FG to spend N396bn on COVID-19 vaccination – Finance Minister

The Federal Government is proposing to spend the sum of N396 billion for the COVID-19 vaccination in 2021 and 2022.

The Minister of Budget and National Planning, Zainab Ahmed disclosed this on Wednesday after the weekly Federal Executive Council meeting, which was presided over by Vice President Yemi Osinbajo.

Ahmed explained that the figure may significantly reduce as the Federal Government receives more donations of the vaccines from the private sector.

She added that the Ministry of Health is working on details of the gap that the Federal Government will be required to fill in the vaccination exercise.

She also explained that the size of the proposed supplementary budget agreed by the executive and legislative arm is yet to be resolved, because the Ministry of Defence and Health, are yet to provide details of the military hardware requirement.

Ahmed had earlier in February said a supplementary budget will be needed to cover the cost of COVID-19 vaccinations, for which no provision was made in the 2021 finance bill adopted in December.

The Federal Government has said it plans to inoculate 40% of Nigeria’s population this year and another 30% in 2022.

“There will be a supplementary budget, the first one will be in March relating to the Covid-19 pandemic,” Ahmed told reporters.