The World Bank has granted a year extension for the Nigeria COVID-19 Recovery and Economic programme.
Minister of State for Finance, Budget and National Planning, Clem Agba, who made this known in Benin, Edo State, said that the programme known as “NG-CARES,” will run from June 2023 to June 2024.
Ogba, who added that Nigeria still needs $750m loan from the bank for three basic areas impacted by the deadly virus, explained that the extension was because of the need to bridge food security gaps caused by the 2022 floods.
He said: “Due to last year’s floods that affected food security and the supply chain, we approached the World Bank for an extension of the programme from June 2023 to June 2024.”
Agba, who chairs the Federal CARES Steering Committee (FCSC), recalled that the Federal Government gave 34 states N1 billion each while Lagos State, the epicentre of the virus received N10 billion.
He also stated that Kano State and the Federal Capital Territory(FCT) which were also epicentres of COVID-19 got a little less than Lagos State.
His words: “The effects of COVID-19 still live with us, and that is where the NG-CARES programme is still very apt.