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Economy, Finance, Business News Headlines & Insights: 21st April 2020

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Stock Market Update:

Nigeria’s equity market is currently down by 1.19%. FTSE (UK) – down by 1.77%, DAX (Germany) – down by 2.73%, CAC 40 (France) – down by 2.52% and Nikkei 25 (Japan) – down by 1.97%.

Click on the link https://bit.ly/2XrvIf9 to open a stockbroking/share purchase account and trade within 24 hours.

Oil Market Update:


The negative closing price of WTI futures price yesterday can be interpreted to mean sellers desperately paying buyers to take US crude from them. As an example, WTI is currently trading at -$6.3, it means suppliers of oil have to give $6.3 to buyers willing to take one barrel of their oil.

Why will a seller pay a buyer to take a product away? In this case of oil-storage trade, the sellers want to avoid storage costs.

In a WTI futures contract, the buyers of WTI oil are required to take physical delivery of their oil at a location called Cushing, Oklahoma in the United States. Sadly, the storage capacity of that location had been exhausted as a result of oil glut and destruction of demand by COVID-19, and buyers don’t want to take delivery of oil without a place to store it before getting a final buyer. Sellers were therefore compelled to pay buyers an incentive, the reason for the negative closing price of WTI on 20th April.

Aside from the real activities of Buyers and Sellers, Oil as a commodity is heavily traded on exchanges.

The closing price of the WTI yesterday was more of a function of the commodities trading market than underlying fundamentals, more about the activities of pure Investors than the reality on the ground. You will be right to call it panic.

WTI futures expired yesterday, meaning that pure Investors had to sell May’s contract and purchase June to avoid having to make good on their purchase and also avoid storage costs, because there was no storage capacity available in Cushing, Oklahoma.

The main takeaway here is that this challenge is peculiar to the US and the price of WTI is expected to make a comeback in no time.

As for Brent, the unprecedented crash in WTI will not crash Brent prices as Brent contracts will expire at the end of the month.

Nigeria’s Bonny Light futures prices will not be affected too, for now.

Current prices: WTI -$6.3, Brent $21.57, Bonny Light $20.88

Money Market Update:

Nigeria’s annual inflation rate rose for the seventh consecutive months to 12.26 per cent in March, the highest in 23 months from 12.2 per cent in February. The Nigeria Bureau of Statistics (NBS) disclosed this today in its Consumer Price Index Report for March 2020. Read more

At the current rate of inflation, you need returns that will take you closer to growing your wealth in real terms, we can provide that.

Our money market fund is still open and yield is currently over 11.5%, reach out to our team to grow your cash. We are digital, we are working from home, we are online and we are active. You can also do deposits with us at a starting rate of 10%.

Click to subscribe to our money market fund https://trustbancasset.com/moneymarket/

Earnings Flash: United Capital grow earnings by 32.23% and PAT by 53.89%, see highlights in the image below.

Headlines:

BREAKING: 38 New Cases Of COVID-19 Confirmed By The NCDC
Thirty-eight new cases of #COVID19 have been recorded;  says the Nigeria Centre for Disease Control (NCDC). This brings the total number of cases confirmed to 665. According to the NCDC, 23 cases were discovered in Kano, 5 in Gombe, 3 in Kaduna, 2 in Borno, 2 in Abia, 1 in FCT, 1 in Sokoto and 1 in Ekiti. Read more
Latest on the spread of the coronavirus around the world
Reported cases of the coronavirus have crossed 2.46 million globally and 169,863 people have died, according to a Reuters tally as of 0200 GMT on Tuesday, with U.S. President Donald Trump saying he will suspend all immigration into the country. Read more
Nigeria’s Airports Will Remain Shut For Two More Weeks – Aviation Minister
Airports in Nigeria will not be reopened on April 23rd as earlier scheduled. Instead, they will remain shut for two more weeks, a statement from the Ministry of Aviation said on Monday. “As a result of the extension on lockdown by Mr President, it is no longer possible for us to open our airspace and airports for normal operations by the 23rd April 2020,” the Minister of Aviation, Hadi Sirika, was quoted as saying in a statement by the Director of Public Affairs in the ministry, James Odaudu. Read more
Brent crude crashes to $25, US oil falls below $1
The international oil benchmark, Brent crude, fell to $26 per barrel on Monday, as the demand collapse triggered by the COVID-19 pandemic has caused a massive oversupply in the global oil markets. The lockdowns imposed in many of the world’s major economies have sent crude demand tumbling. US oil prices crashed below $0 per barrel on Monday, hitting the lowest level since the contract launched in 1983, on warnings that storage could fill up within weeks, according to Financial Times. Read more
COVID-19: Insurers set to pay N3m on deceased doctor
Nigerian insurers have said they are ready to pay N3m to the first medical casualty who died while taking care of a COVID-19 patient in fulfilment of their promise to provide free cover for medical personnel. Some underwriters disclosed this to our correspondent after a 51-year-old medical doctor died recently of COVID-19, which he contracted from a patient he had treated. The doctor died at the Lagos University Teaching Hospital after he was rushed to the facility. Read more
Corporate Disclosures:

