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Each Nigerian state to get $20m as Osinbajo inaugurates $750m COVID-19 recovery program

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Vice President Yemi Osinbajo has inaugurated Nigeria COVID-19 Action Recovery and Economic Stimulus, NG-Cares, to be implemented with a 0 million World Bank facility.
The vice president made the opening on Thursday as a prelude to the meeting of the National Economic Council, NEC, which he chaired at the State House Banquet Hall, Abuja.
He said that under the NG-Cares, which would be for a period of two years, from 2021 to 2023, each state would receive 20 million dollars, while the Federal Capital Territory, FCT, would receive 15 million dollars.



He explained that “NG-Cares is a multi-sector program designed to help poor and vulnerable Nigerians by essentially providing emergency relief to small farmers and MSMEs, especially those who have been negatively affected by the COVID-19 pandemic.
“The program will build on the varied and extensive federal government interventions developed as part of the President's plan to lift 100 million Nigerians out of poverty and in response to the severe socio-economic consequences of the pandemic, especially the programs and plans contained in the Economic Sustainability Plan (ESP).
“The essential addition to the Federal Government program is that the NG-Cares program will build on existing programs in the states, especially job creation programs, wealth creation programs, poverty reduction programs at the community level, such as state units of cash transfer, state Fadama or agricultural development agencies, state job creation units and MIPYME units.
“All the support of the Government Empowerment and Enterprises Program (GEEP).
“The World Bank loan is of the order of 750 million dollars and this will be in a period of two years: 2021-2023;  intervention allocation to each state is  million and  million to the FCT;  there is also  million for the Federal Care Support Unit''.
According to him, the program will be promoted by the states and there will be a results delivery mechanism type program in which case performance must be demonstrated.
He said that the Federal Government also viewed the program as an important complement to its own expanded number of social transfer recipients.
He noted that “the subsidy and donations to support individuals, households and MSMEs in the 2021-2024 multi-year development plan was developed in the context of the response to the COVID-19 crisis and the ESP.
“That plan serves as a bridge to ensure the successful implementation of the program.  The Federal Government will provide quality assurance, monitoring, capacity building, and technical assistance to the states and the FCT on project activities and results.
“Accordingly, the Federal Government established the Federal Cares Steering Committee, the Federal Cares Technical Committee, and the Federal Cares Support Unit to provide overall policy direction, technical support to all states and the FCT, and to advise the president as appropriate,” He said.  saying.
The vice president said he looked forward to a quick and effective implementation of the program at both the federal and state levels.
He urged stakeholders to deploy their wealth of experience and knowledge to ensure the successful launch and implementation of the programme.
In his speech, Minister of State for Budget and National Planning Clem Agba said that the vision, concept and design of NG-Cares stemmed from the ground-breaking social protection agenda of President Muhammadu Buhari's administration.
He said that the framework of the NG-Cares program falls within the context of the ESP and the National Development Plan 2021 to 2025, developed as a result of the COVID-19 pandemic.
According to him, the objectives of NG-Cares are;  expand access to livelihood support, food security services and grants for poor and vulnerable households and businesses.
For his part, the Country Director of the World Bank in Nigeria, Shubham Chaudhuri, said that NG-Cares involved collaboration between the Federal Government, multiple ministries and the states.
He said that “its genesis was described by the Minister of State before, after the start of the pandemic.
“When it became clear that for Nigeria possibly the biggest impact of the COVID-19 pandemic globally will be the impact on small business livelihoods;  of poor and vulnerable households and farmers here in Nigeria, the socio-economic impact.
“So earlier, in parallel with the discussions about how we could support Nigeria in terms of the public health response, we also started discussions about how we could handle the socio-economic response and the NG-Cares program is the result of that.  .”
In his remarks, Governor Kayode Fayemi of Ekiti and Chairman of the Nigerian Governors Forum said that NG-Cares was designed in conjunction with the World Bank team as a complement to ESP.
YAYA
Each Nigerian state to get m as Osinbajo inaugurates 0m COVID-19 recovery program

Vice President Yemi Osinbajo has inaugurated Nigeria COVID-19 Action Recovery and Economic Stimulus, NG-Cares, to be implemented with a $750 million World Bank facility.

