The Minister of Finance and Coordinating Minister of the Economy, Wale Edun stated that the Federal Executive Council of Nigeria (FEC), has approved a total of $1.070bn for health sector and N20bn for customs.
According to Edun, the projects approved under the Human Capital Opportunities for Prosperity and Equity (HOPE) agenda, was aimed at enhancing the governance around the healthcare sector and also for the procurement of Compressed Natural Gas (CNG) vehicles and other facility amenities.
He disclosed this while briefing the state house correspondents after the FEC meeting on Monday 3rd of February 2025.
He said:
“I did present a couple of memos to the Federal Executive Council, and even though we do have another Federal Executive Council meeting coming up tomorrow, in interest of timely and full disclosure of activities of government and timely release of information thereon.
“We have the Honourable Minister for Health and coordinating Minister for Social Welfare who it really concerns, except that it was World Bank Financing, IDA, International Development Association financing which is the concessional arm of the world bank. They gave out grants and they give out virtually next to Zero interest money, 1% funding for a long period of 40 years.
“And under the Human Capital Opportunities for Prosperity and Equity program of the World Bank of the IDA, two projects were approved for financing. The total amount, and one is for governance to improve the governance around the healthcare, primary healthcare in particular and the other one refers to improving the governance around the quality of service including the utilisation of essential services also in the health system.
“So apart from the two loans of five concessional loans of 500 million dollars each, there’s also 70 million dollars in grant financing from other international bodies. So it’s a total of 1 billion and 70 million dollars in grant funding for the health sector.
“In addition the customs came with some 20 billion Naira worth of important projects and procurements, CNG vehicles and some constructions and furnishing of facilities particularly the forward basis in some remote areas.” [CONTINUE READING HERE]>>>>
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