Politics
Breaking: Federal Government Allocates N135 Billion To 36 States And FCT From $750 Million World Bank Loan
The Federal Government has released a sum of N135.4 billion to states and the Federal Capital Territory as part of the Nigeria COVID-19 Action Recovery and Economic Stimulus (NG-CARES) initiative, following the second Independent Assessment of Results. Dr. Abdulkarim Obaje, the National Coordinator of NG-CARES, conveyed this announcement in a statement on Sunday through Suleiman Odapu, the Information and Communication Officer at NG-CARES….CONTINUE READING....KINDLY READ THE FULL STORY HERE▶

NG-CARES, a multi-sectoral program supported by the World Bank with a budget of $750 million, aims to provide essential emergency relief to vulnerable and impoverished Nigerians. The initiative particularly focuses on supporting smallholder farmers and Micro, Small, and Medium Enterprises (MSMEs) severely affected by the COVID-19 pandemic.
Obaje explained that the disbursement of funds was tied to the performance of states and the FCT in their efforts to assist the underprivileged under the NG-CARES initiative. Nasarawa, Cross Rivers, and Zamfara emerged as the top performers, receiving N13.6 billion, N10.9 billion, and N10.2 billion in the second round of the program assessment.
He highlighted, “The top three best-performing states in this Second Round of Assessment are Nasarawa, which earned N13,697,828,496.96, Cross River N10,944,747,818.84, and Zamfara N10,231,055,267.82. This is a milestone achievement in the efforts of President Bola Tinubu’s administration at providing funds towards addressing multi-dimensional poverty in the country.”
It is worth noting that NG-CARES was launched by former Vice-President Yemi Osinbajo in January 2022, with a World Bank loan of $750 million allocated over two years (2021-2023). Each state received an intervention allocation of $20 million, with $15 million allocated to the Federal Capital Territory and an additional $15 million for the Federal Cares Support Unit.
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