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    Nigeria Begins Phased Re-Opening of Economy

    Eunniah
    By Eunniah Mbabazi
    - May 01, 2020
    - May 01, 2020
    African Wall Street
    Nigeria Begins Phased Re-Opening of Economy

    Nigeria has unveiled plans to restart the economy in phases as from 4th May 2020, a measure that seeks to reduce the pains of socio-economic disruptions while strengthening the public health response.

    The Federal Capital Territory (FCT), Lagos, and Ogun States have been on lockdown for more than four weeks now, in a bid to curb the spread of coronavirus.

    The reopening of the economy will be done in phases, spanning a total of six weeks, and broken into three tranches of two weeks each.

    As part of its easing process, the federal government has limited the total operating hours for all commercial banks nationwide to only six hours per day, from 8 a.m to 2 p.m.

    Additionally, all arrivals in Nigeria will undergo mandatory supervised isolation for at least 14 days.

    The overnight curfew is applicable nationwide from 8 p.m. to 6 a.m. daily, with a ban on interstate movements except for essential services.

    Meanwhile, South Africa is set to begin phased easing of its lockdown starting today. Travel restrictions will be eased, and some industries will be allowed to operate under a five-level risk system.

    Ghana also lifted its three-week restriction on movements of persons within parts of Greater Accra, Tema, Kasoa, and Kumasi metropolitan areas. However, its borders remained closed, with restrictions on the social gathering of more than 25 people still in effect.

    In Europe, carmakers, including Toyota, Renault, Hyundai, Volkswagen, and Volvo, are slowly preparing to reopen their manufacturing plants in order to get European economies back on track, albeit gradually.

    See Also:

    South Africa to Begin Easing Lockdown in Phases

    Ghana Lifts Ban on Movement

    The Kenyan Wall Street

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