FEDERAL GOVERNMENT LAUNCHED STIMULUS PACKAGE FOR COVID-19
The Nigerian government have launched a stimulus package for COVID-19 relief
Vice-President Yemi Osinbajo on Thursday launched the Nigeria COVID-19 Action Recovery and Economic Stimulus, to be implemented with a $750m World Bank facility.
Senior Special Assistant to the Vice President on Media and Publicity, Laolu Akande, disclosed this in a statement he signed on Thursday titled, ‘World bank $750m support will complement FG’s social investment, job creation, poverty reduction programmes–Osinbajo’.
The inauguration was a prelude to the National Economic Council meeting chaired by the Vice President at the State House Banquet Hall, Abuja.
According to him, the NG-Cares, which would be for two years (2021-2023), will avail states with $20m, while the Federal Capital Territory would receive $15m.
“NG-Cares is a multi-sectoral programme designed to support vulnerable and poor Nigerians to provide essential emergency relief to smallholder farmers and MSMEs, especially those that were adversely affected by the COVID-19 pandemic.
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