Coronavirus: FG seeks NASS approval for N500bn intervention fund

By AdvocateNews on 05/04/2020

Share on facebook Yahoo mail icon Gmail icon

Views: 1,101


The Federal Government through the Ministry of Finance on Saturday reached out to the National Assembly to intimate it with an Executive Proposal to establish a N500 billion COVID-19 Crisis Intervention Fund.

The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, led the Federal Government’s team and met with the Senate President, Ahmad Lawan, and Speaker of the House of Representatives, Femi Gbajabiamila, to work out the modalities.

According to a release from the Office of the Senate President, the finance minister along with senior officials from the ministry held the meeting at the National Assembly.

The meeting was also attended by the Deputy Senate President, Ovie Omo-Agege; Deputy Speaker, Idris Wase, and some other principal officers from both chambers.

The meeting was a follow-up to one held last week Wednesday between the National Assembly leadership and members of the Presidential Committee which was set up for the management of the COVID-19 crisis.

The finance minister said, “What we are proposing is an establishment of a N500 billion 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 N500billion.

“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.

“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 minister 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.

She told the lawmakers that the Fund, if approved, would take care of special Public Work Programmes currently being implemented by the National Directorate of Employment.

In his remarks, the Senate President said the meeting was in fulfilment of an earlier promise to provide support as the need arises in this time of crisis.

Lawan said, “Just like we told Nigerians when there is need for us to meet or to take legislative action in support of ensuring that the government responds appropriately to developments issues and challenges in the country, we will do so.

“I think coming to us for those loans is critical because we are in an emergency and time is of the essence. So, we must work as expeditiously as possible to ensure that we place the request before the National Assembly.

“I think the time has come for us to redefine the implementation of the Social Intervention Programme, probably going out to communities to give them N20,000 per person might not be the best."

Posted 05/04/2020 11:06:52 AM

 

Share on facebook Yahoo mail icon Gmail icon


 

You may also like...
Enugu Airport: Why Easter deadline no longer realistic,...

FG lauds FRSC management for judicious use of...

Compulsory one year internship programme for fresh graduate...

Court declines to sack Gov Uzodinma, Deputy

Benue buries 26 as herdsmen kill 25 in...

Police rescue 55 year-old man chained for 30...

SEMA issues flood alert to 10 LGAs in...

Lagos Commissioner for Health, Abayomi, tests positive for...

SEEDS OF DESTINY JAN 19, 2021: INFORMATION –...

Six killed as gunmen storm Eke-Nkpor/Obosi axis of...

Kogi Security Trust Fund Chairman in sudden death...

US deports 34 Nigerians

 

Latest News Ex-Enugu Commissioner for Lands, Surv. Nnam, regains freedom Some judges sell judgments, retire to escape NJC sanctions – Jega Delayed November Salary: Policemen complain of hunger, poverty Umahi confirms killing of five abducted construction workers in Ebonyi Northerners Forum salutes Soludo, solicits key role, assignment in his administration Mkpurummiri addiction has no cure – NDLEA warns Buhari suspends AEDC management as firm faces internal crisis Man commits suicide after losing company’s N150,000 on bet 30 burnt to death as bandits set bus ablaze in Sokoto Students strip policeman, set school ablaze, principal flees Security agents, not ESN, planting bombs in Igboland – IPOB Fani-Kayode has erectile dysfunction, I had four kids via artificial insemination – Ex-wife claims

 

Most Read Ugwuanyi commends FG’s siting of ICT University in Enugu (229,524 views) Sickle cell support group seeks government intervention (229,524 views) Ebonyi bans embalming of corpses in homes (229,524 views) Full Text of Governor Ifeanyi Ugwuanyi’s 2016 Budget Speech (229,523 views) FG sends new directive to banks, schools as Buhari extends lockdown by four weeks (229,523 views) Ex-Heads of State will protect Jonathan from persecution —Kukah (229,521 views) I’ve no Coronavirus, govt wants to kill me – Anambra Index case (229,520 views) Fleeing ex-DG Imo Broadcasting Corporation who stabbed wife to death arrested (229,520 views) HUSHPUPPI: CRIMINALS HAVE NO TRIBE. THEY SHAME ALL OF US... (222,826 views) ASUU strike: Senate intervention ends in deadlock (222,652 views) All you need to know about Peter Obi, PDP VP Candidate (172,998 views) DEMOCRACY DAY: President Muhammadu Buhari’s full speech (171,312 views)

 

 

SECTIONS FAITH (158) EDITORIAL (19) NEWS (7,431) POLITICS (496) SOCIETY (132) SPORTS (58) BUSINESS (370) HEALTH (59) EDUCATION (50) ENTERTAINMENT (55) INTERNATIONAL (183) TECHNOLOGY (6) COLUMNISTS (57) LETTERS (4) OPINION (42)

 

 


There are no video entries posted yet.