The Federal Government, on behalf of the 36 state governments and the Federal Capital Territory, is about to receive a one-year extension to access the 0 million concessional loan from the World Bank for Nigeria’s COVID-19 Action Recovery and Economic Stimulus.

During his speech at the ceremony, Okunmadewa stated that after subtracting the initial advance, 29 states and the FCT have so far received compensation. He added that seven states had not received reimbursement.

He said that as long as state governments continue to demonstrate their commitment to disbursing the money, the World Bank will continue to permit access to funds.

In his remarks, Clem Agba, the minister of state for budget and national planning, stated that the NG-CARES programme had a positive impact on the lives of over two million direct beneficiaries in the nation and that this development was in line with the president’s goal of removing 100 million Nigerians from poverty within ten years.

Agba stated that the federal government was committed to recovering the livelihoods of poor and vulnerable Nigerians, saying that the extension of the project was essential to eradicating poverty in the nation. The Minister was represented by the Chairman of the NG-CARES Technical Committee, Reverend Aso Vakporaye.