Lagos CARES will support 125,058 inhabitants in two years

The Lagos State Government on Wednesday unveiled its COVID-19 Action Recovery and Economic Stimulus (CARES) aimed at supporting 125,058 residents in 24 months.

Speaking at the unveiling at Lagos House, Ikeja, Governor of Lagos State, Mr Babajide Sanwo-Olu said that the Lagos CARES initiative is part of the Nigeria CARES (N-CARES) (P4R) results programme.

Sanwo-Olu said the N-CARES program, facilitated by the World Bank, was an integral part of the national approach taken to alleviate the burden of the COVID-19 pandemic and improve the well-being of residents.

He said that the Lagos CARES program which will be implemented between 2021 and 2023 will provide economic assistance and recovery support to identified vulnerable people.

The governor said the initiative would specifically encompass three key result areas, including increased cash transfers and livelihood support for poor and vulnerable households.

He said this would include increasing food security and safe functioning of food supply chains for poor households and facilitating the recovery of micro and small enterprises (MSMEs) while strengthening institutional support for coordination and delivery.

“During the 24-month implementation period in Lagos State, the program will directly support 20,843 households and indirectly 125,058 people.

“There will also be interventions in 69 markets and a minimum of 2,512 MSEs will be supported. The program is designed to be inclusive, targeted and will have an impact on women and youth, ”said Sanwo-Olu.

The Governor also inaugurated the State CARES Steering Committee headed by the Commissioner for Economic Planning and Budget, Mr Sam Egube, to effectively implement the CARES program in Lagos.

He urged committee members not to lose sight of the state government’s THEMES program as they worked on the three outcome areas.

Ms Solape Hammond, Special Advisor to the Governor on Sustainable Development Goals and Investments, said the initiative was facilitated by the $ 750 million obtained by the federal government from the World Bank.

Hammond said every state in the country has secured at least $ 20 million to execute the initiative to jumpstart the economy from the COVID-19 pandemic. (NOPE)

(NAN)