UAC of Nigeria Plc – Dividend Information for 2019 AFS
A Dividend of 10 kobo per ordinary share, subject to appropriate withholding tax and approval will be paid to shareholders whose names appear in the Register of Members as at the close of business on the Monday 18th May 2020. Read more
Sunu Assurances Nigeria Plc – Notice of Board Meeting and Closed Period for 2020 Q1 Accounts
Notice is hereby given that a virtual meeting of the board of directors of SUNU Assurance Nigeria Plc (the company) would hold on Thursday, May 7 2020 at 10.00 am to consider and approve the first quarter 2020 unaudited financial statement. Read more

Oil Price Crash: What Are Nigeria’s Economic Alternatives?

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Nigeria leaders

Crude oil price slumped below $0 per barrel on Monday, turning the oil market to negative and killing every hope that has been entertained by oil producing countries since the production cut agreement of OPEC members a week ago. The oil output cut wasn’t enough to save the industry from the catastrophe enveloping it now as a result of closed tarmacs, offices and industries. COVID-19 is winning from all angles and there is little hope to hang on right now.

The development has presented the world with a dicey economic hurdle that will take more than total elimination of coronavirus to scale. But for some countries like Nigeria, who 90% of its Gross Domestic Product (GDP) stems from oil, it’s more than a dicey hurdle.

“The oil world has seen many shocks over the years, but none has hit the industry with quite the ferocity we are witnessing today,” IEA said in an article published on its website early in the month. “The impacts will be felt throughout oil’s global supply chains and ripple into other parts of the energy sector.”

Though the Nigerian Bonny Light is still wobbling around $10, while the US WTI Futures has plunged -$54 for the first time in history, it’s not something to count on. Apart from Saudi Arabia, Iraq, Iran and Kuwait, whose production cost falls around and below $10, others have high production cost and have been selling at huge loss. Nigeria, with a production cost of $30 per a barrel has been paying people to buy its oil since the price plummeted below $35.

So it’s no longer a question of when there will be a rebound in the oil market, it’s a question of what the alternative to the Nigerian oil will be. With a mountain of infrastructural responsibility, especially in the health sector, begging for attention, Nigeria is on for a rough ride that will either make or mar her.

Though there is belief that the expiration of the May contract that took effect on Tuesday contributed to the price crash, as the forward curve has not crashed, the contract of June remains at $22 per barrel. But that is as good as nothing, and it only points to the dangers ahead.

Energy expert Alex Gilbert said there is hope that the commodity will stay with the forward curve, but there is also the possibility that the worst will happen.

“This is a terrible sign of what’s to come. It’s entirely possible that we see sub-$10/barrel spot prices all of May. Negative pricing for spot and futures are also possible for most US barrels,” he said.

The bleak future the situation presents brings back some memories that would have saved the situation for Nigeria.

In 2013, crude oil had a peak price of $100.95 its best since 2008. The surge in oil price then increased Nigeria’s revenue generation and put extra cash in the government’s purse. The only challenge lied on appropriation of funds and saving for the rainy days.

The Excess Crude Account (ECA) was created for only one purpose; to save for the times of distress, days like these when oil producers will be paying people to buy from them just so they can clear their stockpile, but it didn’t happen.

In the memo that she narrated her ordeal with governors as the Finance Minister, Ngozi Okonjo-Iweala told how the ECA funds were disbursed to governors for political appeasement, subjugating the objective and jeopardizing all efforts put in place by former president Olusegun Obasanjo, to sustain the excess crude account and save enough for the incoming storm.

“The institution of the Oil Price-based Fiscal Rule (OPFR) and the attendant creation of the Excess Crude Account are regarded as two of the greatest benefits of the macroeconomics reforms,” the memo said.

But the OPFR failed to yield results for one reason alone, the governors lacked the discipline to save and wanted all the money spent as it came. And since there was no law backing the ECA up, the governors stood on the constitution and squandered the wealth.

