The Federal Government of Nigeria, under the leadership of President Bola Ahmed Tinubu, has initiated steps to secure an additional $500 million financing to scale up the Nigeria Community Action for Resilience and Economic Stimulus (NG-CARES) Programme.
The funding, sought through the World Bank, is aimed at expanding the reach and impact of the NG-CARES initiative, which provides direct support to poor and vulnerable Nigerians, smallholder farmers, and small and medium-sized enterprises (SMEs) affected by economic shocks.
This move reflects President Tinubu’s continued commitment to inclusive economic growth and poverty alleviation, in line with the objectives of the Renewed Hope Agenda. By deepening grassroots interventions, the administration seeks to ensure that economic recovery is not only sustained but reaches those who need it most.
The additional financing, once secured, will enable states to implement more social protection projects, stimulate local economies, and strengthen Nigeria’s resilience to future shocks.
President Tinubu’s backing of this expansion underscores his focus on people-centered governance and sustainable development, especially at the community level.