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| Last Updated: Jan 19th, 2012 - 11:25:19 |
Human Capital
FEC approves $50m for polio eradication
Feb 5, 2009, 10:32
| | The Federal Executive Council (FEC) has approved a total sum of $50 million as additional financing from the International Development Association (IDA) for polio eradication projects in Nigeria.
Minister of Information and Communications, Prof. Dora Akunyili who made the disclosure at a press briefing in company of her Finance counterpart, Dr. Mansur Mukhtar on the outcome of the week’s FEC meeting chaired by Vice President Goodluck Jonathan on February 4, at the state house in Abuja, stated that the Minister of Finance, Dr. Mansur Muktar was directed to execute the financing agreement for the IDA facility.
Prof. Akunyili stated that the objective of the IDA facility was to enable government to eradicate the transmission of the wild polio virus and sustain these efforts throughout the project period, through effective oral polio vaccine (OPV) coverage of the target population.
According to her, the additional financing is expected to be deployed in meeting commitments arising from slippages in the execution of polio eradication programmes in some states of the federation. It would also ensure that the project maximizes the achievement of the development objective by supporting the implementation of the new oral polio vaccine delivery system, thereby overcoming the persistence of the wild polio virus transmission in some areas of the country.
Explaining further, Dr. Murktar said the Council approved concessionary credit from IDA of $50 million to support polio eradication as part of efforts of the last push to eradicate the disease globally and to overcome the last setbacks that was recorded in the past.
He said that the terms of this highly concessional standard comprises repayment period of 40 years and 10 years moratorium with commitment charge of more than 0.5 per cent. He noted that this is part of a multi-donor financing framework adding that it is expected that the EU, KFW, which is the German Government Development Agency, Canadian International Development Agency, Bill and Melinda Gates Foundation and Rotary International would make contributions to this initiative in various respects.
"The Bill and Melinda Gate foundation has already committed $50 million. The other point to note is that Council members raised concern in ensuring the effectiveness in the utilisation of this fund that is disbursed. Most of this money will be used in the procurement of oral polio vaccines. I will say about $42 million will go into the annual procurement exercise. So, the procurement and supply will be handled by UNICEF through their international procurement division in Copenhagen. We have an MOU that is being finalised and we have key performance indicators associated with this project in relation to the timely arrival of the vaccines as well as the immunization coverage." He stated.
The finance minister disclosed that currently, the subsisting policy of government with respect to contracting of loans is limited to concessional sources including this one, and will go into human capital and infrastructure development. And so, it fits into the guidelines for contracting this from these agencies.
The Council also directed the Bureau for Public Procurement (BPP) to organise a one-day sensitisation workshop for all federal Permanent Secretaries on the implementation of the procurement process next Tuesday to ensure that budgets are implemented in line with the law without sacrificing the need to implement the budget.
Director General of BPP, Emeka Ezeh, was directed to report to the Council on the outcome of the workshop with the Permanent Secretaries at the next meeting of the Council next Wednesday.
Explaining the essence of the retreat for all federal Permanent Secretaries, Ezeh said that in making the presentation on the implementation plan for this year's budget, an impression was created that the BPP may be an impediment to full implementation of budgets.
He stated that the FCT through its presentation created the impression that for a project to be implemented contracts has to be awarded only around October to November 2009 which created anxiety in the minds of ministers as to whether the procurement process is not a hindrance to project implementation. Council therefore directed that he should hold a retreat with the Permanent Secretaries on Tuesday and then make a presentation on Wednesday.
"However, having looked at it, it is important to notice that the procurements as submitted starts from July really, when the documents that the contractors will use to bid are ready. And so we are going to discuss with MDAs (Ministries, Departments and Agencies) on ways and means, on how to understand the Public Procurement Act with a bid to achieving value for money and at the same time not sacrificing the need to implementing projects for Nigerians. Really, the projects are to address the Nigerian problem. We must not sacrifice the need to deliver dividend of democracy on the altar of the law and at the same time we are not to circumvent the law." He added.
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