“The ECA was controversial. The state governors argued that it was unconstitutional because it prevented the sharing of all revenues among the three ties of government, as mandated by the constitution,” the memo added.

It was a fierce battle between the federal government and states. The combined fists of the governors, backed by the constitution, eventually won years later, when Goodluck Jonathan became president and bowed to the pressure.

The ECA was raided and plundered in no time, and the governors who were not thinking beyond their tenure had their full to the detriment of the future. Years later when the National Sovereign Investment Authority (NSIA), a sovereign wealth fund was created, it’s to support a saving culture backed by law. But it’s too late, the glorious old days of booming oil prices had become things of nostalgia, and the need for what was wasted was increasing as oil price kept dwindling.

It’s April 2020, and the Excess Crude Account is depleted to $71.81 million. With the oil market in turmoil, Nigeria is expected to look for another source of revenue generation to sustain the economy and its exploding population.

The former Minister of Education, Dr. Obiageli Ezekwesili said the situation has presented an opportunity for a total economic reset.

“If you are Nigerian, don’t say, “Praise the Lord! Hallelujah,” and then go and relax. Not a time for complacency. It is not all uhuru on this commodity that has defined our country. We need a total reset of our economic growth and development strategy away from oil,” she said.

While many agree with her that Nigeria’s need for economic diversification is long overdue, the concern lies on what the choices are and how they can be attained in this critical time.

What makes the situation uglier than it appears is that there is no other sector with such a huge revenue generation ability to sustain Nigeria’s economy. The agriculture sector that should have served the purpose is still an infant, not tall enough for the giant to rest on its shoulder.

Though Ezekwesili offered an answer to the question saying; “I want education and human capital to be the new oil for Nigeria,” Nigeria’s immediate needs can’t wait for that long.

The $163bn Invoice to China as Compensation for Covid-19 Pandemic in Germany

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On Friday 18, former World Bank Vice President Dr. Obiageli Ezekwesili shared her article published on the Washington Post, where she made the case for China to forgive Africa of its debt as compensation for the ravages of coronavirus on the continent. The logic behind the case is based on the assertion that the pandemic has set Africa 10 years back by eliminating all the economic progress it has made within the period.

It was more to the voices calling to hold China accountable for the economic consequences of COVID-19, which almost every country in the world has had a bite of.

China has been at the center stage of the outbreak that originated in the city Wuhan late last year, and spread like wildfire across continents and countries with devastating impacts. It appears that the controversy is about to take a new dimension. Among many conspiracy theories that have trailed the outbreak is the suspicion that it may have been created in a Chinese lab.

On Saturday, the U.S. President Donald Trump warned that China would face consequences if the suspicion is true, though China has vehemently refuted the claim.

“It could have been stopped in China before it started and it wasn’t, and the whole world is suffering because of it,” Trump told reporters. “If it was a mistake, a mistake is a mistake. But if they were knowingly responsible, then there should be consequences.”

The United States like every other country has watched its economy plunged helplessly, businesses shutting down and people getting thrown out of work.

It is in this vein that the call to hold China to account is being consolidated and the volume is getting on the increase as many more countries join.

The UK and France have been co-advocates of “holding China responsible” for the outbreak of coronavirus – The main reason being the perceived dishonesty of China in handling matters relating to the virus. The UK has joined the U.S. intelligence officials in investigating if the virus originated from a Wuhan lab, setting off a new wave of anger from Western nations.

A story published by DailyMail said Wuhan Institute of Virology was conducting a coronavirus experiment on bats with a $3.7 million U.S. grant, according to documents obtained by the English tabloid. The mammals were captured 1,000 miles away in Yunnan and sequencing of the COVID-19 genome has traced it to bats found in Yunnan caves. It is believed that an accident may have happened exposing the scientists working in the lab {that has now become the center of investigation}, to the virus when they were sprayed by the blood of the animal containing the virus.

The whole world gradually believes that China has something to hide in all these and should be made to pay. The birth of the hashtag #ChinaLiedAndPeopleDied on Twitter reinforces the narrative that there is more that the South Asian country is not telling the rest of the world.

As the hashtag trend last week Friday, China upped the figure of cases in Wuhan, including the diseased by 50%, suggesting that the impact of the virus must have been downplayed through government’s cover ups.

Ryan Fournier, the founder and co-chairman of Turning Point Action said China must be held accountable.

