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Nigerians should be ready to pay high or low prices for petrol following the price liberalisation scheme currently in place, the Petroleum Products Pricing Regulatory Agency said on Monday. The PPPRA is also engaging with the Central Bank of Nigeria to determine the applicable foreign exchange rates for the importation of petroleum products by oil marketers. The agency’s Executive Secretary, Abdulkadir Saidu, said these while answering questions on the new PMS price regime in Nigeria. He said, “What we have in place is a market reflective pricing system. Petroleum products prices will be adjusted in line with market realities and the result is what we see presently with prices on the downward slide. Accordingly, price will naturally be adjusted to reflect a true picture of market fundamentals at any particular period, high or low.” He, however, noted that efforts were being made to develop alternative fuels to the PMS by deepening the utilisation of Liquefied Petroleu...

64 new cases of #COVID19 reported; 34-Lagos 15-FCT 11-Borno 2-Taraba 2-Gombe As at 11:20pm 27th April- 1337 confirmed cases of #COVID19 reported in Nigeria. Discharged: 255 Deaths: 40

Billionaire and philanthropist, Bill Gates, who had warned about a possible virus pandemic since 2015, has disclosed that a vaccine for the rampaging COVID-19 disease may come between 18-24 months. He made this known on NBC Today Show that there is evidence that this timeline may come to pass. According to the Microsoft co-founder, usually, a vaccine takes over five years. There are steps including first testing in animals, then with humans on small, medium and large scales. But with the coronavirus pandemic, “because of all the incredibly negative effects, the sooner the better,” “The best scientists [are] working hard on this,” Gates said. “In fact, in the last few weeks, I’ve seen signs that we may get to the optimistic side of that time projection” for a vaccine. Gates said that while many countries have coordinated testing on a national level during the coronavirus pandemic, the United States has not, and access to tests is “chaotic.” On Friday, he called ...

- President Buhari has eased the lockdown in Lagos, Ogun and the FCT - The president made this known in a nationwide broadcast to Nigerians on Monday, 27 - New nationwide measures were however introduced including a ban on non-essential inter-state passenger travel until further notice President Muhammadu Buhari has eased the lockdown measures imposed on Lagos, Abuja and the Federal Capital Territory, Abuja beginning from Saturday, May 2. The president made this known in a nationwide broadcast to Nigerians on Monday, 27 after the end of a one-month lockdown since Monday, March 30. President Buhari stated that the decision is in line with the recommendations of the Presidential Task Force on COVID-19, various federal government committees and the Nigeria Governors Forum.  He said: “I have approved a phased and gradual easing of lockdown measures in FCT, Lagos and Ogun states effective from Monday, 4th May 2020.  “However, this will be followed strictly with aggressive rei...

- The APC national leader, Bola Tinubu, and his wife have tested negative for COVID-19 - The former Lagos state governor and his wife decided to take the test after it was discovered his late CSO died of coronavirus - Meanwhile, another aide of the APC leader tested positive to the disease and has been isolated while his contacts are now being traced The national leader of the All Progressives Congress (APC), Asiwaju Bola Ahmed Tinubu, has tested negative for COVID-19. His wife, Senator Remi Tinubu, also tested negative to the infectious disease, according to a statement released by the media office of the former Lagos state governor, The Cable reports. Legit.ng gathers that the two decided to take the COVID-19 test after it was discovered his late chief security officer (CSO), Lateef Raheem, had COVID-19, a statement released on Monday, April 27, by Tunde Rahman, Tinubu's spokesman, disclosed. President Buhari reacts as mother of DSS boss dies However, another aide of the APC le...

