Cross River, 34 Other States Receive 438.3bln NG-CARES Reimbursement Funds

By Patrick Obia

Cross River State and 34 others have received the sum of four hundred and thirty-eight billion, three hundred and sixty-eight million, nine hundred and fifteen thousand, thirty Naira and twenty-four Kobo (N438,368,915,030.24) being NIgeria COVID-19 Action Recovery Economic Stimulus (NG-CARES) program reimbursement fund.

The NG-CARES Program now renamed Nigeria Community Action for Resilience and Economic Stimulus (NG-CARES) is a World Bank-supported intervention with a credit portfolios of 750 milion US Dollars.

The program Development Objective is “to expand access to livelihood support and food security services and grants for poor and vulnerable households and firms.”

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NG-CARES is a Program for Results (PforR) intervention where States and FCT invest their resources, produce results online with agreed protocols and get reimbursed by the Federal Government after an Independent Verification Exercise.

Among the 34 states and the Federal Capital Territory, Cross River State received the sum of twenty billion, six hundred and seventy million, two hundred and forty one thousand, seven hundred and nine Naira, nineteen kobo (20,670,241,709.19).

In a release of payment signed by the Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu said the NG-CARES is one of the Social Protection Program implementing the tenets of the “Renewed Hope Agenda” of President Tinubu and a cornerstone for economic resilience and sustainability among the poor and vulnerable in underserved communities in Nigeria.

“Let me use this opportunity to commend Mr. President for the various reforms introduced by his administration which have enabled States and FCT to invest massively in NG-CARES thereby producing this outstanding result. Also, worthy of commendation are the State Governors and Honourable Minister, FCT for their commitment to investing in and building resilience among poor and vulnerable Nigerians using the NG-CARES Program.

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