Follow Us on Google
From Magnus Eze, Enugu
The World Bank has announced an extension of the Nigeria COVID-19 Action Recovery and Economic Stimulus (NG-CARES) programme from June 2023 to June 2024.
Minister of State for Budget and National Planning, Clem Agba, who disclosed this during a Ministerial Town Hall Meeting with stakeholders and beneficiaries of the programme across the South East, at the weekend, explained that the extension was due to the food security gaps caused by the 2022 flooding.
Represented by the Chairman, Federal CARES Technical Committee, Aso Vakporaye, the minister noted that the NG-CARES programme followed the outbreak of the pandemic which ravaged many economies of the world with devastating consequences on the livelihood of the poor and vulnerable individuals, formal and informal businesses.
He explained: “The development prompted the federal government to access a World Bank concessional loan in the sum of US$750 million on behalf of the 36 states of the federation and the FCT to stimulate the local economy.”
He said that the Town Hall Meeting was to provide the Federal Government with the opportunity to interact with stakeholders of the programme, State Government officials and beneficiaries to obtain and document information on achievements and challenges from direct beneficiaries and implementing entities. “In about a year of full implementation, NG-CARES has impacted over 2 million direct beneficiaries based on a report of the first round of assessment of the programme implementation conducted by an independent verification agent,” he said.
Enugu State Commissioner for Finance/Chairman, State CARES Steering Committee, Adaonah Kene-Uyanwanne said that governance must consider the vulnerable to be sustainable, adding that governance without the grassroots was meaningless.
At the meeting, the beneficiaries of the programme took turns to speak about how it has empowered them economically as well as improved their socio-economic wellbeing. They called on the federal government to increase the number of beneficiaries across the country.
•
