The Federal Government has proposed half-a-trillion naira as intervention fund against COVID-19.
The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, made the disclosure when she met with the leadership of the National Assembly in Abuja on Saturday.
The meeting was a follow-up to the one held last Wednesday between the National Assembly leadership, and members of the Presidential Committee set up for the management of the COVID-19 crisis.
While presenting the request Ahmed said: “What we are proposing is an establishment of a N500b COVID-19 Crisis Intervention Fund. This Fund that we are proposing, that should be created, will involve mopping up resources from various special accounts that the government, as well as the Federation have, to be able to pull this N500b.”
The finance minister further said that in addition to the identified special accounts from where the money would be drawn as loans, the proposed intervention fund is also expected to be sourced from grants being expected and loans from multilateral institutions.
“Our general view is that this Crisis Intervention Fund is to be utilised to upgrade healthcare facilities as earlier identified. The Federal Government also needs to be in a position to improve healthcare facilities not only in the states, but to provide intervention to the states,” Mrs. Ahmed said.
She added: “We know that there will be a need for the parliament to agree and approve the taking of loans from these special accounts and we will be coming back with a proposed bill in that regard that will define what the fund will be used for.”
Meanwhile the Peoples Democratic Party has tasked on the NASS to scrutinise the overall profile of the N500 billion proposed by the FG.
In a statement issued by its National Publicity Secretary, Mr Kola Ologbondiyan, on Saturday in Abuja, said the call was important to ensure that the fund reached the desired targets.
Ologbondiyan urged the legislature to examine the expenditure layout and put adequate clauses to eliminate diversion.
“The PDP insists that such information should also include details of what each state of the federation gets; the parameters for allocations, the monitoring system and foolproof measures to block all loopholes and check fraud.
“The Federal Government needs to place these details before the National Assembly.
“This money, which is to be mopped up from various special government accounts, belongs to Nigerians.
“As such, the National Assembly must ensure that it is fully utilised for their well-being.”
The Nigeria Centre for Disease Control on Saturday confirmed the country’s 214th positive case.
To upgrade health care facilities…wonderful! But there should be accountability b4 the money disappears into tin air without any physical evidence. We should not that all of the conspiracy alarmist have lootng as one of the big games of Covid19 aftermath.