COVID-19: Buhari's government approves N2.3T

More funds have been approved by the Buhari administration as the fight to end covid-19 in the country, continues.

The Minister of Finance, Budget and National Planning, Zainab Ahmed, disclosed on Wednesday in Abuja, that the sum of N2.3trillion, has been approved by the Federal Executive Council, FEC, as COVID-19 stimulus plan.


The approval came on the recommendation of the Vice President Prof. Yemi Osinbajo-led Economic Sustainability Committee.

According to Ahmed, the decision was reached at a virtual meeting of the FEC presided over by President Muhammadu Buhari.

“We also have N1.2 trillion of these funds to be sourced as structured low-cost loans which are intervention from the Central Bank of Nigeria as well as other development partners and institutions,” she said.

She said there is also N344 billion that will be sourced from bilateral and external sources and also additional funds that they plan to source locally.



“There is a strategy that has been adopted and this whole plan is to enable us to respond to the triple problem of the low exchange rate, youth unemployment as well as negative growth which is facing us now,” she noted.