The Nigerian government has officially requested an extension from the World Bank for the deadline of a significant $500 million loan initially designated for COVID-19 response efforts.
“The Federal Government of Nigeria has formally requested for the extension of the closing date of the Nigeria COVID-19 Preparedness and Response Project (NCPRP) from the current closing date of February 29, 2024, to June 30, 2024,” the government stated in a letter referenced F11373/S.34/C/4028/VOL.1/126, dated October 27, 2023.
“The request is premised on the fact that the progress recorded under the project implementation has been quite satisfactory, but there is still the need for additional time beyond the closing date of February 29, 2024, to conclude the project,” the letter added.
The request seeks a four-month extension to accommodate the comprehensive wrap-up of project activities and ensure an orderly conclusion. The World Bank document notes: “A four-month extension of the project closing date and associated credits from February 29, 2024, to June 30, 2024, is proposed to allow sufficient time to round up implementation and properly close the project.”
Initiated with the World Bank Board of Executive Directors’ approval on August 6, 2020, and effective from March 15, 2021, the Nigeria COVID-19 Preparedness and Response Project aimed to strengthen the country’s capacity to prevent, detect, and respond to the COVID-19 threat at the state level.
the World Bank document noted Nigeria’s COVID-19 Preparedness and Response Project has made satisfactory progress since effectiveness, particularly the vaccination component, which has exceeded the ambitious target of 70% coverage among the eligible population.
Funded through an International Development Association credit of approximately $100 million and a Pandemic Emergency Financing facility grant of $14.28 million, the project sought to enhance Nigeria’s strategic and operational readiness against the pandemic.
An additional $400 million was later approved to support the acquisition and deployment of COVID-19 vaccines, emphasizing the project’s dual focus on emergency response and sustained management, coordination, and monitoring of the evolving situation.
“The Nigeria COVID-19 Preparedness and Response Project has delivered on the objective of strengthening the country’s capacity to respond to the COVID-19 pandemic,” the World Bank document stated.
Despite existing challenges, the project has achieved notable successes, including the effective management of confirmed COVID-19 cases and fatalities across the country. Both procurement and financial management aspects of the project have been operating effectively, with moderate risk levels and satisfactory overall implementation progress.
The Nigerian government’s request for an extension underscores its ongoing commitment to utilizing the funds effectively for pandemic preparedness and response, acknowledging the need for additional time to conclude the project successfully.
