Inside Nigeria

COVID-19: FG Releases N10bn to Lagos, N1bn to Pharmaceutical Companies

In a bold move to combat COVID-19 scourge, the Federal Government says it will release N10 billion to the Lagos State Government and another N1 billion grant to some pharmaceutical companies in the country.

The Senate President, Dr Ahmad Lawan and the Speaker of the House of Representatives, Mr Femi Gbajabiamila, said the interventions were part of government’s package to assist Lagos State and the companies in the fight against the pandemic.

The lawmakers had led principal officers of both chambers of the National Assembly to a meeting with ministers and heads of Ministries, Department and Agencies (MDAs) in Abuja. All attendees were compliant with the World Health Organization’s preventive guidelines, using coronavirus kits and observing the social distancing.

  During the four-hour long meeting, a review of the 2020 budget and Medium Term Expenditure Framework and Fiscal Strategy Paper passed late last year by the National Assembly was discussed.

 Lawan, in his opening remarks, said the interaction was necessary following the spiral effect of the global coronavirus on the nation’s economy. “Here, we will be talking of revenues that we estimated to fund the budget 2020.

“The impact of COVID-19 is well known to all of us in terms of health and the economy. Because the oil price has gone so low due to the impact of COVID-19, the Minister of State should be able to tell us where we will be in the next six months or so,’’ he said.

 Stressing that as a nation we should have concepts that can deliver fast and are sustainable, the Senate President said: “Anything that we do that cannot provide succour and relief to our people will lead to catastrophe.

 

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