Since 2021, the World Bank (WB) has injected $750 million into the NG-CARES initiative, the Federal Government of Nigeria’s flagship COVID-19 Action Recovery and Economic Stimulus programme. That funding has now helped leverage more than $2.2 billion in total investments at the state level, transforming NG-CARES into a major catalyst for nationwide social protection and economic revival.
During a recent visit to the Ministry of Budget and Economic Planning, the World Bank’s Regional Manager for Social Protection and Labour for West and Central Africa, Mr. Robert Chase, praised Nigeria’s leadership and innovation in delivering a large-scale, continent-leading social safety net. The initial $750 million seed has triggered a chain reaction of state-level spending, funds that directly support vulnerable households, farmers, small businesses, and underserved communities.
According to the NG-CARES coordinator, states and the Federal Capital Territory (FCT) matched the World Bank’s support with over $1.4 billion from their own budgets, ensuring that the total deployment rose to $2.2 billion. The programme’s interventions have helped millions: those eligible have benefited from cash transfers, livelihood grants, food-security support, agricultural inputs, and stimulation of micro and small enterprises, all strategies to cushion the shock from COVID-19 and broader economic headwinds.
The first phase of NG-CARES is scheduled to conclude this year. But thanks to demonstrated success, additional financing is expected to kick in by December 9, with a full relaunch in January 2026. The next phase will expand cash transfers, strengthen identification systems, and deepen livelihood support, aiming to build resilience and prevent future economic and social shocks.
Officials note that what began as emergency relief has matured into a shock-responsive social-protection platform one that supports communities, stabilizes household incomes, and stimulates state-level economic activity across all 36 states and the FCT.
According to the Minister of Budget and Economic Planning, Abubakar Atiku Bagudu, Nigeria’s constitution obliges federal, state, and local governments to pursue shared national goals, including social welfare and inclusive development. He advocates for coordinated, ward-level governance structures to prevent duplication, encourage community participation, and ensure that social support and economic initiatives under NG-CARES and related programmes, such as the HOPE Agenda and the Nigeria for Women Project, operate within a harmonised ecosystem.
He stressed Nigeria needs scaled interventions to lift millions out of poverty especially in a context where many Nigerians are hardworking but struggle because economic returns remain low. “Our goal is to lift millions out of poverty by 2030 through coordinated programmes, strengthened efficiency, and expanded financing.”
By turning a $750 million seed fund into more than $2.2 billion in multi-state investments, NG-CARES has injected fresh capital into local economies, boosted micro-businesses, reinforced agriculture and food security, and stabilized household incomes, all vital steps toward reviving Nigeria’s economic activity and averting a deeper post-pandemic downturn.
