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    MarketForces Africa » MarketForces News » NG-CARES Disburses N625bn to 36 States in 3 Years

    NG-CARES Disburses N625bn to 36 States in 3 Years

    Julius AlagbeBy Julius AlagbeSeptember 12, 2024 News No Comments3 Mins Read
    NG-CARES Disburses N625bn to 36 States in 3 Years
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    NG-CARES Disburses N625bn to 36 States in 3 Years

    The Nigeria COVID-19 Action, Recovery and Economic Stimulus (NG-CARES), says it has disbursed N625 billion to the 36 states since inception of the programme.

    The National Coordinator, NG-CARES, Dr Abdulkarim Obaje, stated this during the peer learning and experience sharing exercise, on Thursday in Bauchi.

    NG-CARES is being implemented by the Federal Government in collaboration with the World Bank and the 36 state governments, to mitigate the negative social and economic impacts occasioned by the COVID-19 pandemic.

    It also aimed at addressing other shocks through the provision of grants and basic social infrastructure services to poor and vulnerable communities.

    Obaje described NG-CARES as one of the most successful World Bank’s intervention assisting  more than 5.3 million poor and vulnerable Nigerians.

    He said the programme had been restructured to accommodate victims of flood and other related shocks.

    Mrs Elizabeth Egharebwa, Chairman, Federal CARES Technical Committee, said the programme had been working with communities and agencies to alleviate burdens of the poor and vulnerable Nigerians in the last three years.

    She was represented by Adamu Gizos, Director Special Duties and Projects, Federal Ministry of Labour.

    Egharebwa, who is also the Director, Economic Growth, Federal Ministry of Budget and Economic Planning, said that: ”while we are proud of what we have accomplished thus far, we know there is still much work to be done.

    ”That is why this peer learning event is so critical. By convening diverse perspectives and experiences, we can collectively identify solutions to the complex challenges we face”.

    Also speaking, Mr AbdulAzeez Olorunshola, represtative of the Nigeria Governors’ Forum (NGF), said the exercise was designed to encourage sustainable collaboration between the states.

    This, he said, would ensure better understanding for effective peer learning methods among the  states

    Gov. Bala Mohammed, lauded the NG-CARES over its food security, small businesses and social intervention programmes.

    Represented by Prof. Simon Yalams, the Commissioner for Agriculture and Food Security, Mohammed said the intervention encouraged application of Information Communications Technology (ICT) in the provision of infrastructure and basic services to the people.

    He urged the people to protect and ensure effective utilisation of the facilities provided in their communities for sustainable social and economic development in the country.

    “The peer learning and experience sharing exercise is coming at a time when the phase one cycle of the programme is about to terminate.

    ”This will therefore provide an avenue for participants to articulate and consolidate all the strategies, techniques and skills applied and used in the implementation of the programme in the country.

    ”The lessons learnt would serve as a guide in the conception of development of future programmes, especially the 2.0 whose concept and framework has almost been developed,” he said. #NG-CARES Disburses N625bn to 36 States in 3 Years

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    Julius Alagbe
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    Julius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting.He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa.Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions.He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape.His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses.Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa.Julius Alagbe is based in Lagos, Nigeria.

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