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Coronavirus: FG seeks National Assembly approval for N500bn Intervention Fund

COVID-19: FG seeks National Assembly approval for N500bn Intervention Fund

In a bid to conquer the Coronavirus pandemic in the country, the
Federal government has approached the leadership of the National
Assembly for approval for the establishment of a N500 billion COVID-19
Crisis Intervention Fund.

The Minister of Finance, Ahmed Zainab, met with the lawmakers today
April 4th at the National Assembly complex. At the meeting, Ahmed said
the proposed fund would be dedicated to upgrading of existing health
facilities in states across the federation. She added that the fund if
approved by the lawmakers, would also be deployed to take care of
special Public Work Programmes currently being implemented by the
National Directorate of Employment(NDE).

“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 N500 billion. Our general view is that this crisis
intervention fund is to be utilised to upgrade healthcare facilities as
earlier identified” she said

On how the fund would be pooled, the Minister said the fund would be
drawn from various special accounts, grants being expected and loans
from multilateral institutions.

President of the Senate, Ahmed Lawan, appreciated the Federal
government for the palliatives being handed to Nigerians following the
Coronavirus outbreak but called for more interventions asides doling of
cash.

“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 way to go. It is
still an effort, but I think we need a better approach that will be more
efficient. 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” he said

Earlier in his opening remarks, the President of the Senate said the
meeting, the second time since President Buhari made the pronouncement
on lockdown to combat the deadly scourge, was necessary to fast track
the process of legislative approval for the Executive request.

“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. This meeting, the second in the series after we
shut down the National Assembly for two weeks, is a clear testimony of
what we have said. 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. Going forward, we need to interact more because
very fundamental decisions will need to 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.

“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.” Lawan said

In attendance at the meeting were Speaker of the House of
Representatives, Honourable Femi Gbajabiamila, the Deputy Senate
President, Senator Ovie Omo-Agege, Deputy Speaker, Honourable Idris Wase
and some other principal officers from both Chambers

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