Following the mayhem caused by hoodlums who hijacked the #EndSARS protests, the Coalition Against COVID-19 (CACOVID) has announced updates on its fully-owned activities as well as intentions to support the government’s efforts at rebuilding the nation’s economy.
According to CACOVID, which was formed in March 2020 by the Central Bank of Nigeria (CBN) and the Deposit Money Banks as well as key stakeholders in the private sector, it has budgeted N100 billion to procure equipment and gadgets for the Nigeria Police Force over the next 2 years, in addition to the rehabilitation of all the damaged (44) police stations nationwide.
It added that over N150 billion will be deployed to set up and implement the Youth Development Programme to provide technical and vocational education for over 4 million Nigerian youths over the next 5 years.
“On successful conclusion of the program, selected students will be eligible to receive loans to support their entrepreneurial pursuits. A total of N25 billion has been earmarked for this,” the group added in a statement.
News Central reports that in August, youths across Nigeria had stormed the streets in protests against a rogue police unit, the Special Anti-Robbery Squad (SARS). Hoodlums later hijacked the EndSARS protests, resulting in vandalism, loss of lives and disruption of the existing state of affairs.
Whilst giving a breakdown of CACOVID’s expenditures, Godwin Emefiele, the CBN governor, noted that the coalition has received a total of N39.64 billion as a donation from its private sector members and 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 that 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.
The CBN governor, 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.”