- To further stimulate economy
The World Bank has approved an extra $500 million for Nigeria’s Community Action for Resilience and Economic Stimulus (NG-CARES) Programme.
Analysts believe that the funding boost will help the government expand social support for poor and vulnerable Nigerians.
According to the NG-CARES Information and Communication Officer, Suleiman Odapu, the World Bank officially confirmed the release of the funds on December 9, 2025, after all conditions for access were met.
The National Coordinator of NG-CARES, Dr. Abdulkarim Obaje, called the additional funding a “major milestone” for President Bola Tinubu’s Renewed Hope Agenda.
He said it will help strengthen social safety nets and improve economic resilience for households, smallholder farmers, and small businesses affected by economic challenges.
“With this approval, States and the FCT can now start full implementation of NG-CARES, funding Delivery Platforms and Coordination Units.
These expenses will be reimbursed after verification by an Independent Verification Agent (IVA),” Obaje explained.
He also assured that the Federal CARES Support Unit (FCSU) will continue to provide technical support, oversight, and guidance to ensure smooth implementation and compliance with programme standards.
Obaje thanked President Tinubu for his support and commended the Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, for his leadership in the programme’s success.
The Federal Government also appreciated the World Bank for its ongoing support of Nigeria’s social and economic inclusion initiatives.
The additional funding is expected to expand the reach and impact of NG-CARES across the country. NG-CARES 1.0 has already supported over 17 million people by building schools and health facilities, revitalizing small businesses, helping smallholder farmers, providing youth stipends through the Labour Intensive Public Works (LIPW) scheme, and offering livelihood support to vulnerable households.
States and the FCT invested over $2.2 billion in the programme’s implementation. NG-CARES is considered one of the World Bank’s flagship projects in Nigeria and has received a “highly satisfactory” performance rating.