CACOVID plans to empower youths, businesses

The Coalition Against COVID-19 (CACOVID), a private sector alliance formed to eradicate coronavirus from Nigeria, has revealed plans to support government’s efforts in rebuilding the economy.

This follows the mayhem caused by hoodlums who hijacked the EndSARS protests, resulting in vandalism, loss of lives and disruption of the existing state of affairs.

Whilst giving the breakdown of CACOVID’s expenditures, Central Bank of Nigeria(CBN) Governor Godwin Emefiele, noted the coalition has received a N39.64 billion as a donation from its private sector members.

He said it expended N43.272 billion on various projects, including N4.194 billion on building fully equipped isolation centres, N9.017 billion on medical equipment and supplies, N28.7 billion on food palliatives as well as embarked on COVID-19 awareness drives across states in Nigeria, leveraging multiple communication channels.

Emefiele also disclosed CACOVID has put in place certain measures as a supportive gesture to the government in facilitating the recovery process of the economy which has been adversely affected by the pandemic and the recent national unrest.

He said: “These efforts represent some of the essential steps that are important in rebuilding trust and preventing future unrest within our communities.

“It would also complement the government’s efforts aimed at creating jobs for our youths and in strengthening the security apparatus in the country.

“More importantly, it would also prevent the challenges which have emanated from the protest, from affecting the long-term growth prospects for households and businesses in the country.”

The coalition has budgeted N100 billion to procure equipment and gadgets for the Nigerian Police Force over the next two years in addition to rehabilitation of all damaged 44 police stations nationwide.

Over N150 billion will be deployed to set up and implement the Youth Development Programme to provide technical and vocational education to over four million youths over the next five years.

On successful conclusion of the programme, selected students will be eligible to receive loans to support their entrepreneurial pursuits. A total of N25 billion has been earmarked for this.