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Tuesday 21 September 2021
HomeAfricaNigeria: 'Economy may lose US$3.5b to Ebola'

Nigeria: ‘Economy may lose US$3.5b to Ebola’

The Ebola Virus Disease (EVD) may cost the Nigerian economy US$3.5 billion by December if it has not been contained by then, according to the Chief Executive Officer, Financial Derivatives Company Ltd., Mr. Bismarck Rewane,

The local media reported Monday that Mr. Rewane made the assertion in the firm’s latest report, noting that the fear of the disease had affected economic activities significantly.

He listed the sectors of the economy mostly affected by the fear of the disease as aviation, tourism and hospitality, trade, medical and agriculture.

“Analysing these sectors’ contribution to the Gross Domestic Product shows that Nigeria may lose about $2bn in the first quarter of the outbreak. The chance of the outbreak going into a second quarter is very slim; which could extend the loss to $3.5bn,” Mr. Rewane said

The EVD has generated much fear in Africa’s most populous nation since it was reported there on 25 July, when a Liberian infected with the virus died of the disease in Nigeria’s commercial city of Lagos.

Since then, three Nigerians have died while six are undergoing treatment. Out of the six, one person has been discharged after successful treatment while the remaining five are said to be recovering well.

The World Health Organization (WHO) said no new EVD cases have been reported in Nigeria, even though almost 200 people have been put under surveillance.

According to WHO, 1,145 people have died of the disease mostly in Guinea, Liberia and Sierra Leone since the latest outbreak, which started in December 2013 in Guinea.

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