The Federal Government says it has so far spent N502.3 billion as Covid-19 intervention fund.
Minister of Finance, Budget and National Planning, Hajiya Zainab Ahmed, made this known yesterday at the proposed national dialogue on Covid-19 economic impact and assessment of national and states’ recovery plan and policy options in Abuja.
This was as the Nigeria Centre for Disease Control announced 610 new cases of coronavirus and two deaths.
It said the new infections was recorded in 12 states and the Federal Capital Territory.
Zainab Ahmed said Nigeria was hard hit by the global health crisis which caused a fall in crude oil prices.
The minister said: “You know that in the 2020 budget, N500 billion was appropriated and it was fully funded, but apart from that we also have the economic sustainability plan that is totalling N2.3 billion which is in the form of intervention funds from the CBN, which means loans are given to the private sector and they pay back later.”
Hajiya Ahmed said the pandemic had made it imperative for the government to fix its health sector.
She said the health crisis resulted in the President Muhammadu Buhari-led administration taking proactive and people-oriented policies with emphasis on human capital development and critical infrastructure.
“The pandemic has required that we take a critical look at our health and economic policies, to swiftly introduce crisis management measures, catalyze support to the health sector, and accelerate certain key reforms while reimagining others entirely.
“Several fiscal measures were put in place to balance health and economic issues in addressing the burden of COVID-19 on Macro, Small and Medium Enterprises (MSMEs), as part of the integrated policy framework which ensures coherence in fiscal, economy and health positions,” Hajiya Ahmed said.
The minister listed the key interventions to include; the establishment of a N500 billion COVID-19 crisis intervention fund to finance the upgrade and improvement of healthcare facilities; creation of a Special Public Works Programme to employ 774,000 people, among several others.
