The Federal Government has disbursed a total sum of N438, 368,915,030.24, to 34 states and the Federal Capital Territory (FCT) as reimbursement for their investments in the Nigeria COVID-19 Action Recovery and Economic Stimulus (NG-CARES) Programme.
Minister for Budget and Economic Planning, Abubakar Bagudu said the reimbursement was made after the third independent verification intervention assessment.
The NG-CARES Programme is a World Bank-supported initiative aimed at providing households with credit portfolios and grants to support poor and vulnerable individuals and firms.
Under the programme, states and the FCT invest their resources following agreed protocols and receive reimbursement from the Federal Government after an independent verification exercise. The total amount disbursed to the 34 states and FCT stood at N438, 368,915,030.24.
Also, the top five states that received the highest amounts are Zamfara (N49.182 billion), Nasarawa (N27.204 billion), Plateau (N26.312 billion), Gombe (N25.305 billion), and Kebbi (N21.589 billion).
Other states include, Cross River; 20,670,241,709.19, Rivers 19,517,766,804.45; Niger; 17,769,395.563.89, Adamawa; 17,535.952,985.60, Katsina 15,455.420,486.35, Imo; 15, 408,252,449.34, Sokoto; 14,177,508,862.60, Ondo; 13,925,262,355.18, Delta; 13,268,320,155.81, Abia; 12,175,57,893.70, Bayelsa; 10,830,587,695.70, Yobe; 10,172,244,387.67, Kwara; 9.915,101,215.91, Osun 9.562,512,549.27
Bauchi 7,304,665,994.92, Kogi; 6,903,713,160.77, FCT; 6,773,326,717.84
Ebonyi 6,255.864,530.97, Enugu; 6,191,959,222.93, Kano; 6,154.448,839.35, Oyo; 5,966,675,258.19
Borno 5,898,270,783.50 Jigawa; 5,770,132,061.00, Lagos; 5.569,060,730.14, Taraba; 5,508,762,972.80, Ekiti; 5,507,202,258.33 Edo; 5,122,103,650.09, Benue; 4,908,421,973.10, Akwa Ibom; 2,430,830,532.46, Ogun; 2,125,069,028.52.
Bagudu therefore commended President Bola Ahmed Tinubu for his administration’s reforms, which have enabled states and the FCT to invest heavily in the Programme.
He also acknowledged the commitment of state governors and the Honourable Minister of the FCT for their efforts in building resilience among poor and vulnerable Nigerians using the programme.
NG-CARES is one of the Social Protection Programmes implementing the tenets of the “Renewed Hope Agenda” of Mr President and a cornerstone for economic resilience and sustainability among the
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