Recall that some months ago, we update you on how to apply for the Federal Government COVID-19 Action Recovery and Economic Stimulus (NG CARES) and some of you took advantage and apply for the program and benefited from it.
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We are glad that the Federal Government has approved the release of N45.3 billion as reimbursement to States and the FCT for the implementation of the Nigeria COVID-19 Action Recovery and Economic Stimulus (NG CARES) Programme. The National Coordinator of NG-CARES Programme, Dr Abdulkarim Obaje, made the disclosure in a statement by Mr Suleiman Odapu, Information and Communication Officer, NG-CARES, on Sunday in Abuja.
The Nigeria COVID-19 Action Recovery and Economic Stimulus (CARES) program is a $750 million state-driven initiative backed by the World Bank, specifically for the elevation of businesses affected by COVID19. Through the NG-CARES Program, the World Bank in collaboration with the Nigerian Government aims to deliver targeted relief, restore livelihoods and stimulate the economic recovery of vulnerable households and MSMEs in Nigeria.
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The NG-CARES program is committed to supporting Nigerians through the following initiatives:
- Result Area 1: Increase Social transfers, basic services, and livelihood support to poor and vulnerable households.
- Result Area 2: Increase food security and safe functioning of food supply chains for poor households.
- Result Area 3: Facilitate the recovery and enhance capabilities of MSMEs
The Federal Government on Thursday reimbursed the 29 States and FCT to the tune of N45.3 billion after recovery of the one-off advance. The top three best performing States in this round of reimbursement are Zamfara State, with N5,273,150,000.00, Bauchi State N4,232,200,000.00 and Ondo State N3,838,233,411.00.