FG Releases N135.4 Billion NG-CARES Funds to 36 States to Share to Nigerians
- The Nigerian government has disbursed about N135 billion to the 36 states under the NG-CARES scheme
- The initiative is a World Bank-assisted initiative, a performance-for-results programme with a budget of $750 million
- The top beneficiary states include Zamfara, Cross Rivers and Nasarawa States
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The Nigerian government has disbursed about N135 billion to the 36 states in the country and the Federal Capital Territory Abuja, following the second Independent Assessment of the outcome reached under the Nigeria COVID-19 Action Recovery and Economic Stimulus (NG-CARES) plan.
The World Bank-assisted initiative is a performance-for-results programme with a significant budget of $750 million.
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Zamfara, Cross Rivers top beneficiary states
The National Coordinator of NG-CARES, Abdulkarim Obaje, disclosed this in a statement issued by Suleiman Odapu, the Information and Communications Officer at NG-CARES, on Sunday, November 3, 2023, in Abuja.
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Obaje said the allocation of the funds was tied to the outcomes attained by the states and the FCT in their moves to help the underprivileged as part of NG-CARES initiatives.
According to him, the top performers are Nasarawa, Cross Rivers, and Zamfara states, which earned about N13.6 billion, N10.9 billion, and N10.2 billion, respectively, following the second phase of the programme assessment.
“This is a milestone achievement in the efforts of President Bola Tinubu’s administration at providing funds towards addressing multi-dimensional poverty in the country,” Obaje stated.
NG-CARES C=conceived to help homes and businesses
Obaje praised the Minister of Budget and Economic Planning, Atiku Bagudu, for coordinating the project across the states and the FCT.
The national coordinator commended the state governors, the FCT minister, and the World Bank for providing support.
The Nigerian government founded the programme as a strategic initiative created as a shock response agency and distribution platform to reach out to disadvantaged and vulnerable Nigerians.
Reports say the system operates via 158 integrated Ministries, Departments, and Agencies across the 36 states and FCT, showing a well-established history of success of previous donor-aided schemes.
There are plans for the programme to expand support to food and security services and grants for underprivileged and vulnerable families and companies.
Nigeria’s NG-CARES to take off With N311.2 trillion World Bank loan
Legit.ng reported that In its drive to boost Nigeria’s economy, the federal government has founded the NG-CARES programme implementation with a N311,250 trillion World Bank loan.
Nigeria’s Vice President, Yemi Osinbajo, on Thursday, 20, 2022 disclosed this during the take-off of the programme in Abuja.
A report from Nairametrics said that NG-CARES is a multi-sectoral focused programme, along with the ongoing execution of the Economic Sustainability Plan (ESP) as well as the state cash transfer units/MSE support unit, Agriculture Development Agencies and Job Creation Units funded by the Administration’s Enterprises and Empowerment Programme (GEEP).
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Source: Legit.ng