The vice president made the opening on Thursday as a prelude to the meeting of the National Economic Council, NEC, which he chaired at the State House Banquet Hall, Abuja.

He said that under the NG-Cares, which would be for a period of two years, from 2021 to 2023, each state would receive 20 million dollars, while the Federal Capital Territory, FCT, would receive 15 million dollars.

He explained that “NG-Cares is a multi-sector program designed to help poor and vulnerable Nigerians by essentially providing emergency relief to small farmers and MSMEs, especially those who have been negatively affected by the COVID-19 pandemic.

“The program will build on the varied and extensive federal government interventions developed as part of the President’s plan to lift 100 million Nigerians out of poverty and in response to the severe socio-economic consequences of the pandemic, especially the programs and plans contained in the Economic Sustainability Plan (ESP).

“The essential addition to the Federal Government program is that the NG-Cares program will build on existing programs in the states, especially job creation programs, wealth creation programs, poverty reduction programs at the community level, such as state units of cash transfer, state Fadama or agricultural development agencies, state job creation units and MIPYME units.

“All the support of the Government Empowerment and Enterprises Program (GEEP).

“The World Bank loan is of the order of 750 million dollars and this will be in a period of two years: 2021-2023; intervention allocation to each state is $20 million and $15 million to the FCT; there is also $15 million for the Federal Care Support Unit”.

According to him, the program will be promoted by the states and there will be a results delivery mechanism type program in which case performance must be demonstrated.

He said that the Federal Government also viewed the program as an important complement to its own expanded number of social transfer recipients.

He noted that “the subsidy and donations to support individuals, households and MSMEs in the 2021-2024 multi-year development plan was developed in the context of the response to the COVID-19 crisis and the ESP.

“That plan serves as a bridge to ensure the successful implementation of the program. The Federal Government will provide quality assurance, monitoring, capacity building, and technical assistance to the states and the FCT on project activities and results.

“Accordingly, the Federal Government established the Federal Cares Steering Committee, the Federal Cares Technical Committee, and the Federal Cares Support Unit to provide overall policy direction, technical support to all states and the FCT, and to advise the president as appropriate,” He said. saying.

The vice president said he looked forward to a quick and effective implementation of the program at both the federal and state levels.

He urged stakeholders to deploy their wealth of experience and knowledge to ensure the successful launch and implementation of the programme.

In his speech, Minister of State for Budget and National Planning Clem Agba said that the vision, concept and design of NG-Cares stemmed from the ground-breaking social protection agenda of President Muhammadu Buhari‘s administration.

He said that the framework of the NG-Cares program falls within the context of the ESP and the National Development Plan 2021 to 2025, developed as a result of the COVID-19 pandemic.

According to him, the objectives of NG-Cares are; expand access to livelihood support, food security services and grants for poor and vulnerable households and businesses.

For his part, the Country Director of the World Bank in Nigeria, Shubham Chaudhuri, said that NG-Cares involved collaboration between the Federal Government, multiple ministries and the states.

He said that “its genesis was described by the Minister of State before, after the start of the pandemic.

“When it became clear that for Nigeria possibly the biggest impact of the COVID-19 pandemic globally will be the impact on small business livelihoods; of poor and vulnerable households and farmers here in Nigeria, the socio-economic impact.

“So earlier, in parallel with the discussions about how we could support Nigeria in terms of the public health response, we also started discussions about how we could handle the socio-economic response and the NG-Cares program is the result of that. .”

In his remarks, Governor Kayode Fayemi of Ekiti and Chairman of the Nigerian Governors Forum said that NG-Cares was designed in conjunction with the World Bank team as a complement to ESP.

YAYA

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