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Transcript of President Buhari’s Speech on COVID-19 on Sunday

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ADDRESS BY H.E. MUHAMMADU BUHARI, PRESIDENT OF THE FEDERAL REPUBLIC OF NIGERIA ON THE COVID- 19 PANDEMIC SUNDAY 29TH MARCH, 2020

1. Fellow Nigerians,

2. From the first signs that Coronavirus, or COVID-19 was turning into an epidemic and was officially declared a world-wide emergency, the Federal Government started planning preventive, containment and curative measures in the event the disease hits Nigeria.

3. The whole instruments of government are now mobilized to confront what has now become both a health emergency and an economic crisis.

4. Nigeria, unfortunately, confirmed its first case on 27th February 2020. Since then, we have seen the number of confirmed cases rise slowly.

5. By the morning of March 29th, 2020, the total confirmed cases within Nigeria had risen to ninety-seven.

6. Regrettably, we also had our first fatality, a former employee of PPMC, who died on 23rd March 2020. Our thoughts and prayers are with his family in this very difficult time. We also pray for quick recovery for those infected and undergoing treatment.

7. As of today, COVID-19 has no cure. Scientists around the world are working very hard to develop a vaccine.

8. We are in touch with these institutions as they work towards a solution that will be certified by international and local medical authorities within the shortest possible time.

9. For now, the best and most efficient way to avoid getting infected is through regular hygienic and sanitary practices as well as social distancing.

10. As individuals, we remain the greatest weapon to fight this pandemic. By washing our hands regularly with clean water and soap, disinfecting frequently used surfaces and areas, coughing into a tissue or elbow and strictly adhering to infection prevention control measures in health facilities, we can contain this virus.

11. Since the outbreak was reported in China, our Government has been monitoring the situation closely and studying the various responses adopted by other countries.

12. Indeed, the Director General of the Nigeria Centre for Disease Control (NCDC) was one of ten global health leaders invited by the World Health Organisation to visit China and understudy their response approach. I am personally very proud of Dr Ihekweazu for doing this on behalf of all Nigerians.

13. Since his return, the NCDC has been implementing numerous strategies and programs in Nigeria to ensure that the adverse impact of this virus on our country is minimized. We ask all Nigerians to support the work the Federal Ministry of Health and NCDC are doing, led by the Presidential Task Force.

14. Although we have adopted strategies used globally, our implementation programs have been tailored to reflect our local realities.

15. In Nigeria, we are taking a two step approach.

16. First, to protect the lives of our fellow Nigerians and residents living here and second, to preserve the livelihoods of workers and business owners to ensure their families get through this very difficult time in dignity and with hope and peace of mind.

17. To date, we have introduced healthcare measures, border security, fiscal and monetary policies in our response. We shall continue to do so as the situation unfolds.

18. Some of these measures will surely cause major inconveniences to many citizens. But these are sacrifices we should all be willing and ready to make for the greater good of our country.

19. In Nigeria’s fight against COVID-19, there is no such thing as an overreaction or an under reaction. It is all about the right reaction by the right agencies and trained experts.

20. Accordingly, as a Government, we will continue to rely on guidance of our medical professionals and experts at the Ministry of Health, NCDC and other relevant agencies through this difficult time.

21. I therefore urge all citizens to adhere to their guidelines as they are released from time to time.

22. As we are all aware, Lagos and Abuja have the majority of confirmed cases in Nigeria. Our focus therefore remains to urgently and drastically contain these cases, and to support other states and regions in the best way we can.

23. This is why we provided an initial intervention of fifteen billion Naira (N15b) to support the national response as we fight to contain and control the spread.

24. We also created a Presidential Task Force (PTF) to develop a workable National Response Strategy that is being reviewed on a daily basis as the requirements change. This strategy takes international best practices but adopts them to suit our unique local circumstances.

25. Our goal is to ensure all States have the right support and manpower to respond immediately.

26. So far, in Lagos and Abuja, we have recruited hundreds of adhoc staff to man our call centers and support our tracing and testing efforts.

27. I also requested, through the Nigeria Governors Forum, for all State Governments to nominate Doctors and Nurses who will be trained by the NCDC and Lagos State Government on tactical and operational response to the virus in case it spreads to other states.

