By Precise Post staff
Abuja (Precise Post) – President Muhammadu Buhari has initiated move to seek the approval of the National Assembly to establish a N500 billion COVID-19 Crisis Intervention Fund.
The Minister of Finance, Budget and National Planning, Zainab Ahmed with senior officials of her ministry met with the leadership of the National Assembly on Saturday to work out modalities for the Presidential request to fight the deadly Coronavirus.
The meeting was in continuation of earlier discussions between the two sides since last week for the management of the COVID-19 crisis.
“What we are proposing is an establisment of a N500 billion COVID-19 Crisis Intervention Fund,” the minister said.
She said the proposed fund will require the FG to ramp up N500 billion from various special accounts as loans.
The Minister added that the proposed intervention fund will be sourced from grants and loans from multilateral Institutions.
She explained to the lawmakers that the Fund, if approved, will also take care of special Public Work Programmes currently being implemented by the National Directorate of Employment(NDE).
Earlier 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.
