The Bayelsa State Government has confirmed the receipt of N10.8 billion as part of the N570 billion distributed by the Federal Government to all 36 states under the NG Cares program.
This funding, which is in partnership with the World Bank, is aimed at supporting social interventions, including agricultural assistance and aid for vulnerable populations.
Mr. Timipre Seipolu, the Technical Adviser to the Bayelsa Governor on Treasury, provided the confirmation on Monday while also outlining the state’s income and expenditure for May, June, and July.
He explained that the NG Cares program requires states to make expenditures on projects, such as those in agriculture through FADAMA, which are then refunded quarterly after independent verification.
“The NG Cares program is a collaboration between the states, the Federal Government, and the World Bank. The states must spend on designated areas like agriculture, and after independent verification, these expenditures are refunded,” Seipolu said.
He emphasized that the N10.8 billion received by Bayelsa was reimbursement for projects executed under the NG Cares initiative. This clarification connects to President Bola Tinubu’s recent announcement of over N570 billion released to the states to support vulnerable citizens.
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In an August 4, 2024, national address, President Tinubu announced the federal government’s release of funds as part of efforts to alleviate economic hardships during a period of nationwide protests.
However, Ogun State Governor Seyi Makinde later clarified that the N570 billion was not a grant but a loan that states must repay.
Governor Makinde explained that the funds were sourced from World Bank COVID-19 resources, with the federal government acting as an intermediary between the World Bank and the states.
He noted that the funding was tied to previous expenditures on COVID-19 relief, meaning the World Bank was reimbursing the states for money already spent during the pandemic.
This revelation underscored that the financial support was a repayment for prior commitments rather than new funds.