World bank gives Nigeria Government $311.2 Trillion to share for poor Nigerians

In its drive to boost Nigeria’s economy, the federal government has founded NG-CARES programme implementation with N311, 250 trillion World Bank loan.⁣

Nigeria’s Vice President, Yemi Osinbajo, on Thursday, 20, 2022 disclosed this during the take-off of the programme in Abuja. ⁣

According to Osinbajo, the initiative is targeted at the country’s poor. ⁣

He said NG-CARES programme is designed to support the poor Nigerians, give immediate emergency relief to smallholder farmers and SMEs that have been impacted badly by the COVID-19 pandemic. ⁣

He revealed that the plan was built within the context of the country’s response to the pandemic crisis and the ESP will serve as the bridge. ⁣

Osinbajo said that the World Bank loan will last for two years (2021-2023), with each state getting N8.2 billion based on the forecast, the Federal Capital Territory getting N6.2 billion, and the Support Unit of NG-CARES receiving N6.2 billion each. ⁣

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