The federal government of Nigeria has said it will revamp the Nigeria COVID-19 Action Recovery And Economic Stimulus (NG CARES) and inject more funds to ensure more SMEs benefit from the program.
Dr Abdulkarim Ali Obaje, the National Coordinator of the program said, numerous businesses and households especially rural women have been impacted positively from the program and which is while the Federal Government will ensure more Nigerians benefit from the program.
“At present, some of the Local Governments from Benue State, Katsina State and Imo state are different stages of the program with Beneficiaries from Benue State currently receiving their Cash.”
In some of the states beneficiaries are now are the stage of training, we do ensure that all those shortlisted to receive Cash must be trained on how to do business before cash is disbursed to them.
Mr. Aso Vakporaiye who is the Chairman of the technical support committee, while responding to questions said, economically, health wise and in all aspects of life, the effects of COVID-19 pandemic was felt and that was when the world bank came up and said they’ll support the Federal Government of Nigeria on what to do. He stressed however that the NG CARES is a stimulus to get people back economically.
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In case you are not aware
President Muhammadu Buhari had made a promise to lift 100 million Nigerians out of poverty and the NG CARES program is one of those strategic actions being taken to achieve the presidential mandate.
The NG-CARES programme seeks to mitigate the impact of the COVID-19 crisis on the livelihoods of poor individuals, farmers, vulnerable households, communities and owners of micro and small enterprises. The financial instrument is Programme for Result (PforR) at the states and FCT while the Federal level is financed through the Investment Project Financing (IPF).
NG-CARES leverages on past, successfully implemented government interventions such as Community and Social Development Project (CSDP), Government Enterprise and Empowerment Programme (GEEP), National Cash Transfer Programme (NCTP), National FADAMA Programme, State Employment and Expenditure for Results (SEEFOR) and Youth Employment and Social Support Operations (YESSO) without creating another project implementation structure.
It is designed to support a budgeted programme of expenditures and interventions at the State level – targeting existing and emerging vulnerable and poor households, agricultural value chains, and Micro and Small Enterprises (MSEs) affected by the economic crisis.