This much was disclosed at the first National Economic Council (NEC) meeting of the year presided over by Vice President Yemi Osinbajo on Thursday, January 21, 2021.
State governors, federal capital territory minister, Central Bank Governor and other senior government officials attended this meeting.
Briefing NEC on the release of the funds, the Minister of Finance, Budget and National Planning, Zainab Ahmed said the president approved the release of the funds for the production of oxygen due to the surge in COVID-19 infections in the country.
Health Minister Osagie Ehanire informed the council that sequel to President Buhari’s decision to activate the Basic Healthcare Provision Fund based on the National Health Act, N55.1billion was approved in 2018 and that 50% of the sum has since been released to the states and the FCT.
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