28. This training will also include medical representatives from our armed forces, paramilitary and security and intelligence agencies.

29. As a nation, our response must be guided, systematic and professional. There is a need for consistency across the nation. All inconsistencies in policy guidelines between Federal and State agencies will be eliminated.

30. As I mentioned earlier, as at this morning we had ninety-seven confirmed cases. Majority of these are in Lagos and Abuja. All the confirmed cases are getting the necessary medical care.

31. Our agencies are currently working hard to identify cases and people these patients have been in contact with.

32. The few confirmed cases outside Lagos and Abuja are linked to persons who have travelled from these centres.

33. We are therefore working to ensure such inter state and intercity movements are restricted to prevent further spread.

34. Based on the advice of the Federal Ministry of Health and the NCDC, I am directing the cessation of all movements in Lagos and the FCT for an initial period of 14 days with effect from 11pm on Monday, 30th March 2020. This restriction will also apply to Ogun State due to its close proximity to Lagos and the high traffic between the two States.

35. All citizens in these areas are to stay in their homes. Travel to or from other states should be postponed. All businesses and offices within these locations should be fully closed during this period.

36. The Governors of Lagos and Ogun States as well as the Minister of the FCT have been notified. Furthermore, heads of security and intelligence agencies have also been briefed.

37. We will use this containment period to identify, trace and isolate all individuals that have come into contact with confirmed cases. We will ensure the treatment of confirmed cases while restricting further spread to other States.

38. This order does not apply to hospitals and all related medical establishments as well as organizations in health care related manufacturing and distribution.

39. Furthermore, commercial establishments such as;
a. food processing, distribution and retail companies;
b. petroleum distribution and retail entities,
c. power generation, transmission and distribution companies; and
d. private security companies are also exempted.

40. Although these establishments are exempted, access will be restricted and monitored.

41. Workers in telecommunication companies, broadcasters, print and electronic media staff who can prove they are unable to work from home are also exempted.

42. All seaports in Lagos shall remain operational in accordance with the guidelines I issued earlier. Vehicles and drivers conveying essential cargoes from these Ports to other parts of the country will be screened thoroughly before departure by the Ports Health Authority.

43. Furthermore, all vehicles conveying food and other essential humanitarian items into these locations from other parts of the country will also be screened thoroughly before they are allowed to enter these restricted areas.

44. Accordingly, the Hon. Minister of Health is hereby directed to redeploy all Port Health Authority employees previously stationed in the Lagos and Abuja Airports to key roads that serve as entry and exit points to these restricted zones.

45. Movements of all passenger aircraft, both commercial and private jets, are hereby suspended. Special permits will be issued on a needs basis.

46. We are fully aware that such measures will cause much hardship and inconvenience to many citizens. But this is a matter of life and death, if we look at the dreadful daily toll of deaths in Italy, France and Spain.

47. However, we must all see this as our national and patriotic duty to control and contain the spread of this virus. I will therefore ask all of us affected by this order to put aside our personal comfort to safeguard ourselves and fellow human beings. This common enemy can only be controlled if we all come together and obey scientific and medical advice.

48. As we remain ready to enforce these measures, we should see this as our individual contribution in the war against COVID-19. Many other countries have taken far stricter measures in a bid to control the spread of the virus with positive results.

49. For residents of satellite and commuter towns and communities around Lagos and Abuja whose livelihoods will surely be affected by some of these restrictive measures, we shall deploy relief materials to ease their pains in the coming weeks.

50. Furthermore, although schools are closed, I have instructed the Ministry of Humanitarian Affairs, Disaster Management and Social Development to work with State Governments in developing a strategy on how to sustain the school feeding program during this period without compromising our social distancing policies. The Minister will be contacting the affected States and agree on detailed next steps.

51. Furthermore, I have directed that a three month repayment moratorium for all TraderMoni, MarketMoni and FarmerMoni loans be implemented with immediate effect.

52. I have also directed that a similar moratorium be given to all Federal Government funded loans issued by the Bank of Industry, Bank of Agriculture and the Nigeria Export Import Bank.

53. For on-lending facilities using capital from international and multilateral development partners, I have directed our development financial institutions to engage these development partners and negotiate concessions to ease the pains of the borrowers.

