This archive report was first published on 7 August 2020.
On August 6, 2020, Nigeria's government announced the extension of the second phase of nationwide lockdown for four weeks, marking the third time the government has extended the eased lockdown.
The lockdown, which was initially imposed in March for five weeks in the Federal Capital Territory, Lagos, and Ogun State, has been a recurring theme in Nigeria's fight against COVID-19. The first phase of relaxed lockdowns commenced in May, characterized by a nationwide night curfew (8pm to 6 am) and elapsed on June 1.
On June 2, Nigerian authorities imposed the second phase of lockdown, which was extended on June 29 by four weeks to July 29. This was then extended by a week, prompting the latest extension.
Boss Mustapha, chairman of the presidential task force on COVID-19, stated that the latest extension will strengthen collaboration between the federal and state governments to harmonize Nigeria's COVID-19 response.
Nigeria has recorded the third highest coronavirus infections, with 44,890 cases and 927 deaths.
Economic Impact ¶
The lockdown has had a significant economic impact on Nigeria, with the country's economy suffering revenue losses due to low demand for its main export, crude oil. According to the World Bank, Nigeria's economy is expected to contract by 3.2 percent in 2020, translating to a $20 billion loss to GDP.
The fall of crude oil prices has hurt Nigeria's foreign exchange inflows, with oil contributing the largest amount of foreign exchange. The country has also had to revise downwards crude production from 2.18 million to 1.94 million barrels per day (bpd) and crude price outlook from $57 to $25 per barrel, leading to a depreciation of the Naira against the US dollar.
