NG-CARES Financial Support to Aid COVID-19 Economic Recovery Plan
The Nigerian Federal Government has given its approval to reimburse the states and Federal Capital Abuja with 45.3 billion Naira for the NG-CARES program. The aim of the program is to provide assistance to Nigeria’s economic recovery plan during the COVID-19 pandemic.
The money was released on April 13th and based on the outcomes of elections in each state and Abuja, after a careful review by an impartial expert. The NG-CARES National Program Coordinator, Dr. Abdulkarim Obaje, announced this in a statement on Sunday in Abuja.
Significant Progress Made by the States and FCT
Dr. Obaje reported that the states and Abuja have made significant progress towards achieving the goals and objectives of the NG-CARES program. To ensure a smooth program launch, the Federal Government provided 35.3 billion Naira financial support to all 36 states and the Federal Capital Abuja in March 2022.
In less than a year, the states and Abuja have made progress and produced results of 77.2 billion Naira, which has directly benefited more than two million people.
Refunds Received by 29 States and FCT
The Federal Government has refunded 45.3 billion Naira to 29 states and Abuja. The three states that received the most optimistic refund are Zamfara State, Bauchi State, and Ondo State. This signifies progress in the battle against poverty in the country.
Money Must Be Used in Accordance with the Financial Agreement and “Fund Release Policy”
The National Coordinator has requested that the money released be used by the states and Abuja in accordance with the Financial Agreement and “Fund Release Policy” that both the states and Abuja have signed.
Prince Clem Ikanade Agba, Minister of State for Budget and National Planning, has been complimented for providing essential federal leadership to coordinate and carry out the program throughout the states, the federal capital, state governments, and the federal government of Abuja.
The World Bank will offer credit as well as technical assistance.
NG-CARES Program Implemented in All 36 States and FCT
The NG-CARES program has been executed by the Nigerian Federal Government in all 36 states and the Federal Capital Territory (FCT) with aid from the World Bank.
The program aims to increase access to food, support services, and life-sustaining measures for underprivileged homes and enterprises.
NG-CARES Program Aims to Help Underprivileged Homes and Enterprises
NG-CARES aims to enhance access to food, support services, and life-sustaining measures for disadvantaged households and businesses.
The program is focused on supporting vulnerable households affected by the COVID-19 pandemic, as well as micro and small enterprises that have been negatively impacted by the pandemic.
The program includes various interventions such as cash transfers, food assistance, and livelihood support to enable the beneficiaries to cope with the economic impact of the pandemic. The program also supports the development of social protection systems and the enhancement of basic service delivery in health, education, and water and sanitation.
NG-CARES Program Aims to Alleviate Poverty in Nigeria
The NG-CARES program is an important part of the Nigerian government’s efforts to alleviate poverty in the country. The program is designed to provide a safety net for vulnerable households and to support the growth of small businesses that are crucial for job creation and economic growth.
The program is being implemented in all 36 states and the Federal Capital Territory, Abuja, and is expected to have a significant impact on the lives of millions of Nigerians. The World Bank is providing technical and financial support for the program, and its success will be critical for Nigeria’s economic recovery from the COVID-19 pandemic.
In conclusion, the NG-CARES financial support provided by the Federal Government is a significant step towards the recovery of Nigeria’s economy from the impact of the COVID-19 pandemic.
The program’s focus on vulnerable households and small businesses is essential for reducing poverty and creating economic opportunities for Nigerians.
The successful implementation of the program will require the cooperation of all stakeholders, including the government, the private sector, and civil society organizations.
Register for NG Cares
Steps to Register Free
- First enter your email id in following text box
- Click on “Register” button
- Login your email and verify your free subscription.
FAQ
The NG-CARES program is a financial support initiative approved by the Nigerian Federal Government to aid the country’s economic recovery plan during the COVID-19 pandemic. The objective is to offer aid to households and small businesses in vulnerable situations due to the pandemic.
The Nigerian Federal Government has allocated 45.3 billion Naira for the NG-CARES program.
The Federal Government has refunded 45.3 billion Naira to 29 states and the Federal Capital Territory (Abuja) based on the outcomes of elections and a careful review by an impartial expert.
The NG-CARES program aims to increase access to food, support services, and life-sustaining measures for underprivileged households and enterprises. It focuses on supporting vulnerable households affected by the COVID-19 pandemic and micro and small enterprises negatively impacted by the pandemic.
Register for NG Cares Updates
Steps to Register Free
- First enter your email id in following text box
- Click on “Register” button
- Login your email and verify your free subscription.