The Federal Government has said it has channelled N502.3 billion in form of interventions to combat the impact of COVID-19 on the nation.
The pandemic, which broke out in the first quarter of 2020, led to outright paralysis in the global economy with businesses shutting down and restrictions in movement of people within and across the globe.
Reviewing funding commitment it cost government in the wake of the pandemic, Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, said that government continued to make critical investments in key sectors including agriculture, infrastructure, health, and education to provide jobs for millions of unemployed youths as well as supporting the Small and Medium Enterprises (SMEs).
Ahmed disclosed this at the proposed national dialogue on COVID-19 economic impact and assessment of national and state recovery plan and policy options, which was held Tuesday in Abuja.
According to her, Nigeria was hard hit by the global health crisis, which caused a fall in crude oil prices.
“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 that is totalling N2.3 billion that is in the form of intervention funds from the CBN, which means loans are given to the private sector and they pay back later,” she said.