The Federal Government has prepared for massive disbursement of Grant Funds as it releases N45.3 Billion for the implementation of the Nigeria COVID-19 Action Recovery and Economic Stimulus (NG CARES) Programme.
The National Coordinator of NG-CARES Programme, Dr Abdulkarim Obaje, made the disclosure in a statement signed by Mr Suleiman Odapu, Information and Communication Officer, NG-CARES, on Sunday in Abuja.
The NG-Care Programme is a World Bank assisted $750 Million Project aimed to expand access to livelihood support and food security services, and grants for poor and vulnerable households and firms.
"To facilitate the smooth take-off of the programme, the Federal Government disbursed a one-off recoverable advance of N35.3 billion to all the 36 States and the FCT in March 2022, and in less than one year, States and FCT have produced results valued at N77.2 billion, impacting over 2 million direct beneficiaries.”
"The Federal Government on Thursday reimbursed the 29 States and FCT to the tune of N45.3 billion after recovery of the one-off advance. The top three best performing States in this round of reimbursement are Zamfara State, with N5,273,150,000.00, Bauchi State N4,232,200,000.00 and Ondo State N3,838,233,411.00.
"This is a milestone in the efforts at reducing poverty in the country,” Obaje noted.
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Obaje appealed to States and the FCT to use the funds released in line with the Financing Agreement and the “Funds Release Policy” which all the States and FCT signed.
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