Nigeria has received an additional $500 million from the World Bank to support the ongoing NG-CARES programme. This funding is aimed at strengthening social safety nets and providing relief to vulnerable households across the country. The World Bank’s contribution is part of efforts to boost economic resilience amid ongoing challenges.

The Minister of Finance highlighted that the funds would help improve living conditions for Nigerians, particularly in low-income communities. The NG-CARES programme, which focuses on social protection, has been instrumental in delivering cash transfers and essential services to those in need.

Officials noted that the additional funding will allow the programme to expand its coverage and reach more households. The World Bank reaffirmed its commitment to Nigeria’s development, emphasizing transparency and accountability in the utilisation of the funds.

Experts say this funding boost will support poverty alleviation and strengthen economic stability. The government has pledged to ensure the resources are effectively managed to achieve maximum impact for Nigerians.