Update on NG CARES Loan Program as FG Reimbursed States and FCT with N45.3billion

NG CARES Program Update as FG Reimbursed States and FCT with N45.3 billion – NG CARES program is still ongoing as FG reimburses states and FCT with N45.3 billion. To those that applied and are yet to be paid, see when you will be paid. Also, those that are yet to apply for the NG CARES program, can easily do that using the guidelines provided below.

Recall that some months ago, we update you on how to apply for the Federal Government COVID-19 Action Recovery and Economic Stimulus (NG CARES), and some of you took advantage and apply for the program and benefited from it.

Read – Federal Government Loans

We are glad that the Federal Government has approved the release of N45.3 billion as reimbursement to States and the FCT for the implementation of the Nigeria COVID-19 Action Recovery and Economic Stimulus (NG CARES) Programme. The National Coordinator of the NG-CARES Programme, Dr. Abdulkarim Obaje, made the disclosure in a statement by Mr. Suleiman Odapu, Information and Communication Officer, NG-CARES, on Sunday in Abuja.

Read – Easy Apps to Get a Loan

The Nigeria COVID-19 Action Recovery and Economic Stimulus (CARES) program is a $750 million state-driven initiative backed by the World Bank, specifically for the elevation of businesses affected by COVID-19. Through the NG-CARES Program, the World Bank in collaboration with the Nigerian Government aims to deliver targeted relief, restore livelihoods and stimulate the economic recovery of vulnerable households and MSMEs in Nigeria.

Read – NMFB OBL Loan Link Portal– Register

The NG-CARES program is committed to supporting Nigerians through the following initiatives:

  • Result Area 1: Increase Social transfers, basic services, and livelihood support to poor and vulnerable households.
  • Result Area 2: Increase food security and safe functioning of food supply chains for poor households.
  • Result Area 3: Facilitate the recovery and enhance capabilities of MSMEs

The Federal Government on Thursday reimbursed the 29 States and FCT to the tune of N45.3 billion after recovery of the one-off advance. The top three best-performing States in this round of reimbursement are Zamfara State, with N5,273,150,000.00, Bauchi State N4,232,200,000.00, and Ondo State N3,838,233,411.00.

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