“Unfortunately we will probably never really know how many perished in China. They will continue to lie about this, and blame the United States. We must hold them accountable,” he said.

In her piece, Ezekwesili said that China acted irresponsibly and it collapsed not only the economies of African nations, but also that of the rest of the world. And for that reason, she should be held accountable.

“In short, what Africa must first be accorded in this particular crisis are damages and liability compensation from China – the rich and powerful country that reportedly failed to transparently and effectively manage this global catastrophe,” she said.

While other nations are still talking, contemplating on how to approach the “China must pay” mantra, Germany has sent an invoice. Germany’s largest newspaper tabloid Bild, had last week drawn up an itemized invoice of €149 billion under the title, “China owe us”, as expected compensation from China. They can use an invoice maker & receipt generator for that. Lol.

The tabloid made the calculation based on the economic losses incurred by Germany as a result of the COVID-19 pandemic. The charges include €27 billion tourism revenue, €7.2 billion euros for the German film industry, a million an hour for German airline Lufthansa and €50 billion for German small businesses.

The invoice was drawn based on the calculation of €1,784 per person if Germany’s GDP falls by 4.2%.

In response, China says the invoice is xenophobic and stirs nationalism. It is expected that many more countries will follow suit in no time.

Information Gap: Now Nigeria’s Obstacle in the Fight Against Coronavirus

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Don’t boast about tomorrow, since you don’t know what the day will bring, these are the words of King Solomon in the twenty-seventh chapter of Proverbs and verse one. The truth is, when you wake up every morning you have no idea what will happen to you that day. You hope for a wahala-free day where your expectations and dreams will be a reality. China is fast becoming a superpower; they want to be world power one day but I don’t know if they boast about it like some celebrities in Nigeria. But, whatever, they wanted to become didn’t matter again when the Coronavirus hit Wuhan in late December 2019. The outcome is a further spread resulting in over 2.38 million infections confirmed in at least 185 countries and territories, death toll currently over 165,000. In the last three months, there has been a major shutdown of human activities globally due to this pandemic. 

There is a global threat to human existence and international networks, decline in physical interaction, falling stock and oil prices for as low as $20 per barrel – the lowest in a long time. Life-threatening cases will include the rising number of deaths, hunger, closure of businesses due to lockdown, massive loss of jobs, high unemployment rate, amplified domestic violence emanating from the sit-at-home, etc. While large corporations have encouraged their workers to work remotely, there is a major setback for small businesses that require the physical presence of workers who depend on daily profits to keep body and soul together. The mantra, #stayhome, #staysafe seems the most advertised phrase in the world.

Amid this pandemic, both developed and developing economies are striving to minimize the health and economic risks associated with the outbreak. African and Asian countries like Nigeria and India when compared to their European counterparts are striving to ensure that the best tactics are used to curb the devastating impacts of the epidemic as observed in the US, Spain, and Italy, where hundreds of thousands of people die daily. While the US lockdown strategy seems to be effective due to an effective data management system, the US government is making a huge financial investment in research, testing facilities and social welfare of her citizens, giving over $1000 as a social welfare package, while modifying its strategy every day. 

But Nigeria with over 200 million people is yet to make a reasonable case or even find a path for herself. The Government efforts so far remain; lockdown, emphases on social distancing, contact tracing, testing, isolation and social welfare as paraded by the media. There is a strong case by experts that Nigeria may be at great risk if the virus knocks-out communities with millions of people living next to each other – places like Okokomaiko, Iyana Ipaja, Ajegunle, Mushin may trigger community transmission. And, without a doubt, it can rip through the population, unless something is done urgently to arrest the situation, for which there is no vaccine but prevention and isolation. 

While the government claims to keep COVID 19 transmission at stage 1 and 2 i.e. the stage where transmission is nominal, everyone affected can easily be contained, their sources traced, and less or no transmission with family, close friends, co-workers, etc., occurs. But how can we do contact tracing? Do we have an effective database system for Nigerians? Have we ever gotten our national census, right? Should we not talk about the National ID card from the National Identity Commission or leave for another day the data from BVN registration for banking transactions, INEC voter registration, International Passport from NIS, FRSC driver’s license and vehicle registration, SIM card registration by NCC to mention a few cases. Data is collected and stored everywhere, making it difficult to collect information across multiple government parastatal databases that house these data.

