The Vice President, Professor Yemi Osinbajo (SAN), has described
the outbreak of the Novel Coronavirus (COVID-19) Pandemic as an
opportunity for Nigeria to reset its socio-economic structures.
Prof. Osinbajo stated this on Thursday, at a virtual launch of
the Nigeria Solidarity Support Fund, NSSF, an initiative of the
Nigeria Sovereign Investment Authority (NSIA), the Global Citizen,
and other partners. The Vice President joined the event from his
office.
The NSSF was designed to provide additional support for
Nigeria’s response to the COVID-19 pandemic and enable Nigerians
resident at home or in the diaspora as well as international donors
to come together and directly contribute to Nigeria’s fight against
the pandemic.
Speaking on the fallouts of the COVID-19 pandemic on the
Nigerian economy, the Vice President said the establishment of the
Nigeria Solidarity Support Fund would support “the creation of a
stronger, more resilient, more inclusive political economy and
healthcare system.”
According to a statement issued by the Senior Special Assistant
to the President on Media and Publicity, Vice President’s Office,
Mr Laolu Akande, the Vice President said “this is a creative,
forward-looking and thoughtful response to what is perhaps the most
profound global and domestic challenge to health and the economy in
human history.
“We need not belabour the point that the COVID-19 challenge is
also an unprecedented opportunity for us as a nation and people to
reset in critical sectors of the economy and social services.”
Emphasizing the point about resetting Nigeria’s systems, Prof.
Osinbajo said “…the deep plunge in oil earnings, the disruptions to
business and commerce on account of lockdowns, have meant that we
must develop a comprehensive economic response.”
Speaking about the efforts being made by the Federal Government
to ensure that Nigeria is properly positioned to deal with the
fallouts of the pandemic, Prof. Osinbajo said “there are several
initiatives in place now to attempt an effective response to the
COVID-19 disaster.”
Continuing, the Vice President noted that “in addition, there is
the drive to re-engineer and rethink our healthcare delivery
systems. This by itself, is a massive undertaking that will involve
the states, local governments and the private healthcare community.
I was excited to hear that Global Citizen already has in mind, a
project to build healthcare centres across every local government
in Nigeria.
“In the past few years, I’m sure those of you familiar with the
activities of government probably note there’s been quite a bit of
effort around creating a Social Investment Programme. The precise
purpose of that is not just to provide safety nets for several of
the vulnerable and poor in our midst, but more importantly to
provide jobs, provide credit to several informal traders,
smallholder farmers, several others in our economic value chain who
are usually ignored or untouched by several other credit facilities
and other economic initiatives of government.
“This fund will support that and I have noticed that this is one
of the objectives – to support the Social Investment efforts of the
government, especially the protection of the vulnerable and
provision of assistance to many in that huge informal sector that
we have.”
He commended the NSIA, Global Fund and other partners involved
in the creation of the Nigeria Solidarity Support Fund.
Other participants at the virtual event include the Minister of
Finance, Budget & National Planning, Mrs Zainab Ahmed; the Chairman
of the Board of Directors of NSIA, Mr Jide Zeitlin; the Managing
Director, NSIA, Mr Uche Orji; the Chairman of Global Citizen
Nigeria, Mr Babatunde Folawiyo; and the Vice Chairman Global
Citizen Nigeria, Mr Aigboje Aig-Imoukhuede.
The Vice President, Professor Yemi Osinbajo (SAN), has described
the outbreak of the Novel Coronavirus (COVID-19) Pandemic as an
opportunity for Nigeria to reset its socio-economic structures.
Prof. Osinbajo stated this on Thursday, at a virtual launch of
the Nigeria Solidarity Support Fund, NSSF, an initiative of the
Nigeria Sovereign Investment Authority (NSIA), the Global Citizen,
and other partners. The Vice President joined the event from his
office.
The NSSF was designed to provide additional support for
Nigeria’s response to the COVID-19 pandemic and enable Nigerians
resident at home or in the diaspora as well as international donors
to come together and directly contribute to Nigeria’s fight against
the pandemic.
Speaking on the fallouts of the COVID-19 pandemic on the
Nigerian economy, the Vice President said the establishment of the
Nigeria Solidarity Support Fund would support “the creation of a
stronger, more resilient, more inclusive political economy and
healthcare system.”
According to a statement issued by the Senior Special Assistant
to the President on Media and Publicity, Vice President’s Office,
Mr Laolu Akande, the Vice President said “this is a creative,
forward-looking and thoughtful response to what is perhaps the most
profound global and domestic challenge to health and the economy in
human history.
“We need not belabour the point that the COVID-19 challenge is
also an unprecedented opportunity for us as a nation and people to
reset in critical sectors of the economy and social services.”
Emphasizing the point about resetting Nigeria’s systems, Prof.
Osinbajo said “…the deep plunge in oil earnings, the disruptions to
business and commerce on account of lockdowns, have meant that we
must develop a comprehensive economic response.”
Speaking about the efforts being made by the Federal Government
to ensure that Nigeria is properly positioned to deal with the
fallouts of the pandemic, Prof. Osinbajo said “there are several
initiatives in place now to attempt an effective response to the
COVID-19 disaster.”
Continuing, the Vice President noted that “in addition, there is
the drive to re-engineer and rethink our healthcare delivery
systems. This by itself, is a massive undertaking that will involve
the states, local governments and the private healthcare community.
I was excited to hear that Global Citizen already has in mind, a
project to build healthcare centres across every local government
in Nigeria.
“In the past few years, I’m sure those of you familiar with the
activities of government probably note there’s been quite a bit of
effort around creating a Social Investment Programme. The precise
purpose of that is not just to provide safety nets for several of
the vulnerable and poor in our midst, but more importantly to
provide jobs, provide credit to several informal traders,
smallholder farmers, several others in our economic value chain who
are usually ignored or untouched by several other credit facilities
and other economic initiatives of government.
“This fund will support that and I have noticed that this is one
of the objectives – to support the Social Investment efforts of the
government, especially the protection of the vulnerable and
provision of assistance to many in that huge informal sector that
we have.”
He commended the NSIA, Global Fund and other partners involved
in the creation of the Nigeria Solidarity Support Fund.
Other participants at the virtual event include the Minister of
Finance, Budget & National Planning, Mrs Zainab Ahmed; the Chairman
of the Board of Directors of NSIA, Mr Jide Zeitlin; the Managing
Director, NSIA, Mr Uche Orji; the Chairman of Global Citizen
Nigeria, Mr Babatunde Folawiyo; and the Vice Chairman Global
Citizen Nigeria, Mr Aigboje Aig-Imoukhuede.