NG-CARES
The Nigeria COVID-19 Action Recovery and Economic Stimulus (NG-CARES) is a World Bank-supported initiative designed to provide relief, recovery, and resilience support to businesses affected by the economic impact of the COVID-19 pandemic. In Sokoto State, NG-CARES is implemented through SOSMEDA, focusing on assisting micro, small, and medium enterprises (MSMEs) to regain stability, expand their operations, and contribute to economic growth.
Dr. Ahmed Aliyu – part of the idea behind providing such assistance to Business enterprises in the state is that, to step up effort towards revitalizing business activities considering the fact that some business enterprises was financially affected due to the COVID-19 pandemic.
What NG-CARES Offers
NG-CARES provides financial grants to businesses based on their size and level of need:
- ₦100,000 for Nano businesses (small-scale, informal businesses such as petty traders, artisans, and vendors).
- ₦200,000 for Micro enterprises (small businesses that have basic operational structures and employ a few workers).
- ₦500,000 for Small enterprises (businesses with a more formal structure, registered under CAC, and employing several people).
These grants are non-repayable financial support aimed at reviving businesses, improving cash flow, and supporting expansion.
Advantages of Getting NG-CARES
- Financial Assistance – Direct cash grants to stabilize and grow businesses.
- Business Recovery – Helps enterprises affected by the pandemic regain financial strength.
- Expansion Support – Enables businesses to invest in stock, equipment, and operations.
- Job Creation – Encourages employment generation and workforce retention.
- No Repayment Required – Unlike loans, NG-CARES funds are grants, meaning recipients do not need to pay back.
- Government & World Bank Support – Backed by credible institutions for sustainable implementation.
How to Access NG-CARES
Eligibility Criteria
To qualify for NG-CARES in Sokoto State, applicants must:
- Be a resident of Sokoto State.
- Own a Nano, Micro, or Small business operating within the state.
- Have been in business before COVID-19 (pre-2020) or have suffered business losses due to the pandemic.
- Provide valid business identification (such as CAC registration for small businesses, or any recognized local business identification for micro/nano enterprises).
Application Process
- Obtain and Fill Application Form – Visit SOSMEDA office at Block 2, Second Floor, Shehu Kangiwa Secretariat, Sokoto, or apply through designated online platforms (if available).
- Attach Required Documents – Business registration (if applicable), means of identification, and proof of business operation.
- Submit Application – Online or physically at SOSMEDA’s office.
- Verification and Assessment – Your application will be reviewed, and business verification may be conducted.
- Approval and Disbursement – Upon approval, funds will be disbursed directly to beneficiaries.
Frequently Asked Questions (FAQs)
