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