COVID-19: ”N502.3bn has Been Spent So Far To Stabilize The Economy”- Finance Minister

FG Has Spent N502.3bn To Stabilize The Economy

Zainab Ahmed, The Minister of Finance, Budget, and National Planning has stated that the Federal Government has spent N502.3bn to stabilize the economy since the outbreak of coronavirus.

Zainab made this disclosure at the national dialogue on COVID-19 economic impact and assessment of national and states’ recovery plans and policy options in Abuja on Tuesday, August 10. 

She said;

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“You know that in the 2020 budget, N500 billion was appropriated and it was fully funded. But apart from that, we also have the economic sustainability plan totaling N2.3 billion in the form of intervention funds from the CBN, which means loans are given to the private sector and they pay back later.”

Mrs. Ahmed, however, disclosed that lessons were learned from the pandemic, especially the urgent need to fix the challenges of the health sector. 

According to her, the various challenges plaguing the health sector propelled the incumbent to pursue proactive and people-oriented policies with an emphasis on human capital development and providing critical infrastructure for the well-being of Nigerians.

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