The Bauchi state government lauded the Federal Government and the World Bank on COVID-19 Action Recovery Economic Stimulus (NG-CARES) to provide succor for Micro, Small and Medium Enterprises (MSMEs) impacted by the pandemic in the state.
Our reports that the Federal Government in collaboration with the World Bank initiated the Nigeria COVID-19 Action Recovery and Economic Stimulus (NG-CARES) programme will enable each state to earn at least $20 million within a space of 2 years.
Mr Ibrahim Kashim, Secretary to the state government (SSG) made the commendation at a one-day sensitization and advocacy on the Nigeria COVID-19 Action Recovery and Economic Stimulus NG-CARES Result Area 3 on Thursday in Bauchi.
He appreciated the Federal Government and the World Bank for the intervention and for working with state governments in the country towards cushioning the socio-economic effects of COVID-19 pandemic on the people, particularly the poor and vulnerable.
The SSG reiterated the commitment of the administration of Governor Bala Mohammed to bring more developmental programmes geared at improving the livelihood of citizens thereby boosting economic activities in the state.
He urged the steering committee charged with the implementation of Bauchi-CARES to be faithful in executing the mandate so that the desired results are achieved, bearing in mind that it is a Programme for Result orientation.
Earlier, Hajiya Sa’adatu Kirfi, the State commissioner for cooperative and SMEs Development and member of the steering committee said the main focus of the programme was to bring succor to residents in the state whose means of livelihood had been disrupted by the impacts of COVID-19.
She said that the programme is hinged on three thematic areas, ranging from supporting poor and vulnerable households with grants and basic services, to farmers with farm inputs to increase food production
“Facilitate smooth functioning of the food supply chain, and grants to MSMES to support post COVID-19 loans, operational costs and to enhance their IT capabilities,” she said
In his remark, Toyin Adeniji,
Executive Director, Micro Enterprises, Bank of Industry (BoI) represented by Mr Hayatudeen Umar, Project Officer, BOI, Bauchi State Office said the timing of the CARES program could not be more apt.
“With the huge losses reported by businesses in this segment, there is an urgent need to provide support for households and MSMEs across Nigeria to help them.
“Recover from the negative effects of the COVID-19 pandemic and also enhance their business capabilities. We have seen various studies emphasizing the important role MSMEs play in a Nation’s Development.
“At the Bank of Industry, we continue to demonstrate our commitment to develop and empower MSMEs,” he said