We have so much data yet we can’t do effective economic planning, make robust national budgets, control crime, provide social welfare/insurance systems, or even manage emergencies such as the COVID 19 situation. Every year our appropriation bills are usually a bunch of guesses that are unforgivable by data. Regrettably, in Nigerian, we are bulldogs at collecting data and toothless in putting them to use.  As of this time, we can’t boast of an updated and detailed central data management system that can account for the profile information of every citizen – from birth to death. The reason for this ambiguity is simple — every government agency and parastatals have their own IT structures with no common synchronization, the result will be inaccuracies in the records. 

Arguably, with the realities of politicking on the part of Federal and State governments, inefficient strategy and weak enforcement, Nigeria seems to be moving into the third stage of COVID 19 – community transmission. As at the time, of the first occurrence in Nigeria, the government was relatively proactive. Even basic information on the virus wasn’t clear especially in local languages, such that people who experienced similar symptoms associated with the epidemic – headache, coughing, fever, and/or living with co-morbidities, feared to have the virus. The position of the government in informing the public was puny, hence, allowing the proliferation of fake information on COVID 19 as observed in several WhatsApp or Facebook forums. 

Plenty Nigerians became doctors, herbalists I beg your pardon – they recommended for people to drink dry gin, take garlic with honey, drink hot water morning, afternoon and night as the virus cannot withstand high temperature. Although, there is no evidence that the temperature and the humidity of a place slow down the virus, as what the herbalist postulated in Africa. Amongst other challenges, is that Nigeria has a really weak surveillance system for reporting diseases, with no regard to diseases outbreaks. While the cities cannot be adequately covered, figures for rural communities will always be compromised. Do we have a credible record of deaths in Nigeria? While we can manipulate figures for urban areas, death rates are hardly reported for rural areas. Undeniably, lack of adequate monitoring and statistics records is a major challenge for Nigeria before now. 

Like every patriotic Nigerian, I am worried about the COVID 19 situation. Each day I am praying for this nation and hoping that the pandemic will be under control. As of yesterday April 19, we have 627 confirmed cases, 21 deaths, and 170 discharged persons. The NCDC claimed to have tested 7000 persons but this number is far below countries like India and South Africa. India has tested over 100,000 people and is setting 5000 tests per day. Similarly, South Africa has also tested 50,000 people to date. It is observed that the COVID-19 infection rate in Nigeria remains low relative to its population size. This may be because of the genetic composition or high immunity to the virus. Another valid point could be that many infected persons are yet to be tested. I wonder what it will be in the coming weeks. Looking at the number of new cases each day leaves me with no choice but to keep hope alive. But what hope exactly? Hope in a weak strategy or its implementation? 

While the government has promised to make food available for its citizens at this time, it is not clear how this food will get to the people. Despite the good plan, it is only logical to state that the execution can be challenging – including a million bottlenecks along the chain. I must commend the Lagos state government in their approach to contain the virus as well as alleviate the suffering of Lagosian. But what good is a plan if the execution is poor. You are only multiplying the problem. I have seen several media clips on how the sharing of relief materials has bridged the social distancing technique. Regrettably, this is chaired by government officials. Rules in Nigeria will always have exceptions. Why? As deadly as this virus is, we observed how social distancing and the NCDC procedures were flawed at the burial of Mr. Abba Kyari, Buhari’s Chief of Staff. He was such a good man. May his soul rest in peace. But as a matter of life and death, I don’t think we are taking COVID 19 as seriously as we ought to. I wish the government means business as it does on ink and paper, even if it is copied.

The reality today is that Nigeria’s strategy to contain COVID19 isn’t effective as expected because it focuses more on lockdown, contact tracing, testing, and isolation. This model will be as good as those it was copied from – the Europeans. These nations already have basic social issues solved before the outbreak. They can boast of a reliable database of its citizens, constant electricity, government social welfare, good and affordable health care, low poverty and unemployment rate, transparent government, etc. Hence, it is easy to implement a lockdown. Unfortunately, this is not our story. Our story is that we don’t have an effective data management system, no social welfare scheme, no good healthcare system, no social security system, inefficient telecommunication systems, unemployment and poverty rate are high, corrupt systems, and zero security for lives and properties. 

Copying an approach is not an issue. But if we do without factoring in our local realities it will amount to a waste of time and resources.  But nawa oh! Naija we smart pass like this naa.  Our reality is that less than 40% of Nigeria’s population is employed and two-third of the remaining depend on daily jobs to survive and to feed their families. Presenting a lockdown without social welfare package to citizens is like presenting two evils to choose from – to die of hunger or to be infected and killed by the virus. You don’t need to be told that an average Nigerian will choose survival, hence, making lockdown enforcement almost impossible. But is there a lockdown? Most videos I have seen and the places I have visited shows people going about their normal businesses. 

