…Over 16 million Nigerians already benefited from NG-CARES as FG pushes for additional $500m World Bank funding
The Minister of Budget and Economic Planning, Senator Abubakar Bagudu, has reaffirmed President Bola Ahmed Tinubu’s unwavering commitment to improving the lives of poor and vulnerable Nigerians, stressing that targeted economic recovery programmes remain at the heart of the administration’s Renewed Hope Agenda.
Speaking in Abuja on Wednesday at a stakeholders’ meeting on the Nigeria Community Action for Resilience and Economic Stimulus (NG-CARES) Programme Additional Financing, Bagudu emphasized that the President is determined to restore livelihoods, ensure food security, and revive micro and small enterprises across the country.
> “President Bola Tinubu’s visionary leadership has created a favourable macroeconomic environment, enabling the launch of impactful programmes that directly support underprivileged and vulnerable groups,” Bagudu said, addressing commissioners of Finance, Budget, and Economic Planning from the 36 states and the FCT.
NG-CARES: A Lifeline for the Poor
The NG-CARES programme, initially launched in June 2021 as a COVID-19 recovery initiative, has evolved into a broader social safety net to cushion the effects of climate change, conflict, natural disasters, and economic shocks—especially for vulnerable populations. Backed by a $750 million World Bank credit facility through the International Development Association (IDA), the programme has already delivered over 16 million direct beneficiaries across Nigeria’s states and the FCT.
According to Bagudu, the Federal Government, acting on behalf of state governments, has now requested an additional $500 million from the World Bank to scale up the intervention through NG-CARES Additional Financing (AF).
> “The World Bank Board and the Federal Executive Council have approved the credit. What we await now is the approval of the National Assembly so we can move forward with this crucial support,” he disclosed.
Programme Expansion to Sustain Livelihoods
Bagudu noted that the expanded NG-CARES programme is essential for mitigating extreme poverty and strengthening the capacity of communities to absorb future shocks.
> “Nigeria cannot afford to remain in poverty. With a population exceeding 200 million, sustaining livelihoods is central to all our development priorities,” he said.
The Minister explained that the Additional Financing will:
Scale up successful components of the original programme
Deepen coordination between the federal and state governments
Strengthen service delivery systems
Accelerate the implementation of crisis-response initiatives
Institutional Support, Monitoring, and Accountability
Bagudu assured stakeholders that the Tinubu administration would continue to uphold high standards of monitoring, evaluation, and quality assurance for all programme activities.
He added that federal entities will provide technical assistance, institutional support, strategic guidance, and capacity building to the states to ensure the programme’s success.
> “We will offer coordinated institutional strengthening and technical support to all participating states. Our aim is proper oversight, strategic review, and enhanced results,” he said.
The minister concluded by urging state officials to foster stronger collaboration between their Finance and Planning Ministries, in line with the federal government’s approach to integrated service delivery for poverty reduction and economic resilience.
With the additional financing in the pipeline and renewed political will at the highest levels, NG-CARES stands poised to become one of Nigeria’s most impactful social protection initiatives, accelerating the President’s vision of inclusive growth and shared prosperity.
