The Honourable Minister of Finance, Budget & National Planning, on Monday, 6 April 2020 announced that the President, Muhammadu Buhari approved a Fiscal Stimulus Package, as part of intervention efforts to manage the adverse impact of the COVID-19 pandemic on the economy. The Fiscal Stimulus Package seeks to establish a N500 Billion COVID-19 Intervention Fund which will be used to upgrade healthcare facilities earlier identified by the Presidential Task Force on COVID-19 and approved by the President, amongst other things; Enhance financial support to the states for critical healthcare expenditure; Augment the States’ FAAC allocations and moratorium on States’ debts; Enhance reliefs for supply of adequate essential food items and medical supplies; and Amend the 2020 Appropriation Act.
The Fiscal Stimulus Package will ensure that Nigeria’s healthcare system, fiscal position and economy are sufficiently supported to weather the shocks of the COVID-19 pandemic.
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