COVID-19: Kogi approves N1.6bn economic recovery fund

The Kogi State Executive Council on Wednesday approved a set aside fund of 1.56billion naira under the Kogi Care Initiative planned towards economic recovery and stimulus.

The SEC noted that this was in a bid to cushion the effect of the post Covid-19 pandemic in the state.

Speaking with newsmen after the SEC meeting, Commissioner for Finance and Budget Planning, Asiwaju Idris Ashiru mentioned that the fund would be shared into 520 million naira to cover three major areas.

The State Commissioner highlighted these area to include assistance to the Vulnerable covering the elderly, less privilege and the poor, while fund was also set aside for farmers and as well as Small business owners in the state.

He noted that these areas have been seriously affected by the socio economic impact caused by the Covid-19 pandemic hence the state government made fund available to enable swift recovery from these effects.

The Commissioner noted that the program which is World Bank supported when implemented would reverberate the economy and as well ensure food security.

Read also: COVID-19: PDP decries Gov Bello’s handling of pandemic, says ‘silent deaths’ in Kogi scary

Hon. Ashiru added that the statistics of beneficiaries varied based on the result areas but estimated that over 20,000 households under the vulnerable result area would benefit from the program.

The Commissioner asserted that in identifying the vulnerable the state government would rely on its Social register supported by the recent document made available by the Federal Government.

He also affirmed that the Government in partnership with the Bank of Industry (BOI) after its meetings would set up modalities for selecting the beneficiaries under the SMEs result area as the funds would be given out as loans and grants.

The Commissioner for Information and Communication, Mr. Kingsley Fanwo while also addressing the press mentioned that the State Government remained committed to strengthening the welfare of the people and their capacity to cater for their family members.

Mr. Fanwo also urged the people to remain committed to supporting security agencies with needed information that would help the fight against crimes and criminality in the state.

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