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We Spent Almost N4 Trillion On COVID-19 Palliatives – Emefiele

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We Spent Almost N4 Trillion On COVID-19 Palliatives – CBN

The Governor of the Central Bank of Nigeria (CBN) Godwin Emefiele disclosed on Friday N3.5 trillion has been spent to cushion the effect of COVID-19 pandemic on the country’s economy.

According to Mr Emefiele, the said amount was largely spent in the areas of manufacturing, agriculture, electricity and gas, solar power and housing constructions.

“Real sector funds, (N216.87 billion); COVID-19 Targeted Credit Facility (TCF), (N73.69 billion); AGSMEIS, (N54.66 billion); Pharmaceutical and Health Care Support Fund, (N44.47 billion); and Creative Industry Financing Initiative (N2.93 billion).

The governor said that the CBN also set to contribute over N1.8 trillion of the total sum of N2.30 trillion needed for the federal government’s one-year economic sustainability plan (ESP).

Source: NAN

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