- The Emir of Kano, Alhaji Aminu Ado Bayero, has released a statement over the reported mass deaths in the ancient city - The monarch confirmed the mass deaths but said they were not as a result of the coronavirus pandemic - Emir Bayero also urged Kano residents to abide by all the preventive measures announced by the NCDC regarding COVID-19 The Emir of Kano, Alhaji Aminu Ado Bayero, has confirmed that the mass deaths reported in Kano state but maintained that they were not from COVID-19 as alleged in some quarters.  The monarch said in a statement released on Sunday, April 26, that he was informed by the state’s Ministry of Health that the mass deaths were not as a result of the COVID-19 pandemic, Channels TV reports. Emir Bayero prayed for the repose of the souls who lost their lives and also prayed for the quick recovery of those infected with COVID-19.  The monarch also called on parents to ensure their children do not continue to play football on the streets in disre...

The Minister of Health, Dr Osagie Ehanire, has said President Mohammadu Buhari would determine when to lift the lockdown occasioned by the novel Coronavirus pandemic in the country. Ehanire said this on  Sunday Politics  programme on  Channels Television  in Abuja. The  News Agency of Nigeria  reports that on April 13, Buhari announced a 14-day extension of lockdown in Lagos, Abuja and Ogun states to combat the pandemic. The i nitial 14-day lockdown in the three states began on March 30.  “The President in his wisdom will decide if the lockdown will be lifted,” he said. The minister said that the decision to extend COVID-19 lockdown was tailored according to the needs of every country. “We do think that the restriction of movement limits significantly the spread of the virus. “The models we have seen show that we have not got to the peak yet,” he said. Ehanire advised Nigerians that if their symptoms were not meeting the case definit...

The dollar sold for N450 in the parallel market on Friday, showing a shallow and dry reflection of the foreign exchange market. Impact of the crude oil prices which had been fluctuating, and fell to as low as $21, had also been taking its toll on the strength of the naira. The President, Association of Bureau De Change Operators of Nigeria, Alhaji Aminu Gwadabe, said, the N450/$ rate that closed the week (Friday) was a reflection of the shallowness and dryness of the foreign exchange market. He said this was coupled with the impact of trading on the FMDQ market on future derivatives and the negative territory of our crude oil prices. He said, “The crash of naira rate in the parallel market to a high of N450/$ yesterday (Friday) as a result of the shallowness and dryness of the market. Gwadabe added, “It is our resolve to enhance liquidity in the foreign exchange market and help discover a true market exchange rate that is devoid of speculative and hoarding activitie...

The Director General of the Nigeria Centre for Disease Control,  Dr Chikwe Ihekweazu,  on Sunday said  Nigeria needed to stock more of the RNA extraction kits to cater for the expansion of its COVID-19 testing capacity. Writing on his twitter handle, @Chikwe_I, Ihekweazu, he gave specification of the test kits Nigeria was looking for and preferred manufacturers. He said, “We’re desperately looking for more RNA (Ribonucleic Acid) extraction kits as we expand #COVID19 testing. Product: Total viral RNA extraction kits (preferably spin column and with a lysis buffer). Manufacturers: Qiagen, ThermoFischer, SeeGene, Inqaba, LifeRiver etc.” The centre earlier said it had added two more laboratories to the existing 13 laboratories established in the country, but Ihekweazu’s tweet raised the fear that Nigeria might lack enough kits to test suspected cases for COVID-19. During a briefing of the Presidential Task Force for COVID-19 in Abuja on Tuesday, the NCDC DG ha...

The President, Major General Muhammadu Buhari (retd.), on Sunday, received briefing from the Minister of Health, Dr Osagie Ehanire; and the Director General, Nigeria Centre for Disease Control, Chikwe Ihekweazu, on the latest development on coronavirus and the reported strange disease in Kano State. Ehanire, who spoke to State House correspondents on the outcome of the closed-door meeting in Abuja, said they briefed the President on the activities and overall positions of the Presidential Task Force on COVID-19.   The briefing of Buhari by the minister and the NCDC boss came barely 24 hours before the expiration of the 14-day extension to a lockdown in Lagos, Ogun and the Federal Capital Territory to combat the pandemic. The President had, on April 13, announced a 14-day extension to a lockdown in the three territories to combat the deadly virus. The minister said the PTF presented to the President its advice and recommendations on way forward as regards the ongoing f...