World Bank praises Nigeria’s social protection drive as NG-CARES funds unlock $2.2bn in state investments

The World Bank has commended Nigeria for what it described as an exceptional commitment to large-scale social protection reforms, revealing that its $750m support under the Nigeria COVID-19 Action Recovery and Economic Stimulus (NG-CARES) programme has already catalysed more than $2.2bn in state-funded investments.

The Bank’s Regional Manager for Social Protection and Labour for West and Central Africa, Robert Chase, gave the assessment during his first official visit to the Minister of Budget and Economic Planning, Senator Abubakar Bagudu, in Abuja.

Chase, who described Nigeria’s approach as “innovative, expansive, and a continental model,” said the strong national ownership of NG-CARES had been key to its success in supporting vulnerable households, small businesses, farmers and communities affected by the COVID-19 shock.

He announced that the first phase of NG-CARES will conclude this year, while additional financing – expected to take effect on December 9 – will be fully launched in January 2026. The next phase will expand cash transfers, strengthen national identification systems and broaden livelihood support programmes in line with the World Bank’s strategic partnership framework for Nigeria.

The federal government and the World Bank also renewed commitments to deepen social protection and expand economic opportunities for the poor and vulnerable.

Bagudu, expressing appreciation for the Bank’s “consistent and strategic partnership,” noted that Nigeria’s economic reforms had benefitted significantly from the institution’s technical and financial support. He welcomed the ministry’s new Permanent Secretary, Dr. Deborah Odoh, who was attending her first formal meeting with the Bank.

Bagudu emphasised that Nigeria’s constitution mandates all levels of government to pursue shared national goals – including inclusive development and social welfare – making coordination essential.

He said coherence across programmes such as NG-CARES, the Nigeria for Women Project and the HOPE Agenda was crucial, adding that functional ward-level governance systems were needed to eliminate overlap, improve targeting and enhance community participation.

Speaking on nationwide poverty levels, Bagudu noted that despite Nigerians’ hard work, economic returns remained low due to structural constraints. He stressed the urgency of scaling up livelihood support and resilience-building interventions amid rising internal displacement and multidimensional poverty.

“President Tinubu has tasked us with ensuring that ongoing reforms translate into tangible improvements in people’s lives,” he said. “Our ambition is to lift millions out of poverty by 2030 through strengthened coordination and efficient financing.”

Dr. Odoh described the World Bank as a reliable development partner whose support has been instrumental to Nigeria’s social protection and macroeconomic reforms. She welcomed Chase to Nigeria and expressed optimism that his tenure would further strengthen collaboration.

“We remain fully committed to deploying resources effectively in pursuit of a more inclusive and resilient Nigeria,” she added.