The federal government says it disbursed N900 million in Borno to mitigate COVID-19 impact under the country’s Action Recovery and Economic Stimulus NG-CARES programme.
Junior finance minister Clem Agba disclosed this during the Ministerial Town Hall Meeting for stakeholders in Borno and Yobe in Maiduguri.
Mr Agba said the programme was a $750 million World Bank-assisted multi-sectoral programme launched by President Muhammadu Buhari in July 2020.
He explained that it is an initiative of the state governments with the federal government’s support within the framework of the Economic Sustainability Plan (ESP).
The minister said each state was eligible to draw down $20 million ex-ante and the FCT $15 million within two years of the emergency intervention.
Mr Agba explained that it was designed to provide immediate relief to poor and vulnerable individuals and households, smallholder farmers and micro and small enterprises (MSEs) that were adversely affected by the COVID-19 Pandemic.
The NG-CARES is implemented at the states and FCT under the World Bank Programme for Results (PforR) funding instrument in 11 disbursement-linked indicators and three results areas.
“The town hall meeting is initiated by my Ministry to promote open and transparent governance where citizens’ participatory engagement is further strengthened within the framework of President Buhari’s Government of social accountability,” he explained.
He said the programme had impacted two million direct beneficiaries in the 36 states, including the FCT.
“This is based on the report of the first round of assessment of the programme implementation conducted by an independent verification agent,” Mr Agba stated. “The federal government once again wishes to restate its commitment to restoring the livelihoods of poor and vulnerable Nigerians, maintain food security and facilitate the recovery of MSEs.”
(NAN)
