica.com/u-s-boast-of-n15-5bn-covid-19-aid-to-nigeria/#respond Fri, 03 Jul 2020 08:38:50 +0000 http://thecommerceafrica.com/?p=829 The United States’ COVID-19 emergency aid to Nigeria rose to 41.3 million dollars (N15.5 billion) as of Thursday, according to the Department of State.

This represents an additional 11.3 million dollars (N4.2 billion) compared with the 30 million dollars (N11.2 billion) assistance to Nigeria announced by the U.S. in May.

In a statement on Thursday, the department said the amount was part of a 1.3 billion dollar (N488.8 billion) COVID-19 aid so far announced by the government for 120 countries.

It gave a breakdown of Nigeria’s share to include 3.3 million dollars (N1.2 billion) for health assistance.

According to the statement, 34 million dollars (N12.7 billion) is meant for “humanitarian funding for risk-communications, water and sanitation, infection-prevention, coordination and emergency food assistance”.

It added that 4.1 million dollars or N1.5 billion is reserved for humanitarian assistance for vulnerable people, including internally displaced persons.

“This assistance joins more than 8.1 billion dollars (N3 trillion) in total assistance for Nigeria over the past 20 years, including more than 5.2 billion dollars (N1.9 trillion) for health”, it said.

The department said the total 1.3 billion dollar package was in addition to not less than 100 billion dollars (N37.6 trillion) in global health funding by the U.S. in the last 10 years.

It added that the country had also dished out nearly 70 billion dollars (N26.3 trillion) in “overseas humanitarian assistance” within the period.

As of Tuesday, Nigeria had 26,484 confirmed cases of COVID-19 with 603 deaths and 10,152 recoveries, according to the Nigeria Centre for Disease Control (NCDC).

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