FG spends N2.3trn to cushion effect of COVID-19 ― Minister


Minister of State, Finance Budget and National Planning, Mr Clement Agba.

The Minister of State, Budget and National Planning, Mr Clem Agba, said the federal government had spent N2.3 trillion as stimulus package to cushion the effect of the COVID-19 pandemic in the country.

Agba said this at a three-day 4th National Treasury Workshop organised by the Office of the Accountant General of the Federation in Uyo on Tuesday.

The theme of the workshop is, “COVID-19 and the Global Economy: Implications on Nigeria’s National Treasury.”

“In spite of the impact of COVID-19 and dwindling revenue from oil, our strategy was to expand government’s activities to cushion the effect of the pandemic with the total estimated stimulus package by the Federal Government of N2.3 trillion.

“These packages consisted, to a large extent, of a combination of fiscal and monetary policies, sectoral interventions, and social programmes.

“The fiscal and monetary policies were…

Source: Vanguard Newspaper