The APC Legacy Awareness and Campaign group has lauded President Muhammadu Buhari’s multi-pronged economic interventions during the COVID-19 pandemic.
The group said Nigeria’s economy has bounced back and is also growing as a result of the interventions.
The APC Legacy group made this known in a press statement signed by its leaders; the APC National Youths Leader, Ismael Ahmed, Director General of the Progressive Governors Forum (PGF) Salihu Lukman, a former APC National Publicity Secretary Mr Lanre Issa-Onilu and a Presidential media aide Tolu Ogunlesi.
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CBN stimulus support
The APC group added that some of the interventions funds which have helped the economy include approval of a Central Bank of Nigeria stimulus support of about 400 billion Naira of which over 600,000 Nigerians have benefitted and also the reduction in CBN interests rated from 9% to 5% per annum from March 1, 2020, to February 28, 2022.
“Approving the take-off of the 75 billion Naira National Youth Investment Fund (NYIF) which is funding youth-led businesses, as well as the Jubilee Fellows Programme which will place 20,000 University graduates in work-preparation/career-development internships annually.
“Approving the launch of an Export Expansion Facility Programme, designed to provide a financial lifeline to export businesses.
“Approving the release of special intervention grants of 10 billion Naira and 5 billion Naira to the Lagos State Government (Lagos being the pandemic epicentre) and the Nigeria Center for Disease Control (NCDC) respectively.
“Approving a repayment moratorium for all Social Investment Programme microcredit loans (TraderMoni, MarketMoni and FarmerMoni), and all Federal Government-funded loans issued by the Bank of Industry, Bank of Agriculture and the Nigeria Export-Import Bank.
“Approving the expansion of the National Social Register (official database for implementation of the Conditional Cash Transfer programme) by 1 million additional households, and of the N-Power youth jobs scheme,” the APC Legacy Campaign group said.
Health Sector
In the area of health to protect lives, the APC group said the government approved funds to improve health infrastructure and create policies to reform the health sector.
“Approving the establishment of a 500 billion Naira COVID-19 Crisis Intervention Fund, dedicated to various programs ranging from health infrastructure upgrades to a national public works programme. Health infrastructure successes seen so far include the (ongoing) construction of Oxygen Production facilities in every State of the country, as well as the construction of Infectious Disease Centers.
“The President has just set up a committee to comprehensively reform the health sector, to build on the efforts already introduced by the administration in the recent past, including the operationalisation of the Basic Healthcare Provision Fund (BHCPF)” the group said.
The APC group also pointed out the various Committees set up by the President such as the Presidential Task Force on COVID-19, the Economic Sustainability Committee amongst others have also been set up and are working to fulfil their duties.
Zainab Sa’id
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