COVID 19: FG, Dangote, Others Raise N500 Bn

 

By Fola James

A whopping N500 billion intervention fund  will be needed to manage the Corona virus pandemic, the federal government has said.

“What we are looking at is a N500 bn intervention fund,” Zainab Ahmed, Minister of Finance, Budget and National Planning told NASS leadership few hours ago.

The request came on the crest of calls by Nigerians to the federal goverment to make sure that funds allocated to COVID 19 is not mismanaged.

The figure excludes donations from individuals and corporate organisations.

African richest man, Aliko Dangote, Femi Otedola, Mike Adenuga have made large donations to assist the federal government to fight the novel disease that has already killed three Nigerians.

Many corporate bodies such as banks and others have formed partnership with the government to stop the deadly disease from spreading.

Over 200 Nigerians have also tested positive to virus now known as COVIDC 19.

But during a meeting by the Minister with some principal officers of the two chambers of the National Assembly on Friday, the FG said a dedicated funds is required to manage the emergency.

Ahmed, a member of the presidential committeee on COVID 19 had sought the NASS understanding to expressly approve the N500bn request.

Recall that the House of Representatives has shown its readiness to pass a bill to grant electricity consumers a two month waiver as a palliative measure following the economic hardship induced by the pandemic

The Finance Minister met with Senate President Ahmad Lawan, House of Representatives Speaker Femi Gbajabiamila, Deputy Senate President Ovie Omo-Agege, House of Reps Deputy Speaker Idris Wase among other principal officers of the NASS on the issue.

“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 N500 billion.”

Ahmed said the proposed fund need to be sourced from many sources which will require NASS approval.

Apart from COVID 19, the minister said part of the fund will be used to provide medical facilities in government hospitals across the country.

She said: “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 health care facilities not only in the states but to provide intervention to the states.”

The proposed fund is expected   also to  take care of special Public Work Programmes being undertaken  by the National Directorate of Employment (NDE).

The federal government is seeking NASS understanding on the issue the minister said.

Ahmed “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.”

The Senate President, while responding, assured the minister that all had will be on deck to combat the CIVID 19 emergency.

“Governance requires that we work together, so we want to listen to those things that you have on your side and how we can also play our constitutional role in ensuring that Nigerians continue to benefit from governance and how we are able to weather the storm created by COVID-19,” Lawan said

Adding that “Going forward, we need to interact more because very fundamental decisions will need be taken, and these decisions can only be said to be constitutionally legal if the legislature gives its stamp of authority for the executive to implement and execute.”