Nigerians have generated mixed reactions on social media after Central Bank of Nigeria on Wednesday announced a N1.1tn intervention fund to support critical sectors of the economy, including the global pandemic, COVID-19.
The CBN Governor, Mr Godwin Emefiele said this in a statement made available to journalists. Adding that out of the N1.1tn, about N1tn would be used to support the local manufacturing sector as well as boost import substitution, the Punch reports.
He added that the balance of N100bn would be used to support the health authorities to ensure laboratories, researchers and innovators work with global scientists to patent and produce vaccines and test kits in Nigeria.
This, he said, was imperative following the Coronavirus pandemic, adding that the N100bn would enable the country prepare for any major crises ahead. He reportedly said given the continuing impact of the disease on global supply chains, the CBN will increase its intervention in boosting the economy.
See few reactions below.
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