What do you expect? We are all looking for means to survive, hence, caring less what the government is saying. The government has done well by allowing markets and other essential services to run. Have you been to the market in recent times, you fear my brother! Zero social distancing, body contact is like one-to-one mapping. I missed my further math’s days in Festac Grammar School. What is the government saying again? You know Nigerians don’t believe the government anymore. Imposing a lockdown is good but of what good is it when people are moving around, the enforcement is weak. The NCDC is doing its best and testing has increased in April as compared to March but that’s not enough. Solving problems related to this pandemic is not all about medical science but has a lot to do with social issues, thus, it requires the expertise of social scientists too. 

I will suggest the government reviews its strategy immediately and come up with an effective strategy that considers the reality of the Nigerian people. This time, social scientists need to be involved to create effective social programs to help contain further spread in the coming weeks. For example, a sociologist can provide the best social distancing abi physical distancing plans for the kind people wey dey for Naija. While economists can advise the government on better economic policies to assuage the suffering of the masses especially the extended hunger revival which is now triggering other social problems including insecurity and theft. Don’t tell me you have not heard about the 1 million gangs; I won’t believe you if you don’t. Most households in Lagos have become responsible for their security – burning tyres in the streets and keeping vigil to scare criminals instead of waiting for the government. But the Police says there is no cause for alarm, all is well. I am not a social scientist but an Engineer of Epidemionics. I believe in allowing the specialist to do their job but certainly not a politician in this regard except if you are a pro in that area. I have heard that corporate individuals and institutions are donating money to the government to fight COVID 19. That is a good initiative but they should also look at other channels too that will impact the hungry masses.

Although the lockdown was rushed which possibly was the best at the time. Now, could there have been better planning of the lockdown? Definitely, why not. It is believed that given the densities of Nigeria, issues isolating visitors and citizens who returned from abroad trips should have been strictly implemented with exceptions. More so, instead of being only concerned about payment of salaries for the government, three months exemptions for Market Moni, Trader Moni, Farmer Moni, other soft loans for SMEs, etc., the government should have focused on how to support poor Nigerians.

Indeed, the lockdown decision was hasty to proper planning, but we can’t blame the government totally. There was limited information about the virus, but this is not the first time we are experiencing outbreaks. We have had cases of SARs and Ebola in the past, but didn’t have a long term strategy for managing disease outbreaks. Presumably, we should have learned from those experiences but we didn’t because of corruption. A good way to prevent or minimize future risks remains by setting the Diseases Outbreak Response Scheme (DORS). This scheme will provide a blueprint on how the government and private sector can monitor and manage future disease outbreaks in a more integrated collaborative manner. 

The unified DORS could have managed the situation better addressing issues with data management, social welfare, lockdown, high cost of living, business palliatives, public awareness and sensitization, the sit-at-home or work-from-home conundrums, panic buying, lack of ventilators, test-kits, and PPEs, misinformation and so forth. The DORS is a framework that has multi-level operating guidelines on what needs to be done to prevent and reduce the impact of disease outbreaks. Countries like Singapore and Germany, via their Ministry of Health or related agencies, have mapped detailed and well-documented procedures on disease outbreak managements that are peculiar to their origin and realities. 

As a result, it was easy for Singapore to be without a lockdown despite having a large number of infected cases until April 6, while maintaining a death rate below 11 since the outbreak. The city-state functioned exceedingly well without panic or breakdown of services. The DORS cannot be effective without a central data system. Creating a central system isn’t as easy as it sounds but we can break them into phases, first creating a single unified view of existing records where the cost of the data integration can be a public-private partnership initiative where businesses that require such data from national data center can pay for the cost of maintaining it rather than the government. Secondly, we can fix how we collect data by evolving the process of a single database to create new records that can be updated in the future. Several tools can be used, but this article is not meant for such technical details today. 

Albert Einstein said, “we cannot solve our problems with the same thinking we used when we created them”. There is so much to be said but the government should look beyond paperwork, politics, ethnicity, religion, and do what is in the best interest of the State. Coronavirus doesn’t understand any of these nor does it know the difference between the rich and the poor. If we are to flatten the curve from the sudden increase of infected persons an immediate review is inevitable. Just like King Solomon said, “Don’t boast about tomorrow since you don’t know what the day will bring”, but if you plan well you can predict the future.

For once, make we use our brains for this country.