₦airaland Forum

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 N 500 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 N 500billion.
“ 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 N 20, 000 per person might not be the best way to go . It is still an effort , but I think we need a better approach that will be more efficient . ”

source: https://punchng.com/coronavirus-fg-seeks-nass-approval-for-n500bn-intervention-fund/

What about the donated money

Oh sorry it been shared among the poorest

H

Abracadabra!!!

nonsense

We all saw it coming afterall, this is Nigeria .
I hope the 500bn is for the whole West Africa and not earmarked for Nigeria alone ..
Mark my words, some people are about to become billionaires for life all thanks to Covid Covik 1-9 . Opportunistic looters !

yahoo men and women full for buharis government ooo.
is a pity that some sees this as an opportunity to loot and reloot biafran hard earn resources.
posterity must not be kind to these yahoo men and women

So there is nothing in the law that allows the President to bypass seeking approval, abi can't this be tagged a biological warfare.

No government for this world sharp reach naija government. I'm in awe. You've got to applaud the ingenuity.

Only them go plan, approve, execute, recruit, recoup and reloot.

Naija I jail thee

Like the One billion dollars to fight Boko Haram.

So what about the billions donated by Philanthropists to Covid 19 fight ?

These people won't seize to amaze.

Kcitytv:
What about the donated money

Oh sorry it been shared among the poorest

They said those donated funds are private not in fg coffer. May be one of our leaders have decided to change his name to covid19 hence all donations goes to his account Yeye people

princemillla:
They said those donated funds are private not in fg coffer. May be one of our leaders have decided to change his name to covid19 hence all donations goes to his account Yeye people

hajajajahana
So people will be

....