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Africa: World Bank Clears 35 Nigerian States for U.S.$1.5bn Covid-19 Incentive Package

Abuja – The World Bank has cleared 35 states for the US$1.5billion stimulus package for Nigeria’s states to bolster the economic effects of the COVID-19 pandemic.

This is part of the World Bank’s package plan for immediate fiscal relief for Nigeria, atfter discussions between its Country Director and the Economic Sustainability Committee, chaired by Vice President Yemi Osinbajo.

 To ease the lockdown on the economy

The report was presented Thursday at the virtual Ad-Hoc Committee of the National Economic Council, NEC. The meeting was presided over by the Vice president, Prof. Osinbajo, at the Presidential Villa, Abuja.

The Governor of Nassarawa State, Abdullahi Sule, briefed State House correspondents on the outcome of the meeting. He stated that 22 states signed the Grant Agreement, GA, while 13 were yet to return signed GAs.

The 22 states that signed GA were Ekiti, Gombe, Zamfara, Sokoto, Niger, Taraba, Oyo, Abia, Enugu, Plateau, Delta, Bauchi, Ebonyi, Kaduna, Kwara, Cross-River, Imo, Yobe, Ondo, Osun, Nasarawa and Benue.

16 states get N1.6 billion for COVID-19

Nassarawa governor added that of the 22 states, 16 states received N100,000,000 grant each, summing up to N1.6billion.

The states were Ekiti, Gmbe, Niger, Sokoto, Taraba, Oyo, Abia, Enugu, Zamfara, Bauchi, Ebonyi, Kaduna, Kwara, Cross-River, Imo and Delta.

The five states next in line for the grant are Plateau, Yobe, Ondo, Benue, and Osun. However, Nassarawa State is yet to communicate account details.

Sule said the ad-hoc committee’s report also had the key highlights of the ongoing four weeks guidelines of the extended 2nd Phase of the eased lockdown.

He mentioned that the task force revealed that the extension was called for. It was the result of observed lack of compliance with the prescribed measure, dangers associated with community transmission, and the need to strengthen critical areas of the response strategy for effectiveness.

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