Buhari commends insurance sector for providing N11bn cover for health workers

.Orders CBN to provide stimulus packages for Small businesses

By Adio Oriyomi

As countries across the globe continue to struggle with the economic implications of the COVID-19 pandemic, President Muhammadu Buhari on Monday commended the insurance sector for their support in achieving insurance cover for 5,000 frontline health workers.

Addressing the nation in a live broadcast on the cumulative lockdown order of Lagos and Ogun States as well as the Federal Capital Territory on COVID- 19 pandemics on Monday, President Buhari, says he has directed the Central Bank of Nigeria (CBN) and other financial institutions to make further plans and provisions for financial stimulus packages for Small And Medium Scale Enterprises (SMEs).

According to him, the distribution and expansion of palliatives which I directed in my earlier broadcast is still ongoing in a transparent manner.

“I am mindful of the seeming frustration being faced by expectant citizens. I urge all potential beneficiaries to exercise patience as we continue to fine-tune our logistical and distribution processes working with the State Governments.”

Speaking on the life insurance cover for frontline workers, he said: “In keeping with our Government’s promise to improve the welfare of healthcare workers, we have signed a memorandum of understanding on the provision of hazard allowances and other incentives with key health sector professional associations.

**Finance and Budget Minister, Zainab Ahmed**

“We have also procured insurance cover for five thousand frontline health workers. At this point, I must commend the insurance sector for their support in achieving this within a short period of time.”

He, however, pointed out that Nigeria has also continued to receive support from the international community, multilateral agencies, the private sector and public-spirited individuals.

He said: “This support has ensured that critical lifesaving equipment and materials, which have become scarce globally, are available for Nigeria through original equipment manufacturers and government-to-government processes.”

It would be recalled that the Nigerian Insurance industry announced on Friday that it has supported the Federal Government of Nigeria with the provision of N11 billion life insurance cover to the frontline health workers employed in the fight against COVID-19.

**Ag. Commissioner for Insurance, Thomas**

The Acting Commissioner for Insurance, Sunday Thomas disclosed this in a statement made available to the newsmen at the weekend said that the benefit which is the sum assured payable to the families or named beneficiary of any of the workers that die in the line of duty is as follows: Medical Doctors N3 million; Pharmacists/Nurses N2 million and others N1 million.