Federal Government has inaugurated Federal Steering Committee and Federal Technical Committee of the Nigeria COVID-19 Action Recovery for Economic Stimulus (N-CARES).
The Minister of Finance, Budget and National Planning, Hajia Zainab Ahmed, while inaugurating the committees on Friday in Abuja, the nation’s capital, urged members to ensure that post-COVID-19 was not injurious to Nigerians and the economy.
Hajia Ahmed said that diverse and severe impacts of the pandemic were being felt across the world with significant consequences on informal businesses, households and farmers who depended on their farm produce to survive.
She also said that the implementation of the N-CARES was in line with the Federal Government priorities as outlined in the Economic Sustainability Plan, ESP.
The Federal Steering Committee is made up of ministers, permanent secretaries, while the technical committee comprised directors of key MDAs.
She said that members of the committees were selected in line with the role their MDAs played in the recovery of the Nigerian economy as well as the fulfilment of lifting 100 million people out of poverty.
According to her, the major role of the steering committee was to provide overall policy direction for the implementation of the programme and advise the president appropriately.
On his part, the Minister of State, Ministry of Finance, Budget and National Planning, Mr Clement Agba, said that the N-CARES programme was a multi-sectoral programme designed to provide emergency relief to the vulnerable and poor Nigerians.
According to him, including smallholder farmers and SMEs that were adversely affected by the Covid-19 pandemic using a World Bank loan of N750 million over a period of two years (2021 – 2022).
In his remarks, an Executive Director with the Nigeria Governors’ Forum (NGF), Dr Lateef Shittu, said that N-CARES Programme was to bring succour to the citizenry at this difficult period.
Dr Shittu said that as key stakeholders in the Nigeria agenda, the NGF and all state governors applauded the programme.
He said that the forum would support peer learning and experience sharing in a bid to distil best practises across the 36 states of the federation in the implementation of the programme.
He also commended the World Bank for the N-CARES programme, expressing belief that it would reflate the economy and deepen governance.