54. For the most vulnerable in our society, I have directed that the conditional cash transfers for the next two months be paid immediately. Our Internally displaced persons will also receive two months of food rations in the coming weeks.

55. We also call on all Nigerians to take personal responsibility to support those who are vulnerable within their communities, helping them with whatever they may need.

56. As we all pray for the best possible outcome, we shall continue planning for all eventualities.

57. This is why I directed that all Federal Government Stadia, Pilgrims camps and other facilities be converted to isolation centers and makeshift hospitals.

58. My fellow Nigerians, as a Government, we will avail all necessary resources to support the response and recovery. We remain committed to do whatever it takes to confront COVID-19 in our country.

59. We are very grateful to see the emerging support of the private sector and individuals to the response as well as our development partners.

60. At this point, I will ask that all contributions and donations be coordinated and centralized to ensure efficient and impactful spending. The Presidential Task Force remains the central coordinating body on the COVID-19 response.

61. I want to assure you all that Government Ministries, Departments and Agencies with a role to play in the outbreak response are working hard to bring this virus under control.

62. Every nation in the world is challenged at this time. But we have seen countries where citizens have come together to reduce the spread of the virus.

63. I will therefore implore you again to strictly comply with the guidelines issued and also do your bit to support Government and the most vulnerable in your communities.

64. I will take this opportunity to thank all our public health workforce, health care workers, port health authorities and other essential staff on the frontlines of the response for their dedication and commitment. You are true heroes.

65. I thank you all for listening. May God continue to bless and protect us all.

President Muhammadu Buhari
29th March 2020.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

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DisCos Collect N196bn in March, Miss N50bn of Billed Revenue

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Electricity Subsidy Q1 2024

By Adedapo Adesanya

Nigeria’s electricity distribution companies (DisCos) generated N196.13 billion in revenue in March 2026, despite billing customers a total of N246.43 billion during the month, according to the latest commercial performance report released by the Nigerian Electricity Regulatory Commission (NERC).

The figure represents a slight decline from the N196.68 billion collected in February, highlighting persistent challenges in revenue recovery across the power distribution segment, even as energy supplied to the grid continued to improve.

NERC’s March 2026 fact sheet showed that electricity billing rose by 1.71 per cent from N242.29 billion recorded in February, reflecting increased energy deliveries and customer charges. However, collection efficiency declined to 79.59 per cent from 81.17 per cent in the previous month, indicating that a significant portion of billed revenue remained uncollected.

The regulator disclosed that DisCos received 293.76 million kilowatt-hours of electricity during the review period, representing a 6.02 per cent increase compared to February. The development suggests a modest improvement in power availability across the distribution network.

Despite the increase in energy supplied, revenue recovery remains uneven across the industry. NERC reported that the average approved tariff for March stood at N124.30 per kilowatt-hour, while actual collections averaged ₦100.75 per kilowatt-hour, resulting in an overall revenue recovery efficiency of 81.05 per cent.

Among the eleven DisCos, Ikeja Electric emerged as the strongest performer, posting a revenue recovery efficiency of 99.30 per cent. Eko Electricity Distribution Company followed with 95.73 per cent, while Benin DisCo recorded 85.18 per cent.

At the lower end of the performance table, Kaduna Electric recorded the weakest recovery rate at 35.65 per cent. Jos DisCo and Yola DisCo also struggled, achieving recovery efficiencies of 53.53 per cent and 58.58 per cent, respectively.

Ikeja Electric also led in collection efficiency with 96.38 per cent, ahead of Benin DisCo at 90.97 per cent and Eko DisCo at 87.68 per cent. Kaduna, Jos and Yola remained the poorest performers in this category, underlining the persistent commercial and operational challenges facing power distributors in parts of northern Nigeria.

In terms of billing efficiency, Eko DisCo ranked first with 92.30 per cent, followed by Port Harcourt DisCo at 90.36 per cent and Ikeja Electric at 87.76 per cent. Yola DisCo recorded the lowest billing efficiency at 58.68 per cent.

The latest figures underscore the mixed realities within Nigeria’s power sector. While electricity supply and customer billing continue to improve, revenue collection remains a major obstacle to the financial sustainability of the industry.

