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N6.5 Billion for Covid-19

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The finance minister, Zainab Ahmed announced that the federal government will release N6.5 billion to the National Centre for Disease Control (NCDC) .

“The fund is an intervention to assist the fight against the spread of COVID-19 in Nigeria,” she said .

She revealed this during a meeting with the leadership of the National Assembly in Abuja on Wednesday.

Ahmed, the Governor of the Central Bank of Nigeria and other executive officials met with the lawmakers to discuss the planned budget review as well as the effect of the pandemic and recent oil price crash on the nation’s economy.

The meeting was held about a week after the Senate resolved that the review of the 2020 budget was inevitable.

The resolution was sequel to the receipt and deliberation of the interim report of the Senate joint committee on finance, appropriations, national planning and petroleum resources (upstream).

During her presentation, the minister said the federal government had made provisions for health sector interventions by introducing import duty waivers for essential input for pharmaceutical firms; tax waivers on new equipment; and deferment of tax to increase production.

She disclosed that the federal government would be releasing N6.5 billion in two tranches (N1.5 billion and N5 billion) to the NCDC as intervention to assist in the fight against the spread of the COVID-19 disease in Nigeria.

The minister also made known that the Lagos State Government would receive financial support from the federal government to the tune of N10 billion to combat Coronavirus spread in the state.

Nigeria had received a grant of $18.2 million from Japan for strengthening seven NCDC centers across the country and N1 billion would be released by the government to pharmaceutical firms in the country, she added.