The Federal Government has stated that it is proposing to spend the sum of N396 billion for COVID-19 vaccination exercise across the country between 2021 and 2022.

Minister of Budget and National Planning, Zainab Ahmed disclosed this on Wednesday after the weekly Federal Executive Council meeting, which was presided over by Vice President Yemi Osinbajo.

Ahmed explained that the figure may significantly reduce as the Federal Government receives more donations of the vaccines from the private sector.

She added that the Ministry of Health is working on details of the gap that the Federal Government will be required to fill in the vaccination exercise.

Ahmed also explained that the size of proposed supplementary budget agreed by the executive and legislative arm is yet to be resolved, because Ministry of Defence and Health, are yet to provide details of the military hardware requirement.

The finance minister earlier in February said a supplementary budget will be needed to cover the cost of COVID-19 vaccinations, for which no provision was made in the 2021 finance bill adopted in December.

Meanwhile, Federal Government has said it plans to inoculate 40% of Nigeria’s population this year and another 30% in 2022.