The Federal Capital Territory Administration (FCTA) has received $15 million from the Federal Government to aid recovery from the negative impact of the COVID-19 pandemic.
Sharing this was the Permanent Secretary, Federal Capital Territory Administration (FCTA), Olusade Adesola, on Wednesday, stating that the administration sought to assist businesses affected by the pandemic.
The funds are part of the $750 million received by the government from the World Bank for an injection of cash into the economy to boost recovery.
Adesola, who was represented by the Director of the FCT Human Resources Management, Bashir Mohammed, said, “A significant reopening of the economy has been on several months, but the recovery from last year’s forced contraction and economic difficulties continues.
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“The FCTA is especially eager to support the acceleration and expansion of this recovery to help businesses regain markets, income, and confidence. The effect of the COVID-19 pandemic on the global economy arising from the global lockdown and its severe negative impact on livelihood and food cannot be overemphasised.
“As a result of this, the Federal government in collaboration with the World Bank and the Nigeria Governors Forum developed the States/FCT CARES program to cushion the effect of the pandemic, most especially on the most vulnerable segment of the Nigeria population.
“CARES is a result-oriented program to deliver the results in the following three key areas; result area one; to increased social transfers, basic services, and livelihood support to the poor and vulnerable household, under this, 42,606 individuals are expected to benefit directly, while over 180,000 people will benefit indirectly.”
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