COVID-19 stimulus package: FG set to spend another N128bn or more

COVID-19 stimulus package
Dr Andrew Kwasari, Senior Special Assistant (SSA), to the  President on Agriculture

News Agency of Nigeria reported that about 2.4 million households, who are small scale farmers with farmlands ranging from one to five hectares across the 36 states of Nigeria and the FCT, will get the Federal Government COVID-19 stimulus package.

This claim was made by Dr Andrew Kwasari, Senior Special Assistant (SSA), to the President on Agriculture to mitigate the effects of COVID-19 pandemic on Nigerians and the economy.

According to Kwasari, the COVID-19 stimulus package will be provided through the Agric for Food and Jobs Plan (AFJP), under the Agricultural Sector of the Nigerian Economic Sustainability Plan (NESP). He added, “The Economic Sustainability Committee needed to be very strategic in utilising the minimal resources, overall, not only for the agriculture sector.

So, for the agric sector, we decided that we would use this strategy to utilise available cash to work with financial institutions, led by the Central Bank of Nigeria (CBN), to see how we can get stimulus packages to about a minimum of 2.4 million households or to fund 2.4 million hectares of land that will be cultivated during this  2020 wet and dry season farming.

To say the least that if 2,400,000 households are to get N5,000 each. Mathematically, Government will be spending nothing less than N128 billion on the just-announced scheme. With no modus operandi of disbursement, the Federal Government are expecting returns from the agrarian households that it invests upon.

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