The Federal Government has determined that the allocation of N135.4 billion to the states and the Federal Capital Territory (FCT) is an important step in assisting the nation in its recovery from the effects of the COVID-19 pandemic. Following the completion of the second Independent Assessment of Results, which was carried out as part of the Nigeria COVID-19 Action Recovery and Economic Stimulus (NG-CARES) program, this allocation was created.
In a statement that was sent on Sunday by Suleiman Odapu, who is the Information and Communication Officer of NG-CARES, Dr. Abdulkarim Obaje, who is the National Coordinator of the NG-CARES Programme, disclosed this new development.
NG-CARES is a comprehensive effort that addresses many sectors and is supported by the World Bank with a considerable budget of $750 million. The primary objective of this initiative is to provide essential emergency relief to the most vulnerable and impoverished Nigerians. Smallholder farmers and Micro, Small, and Medium Enterprises (MSMEs) that have been badly impacted by the repercussions of the COVID-19 pandemic are the specific recipients of the program’s assistance.
Within the context of the NG-CARES framework, Obaje emphasized that the funds that were distributed were closely connected to the performance results of the states and the FCT in their efforts to assist those who were less fortunate.
Obaje highlighted the top performers in this round of evaluation by stating that Nasarawa, Cross River, and Zamfara emerged with impressive performances, securing N13.6 billion, N10.9 billion, and N10.2 billion, respectively. He also mentioned that Zamfara emerged with the highest level of performance.
“This milestone achievement in fund allocation is a testament to the efforts of President Bola Tinubu’s administration in tackling multi-dimensional poverty across the country,” according to Obaje.
A commitment of $750 million from the World Bank was made to the NG-CARES initiative, which was initially introduced by former Vice President Yemi Osinbajo in January 2022. This investment was spread out over a period of two years, from 2021 to 2023.
According to what Osinbajo stated during the launch, each state was given a twenty million dollar intervention budget, with an additional fifteen million dollars reserved for the Federal Capital Territory (FCT), in addition to fifteen million dollars allocated for the Federal Cares Support Unit itself.