How We’ve Spent N500bn COVID-19 Fund, FG Gives Nigerians Breakdown
- A breakdown of expenditure of COVID-19 fund by the federal government has been released
- The minister of state for finance, budget, and national planning, Prince Clem Agba, disclosed that the total sum released by the government was N500bn
- Agba said from the fund, the sum of 126 billion was slated for the revival of Nigeria's healthcare system
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To prove its transparency, the federal government has given a detailed breakdown of how funds allocated for COVID-19 and its management in Nigeria have been used so far.
The explanation was given on Thursday, April 22, by the minister of state for finance, budget, and national planning, Prince Clem Agba, The Nation reports.
Source: Twitter
At a conference of the COVID-19 Transparency and Accountability Project (CTAP), Agba said the sum of N500bn was disbursed from the special federal government account.
Agba explained that from the said fund, 126 billion was set apart for the revival of the nation's healthcare system. According to him, 52 federal medical centres and teaching hospitals have been built across Nigeria from that sum.
According to the minister's report, 50% of the N500 billion was released to various agencies to help states in their response to the pandemic.
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He added that except for Lagos which got N10 billion and Kano that got N5 billion, all other states received a grant of 1 billion each for the same purpose, Vanguard also reported.
The minister went on:
“Most of the MDAs received at least 50 per cent of the budget for projects, like Ministry of Agriculture which has N34 billion as budget for rural roads was given 50 per cent of that amount and they were also given 50 per cent of the amount for land preparation, which is N1.25 billion.
“The mass rural electrification and solar power strategy had N6.2 billion released to them FERMA received 30 billion for bridges and major roads, Ministry of Trade and Investment got N75 billion MSME programmes, while federal medical centres with about N49 billion budget received 50 per cent of that amount allocated.’’
More still, Agba said the government procured more than N12 billion mass rural electrification and solar power and N60 billion for road construction and rehabilitation.
Meanwhile, the government had taken stock of its initiatives aimed at cushioning the effects of the COVID-19 pandemic on Nigerians and businesses.
A statement sent to Legit.ng by Laolu Akande, the spokesman of Vice President Yemi Osinbajo indicated that ministers and heads of agencies were reporting further progress in the implementation of the Economic Sustainability Plan (ESP) of the Buhari Administration.
Source: Legit.ng