Analysts note that stronger metering penetration, improved customer confidence, reduction in energy theft and more efficient collection systems will be critical if DisCos are to close the widening gap between electricity supplied, billed revenue and actual collections.

The March performance report comes as regulators and industry stakeholders intensify efforts to strengthen the commercial viability of the electricity market, attract fresh investment and improve service delivery across the country.

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Interswitch Adopts Temenos Platform to Deliver Banking Services to African Lenders

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Interswitch

By Adedapo Adesanya

Interswitch has entered into a partnership with Geneva-headquartered banking software provider Temenos to offer managed banking services to financial institutions across the continent, deepening its push into banking technology.

The partnership will see Interswitch adopt Temenos’ banking technology across core banking, digital banking, payments, wealth management, and financial crime management.

This will enable the firm to provide cloud-hosted and on-premises managed services to lenders on the continent. The service will initially target Nigeria, Ghana, Côte d’Ivoire, Kenya, and other African markets.

“This is a pivotal moment for Interswitch as we accelerate our expansion beyond payments and reimagine digital banking for Africa,” Mr Jonah Adams, managing director for Digital Infrastructure and Managed Services at Interswitch, said in a statement.

By combining Temenos’ software with its existing footprint across the continent, Interswitch is positioning itself as a technology partner that can help banks upgrade critical systems without having to manage the complexity of large-scale technology deployments.

“By adopting Temenos’ cloud-native, composable platform, Interswitch gains the flexibility and scalability to accelerate its next phase of growth and deliver banking services that meet the needs of African markets,” Mr Adams added.

For Temenos, the deal strengthens its presence in Africa through a partner with deep relationships across the banking sector. It lost one of its banking customers, Sterling Bank, in 2024 after the tier-2 Nigerian bank switched to SEABaaS, a new custom-built core banking application.

“Interswitch is an important new customer and partner for Temenos in Africa,” said Mr William Moroney, Chief Revenue Officer at Temenos. “Interswitch’s strong presence across the continent also extends our reach and further strengthens our ecosystem and partner network.”

Founded in 2002, Interswitch built its reputation as one of Africa’s largest payments companies through products such as Quickteller and Verve, its domestic card scheme.

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TGI Group, Wilmar to Form $12bn West Africa Food Giant in Major Merger

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tgi group Wilmar

By Adedapo Adesanya

Tropical General Investments (TGI) Group and Singapore-based Wilmar International have agreed to combine their Nigeria and Republic of Benin operations into a 50:50 joint venture aimed at building a dominant integrated food and agribusiness platform across West Africa, targeting a market estimated at $12 billion.

The proposed merger will consolidate operations across several value chains, including agriculture, oil palm plantations, edible oils, edible nuts, rice, food manufacturing, and distribution, creating one of the region’s largest end-to-end food production and supply chains.

Under the arrangement, both firms will integrate their complementary strengths, with Wilmar contributing global expertise in palm oil, speciality fats, and large-scale agribusiness operations, while TGI brings established local manufacturing capacity, consumer brands, and an extensive distribution network across Nigeria and neighbouring markets.

Chairman and Chief Executive Officer of Wilmar International, Mr Kuok Hong, said the partnership would enhance both firms’ ability to serve Africa’s expanding consumer base, describing Nigeria and Benin as strategic growth markets.

“For more than four decades, TGI Group has built a leading position in Nigerian food manufacturing and distribution. This partnership will leverage Wilmar’s global scale and expertise as well as TGI’s local knowledge to deliver innovative food solutions across Africa,” added TGI Group founder and chairman, Mr Cornelis Vink.

On his part, Vice Chairman of TGI Group, Mr Farouk Gumel, said the deal reflects confidence in Nigeria’s long-term economic prospects, adding that it would deepen domestic value addition, strengthen food security, support smallholder farmers, and create jobs.

Adding his input, Wilmar’s Africa Head, Mr Santosh Pillai, described the transaction as a strategic fit, noting that the combined entity would have the scale, local insight, and operational depth needed to better serve consumers in the region.

The companies said the transaction is expected to be completed in the 2026 financial year, subject to regulatory approvals and other customary conditions.

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