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UPDATE 2-Nigeria needs $330 million for coronavirus battle, turns to private sector

Published 27/03/2020, 16:06

(Adds downstream companies assistance)
ABUJA, March 27 (Reuters) - Nigeria has appealed to private
companies to make voluntary contributions towards the 120
billion naira ($330 million) the government says it needs to
fight the coronavirus epidemic.
"So far, the federal government has made giant strides in
the fight but it is clear that the private sector needs to step
in and support efforts already being made," Central Bank
Governor Godwin Emefiele said.
The crash in oil prices, which have fallen by nearly two-
thirds this year due in large part to a coronavirus-induced
demand collapse, has seriously battered Nigeria's finances.
Finance Minister Zainab Ahmed this week pledged 6.5 billion
naira to the Nigeria Centre for Disease Control, and a further
10 billion naira for Lagos state, which has the bulk of the
nation's confirmed cases
"To procure all needed equipment, material, and all
infrastructure needed to fight this pandemic, over N120b need to
be raised," Emefiele said.
He has formed a coalition led by the Aliko Dangote
Foundation and Access Bank that is already working to raise
funds.
On Friday, Nigeria's state oil company NNPC pledged $30
million, with the help of 33 oil companies, including
international majors Royal Dutch Shell RDSa.L and ExxonMobil
XOM.N and Nigerian companies Oando, Lekoil and Seplat.
NNPC said it would offer more in partnership with downstream
companies. That assistance, offered by companies, includes 200
ambulances, test kits and laboratory equipment, NNPC said in a
tweet.
Bank UBA Group, led by Tony Elumelu, on Thursday pledged 1
billion naira to Nigeria as part of a broader 5 billion naira
coronavirus donation. Other prominent Nigerians, including
Dangote and five others, would ensure their organizations also
contribute 1 billion naira each, Emefiele said.
As of Friday, Nigeria had 65 coronavirus cases and one
death.

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($1 = 361 naira)

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