COVID-19: Nigeria disburses N35bn under World Bank-funded NG-CARES to states, FCT

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The Federal Government of Nigeria(FGN )states about N35.3 billion have actually been disbursed to 36 states and the Federal Capital Territory (FCT) to reduce COVID-19 effect.

Group Leader, Physical Implementation Support Mission for NG-CARES Programme, Prof. Yusuf Suleiman gave the figures on Friday.

Suleiman spoke during a courtesy see to Kebbi Governor Atiku Bagudu at the Government House in the capital Birnin Kebbi.

In February, Vice President Yemi Osinbajo introduced the World Bank-financed Nigeria COVID-19 Action Recovery and Economic Stimulus (NG-CARES) with $750million loans.

The funds assist states in their efforts to reduce the impacts of the socio-economic crisis triggered by the coronavirus pandemic.

“As of recently, we had the ability to disburse N35.3 billion to states out of which Kebbi got N900million”, NAN quoted Suleiman stating.

“The review that we did was a desk review. What you saw on paper was far listed below the level of what had been accomplished at the state level.”

The official kept in mind that states are expected to deliver on outcomes initially prior to the cash might be repaid.

Suleiman stated what has actually been offered to the 36 governments and the FCT must be recouped fully in the next 6 months.

He warned that if a state was unable to attain outcomes beyond the N900million got, doing so would be difficult moving forward.