N-Power: Federal government Makes Fresh Announcement in Favour of 300,000 Beneficiaries

N-Power: Federal government Makes Fresh Announcement in Favour of 300,000 Beneficiaries

  • No fewer than 300,000 youths who exited the N-Power programme will enjoy loan facilities from the Central Bank of Nigeria (CBN)
  • The applicants are expected to be trained on different skills of their choice as part of an exit programme by the government in partnership with the apex bank
  • This disclosure was made by Sadiya Farouq, the minister of humanitarian affairs, disaster and social development

Presidential Villa, Abuja - The Nigerian government on Thursday, February 17, said that about 300,000 N-Power beneficiaries who exited the programme will enjoy loan facilities from the Central Bank of Nigeria (CBN).

The Nation reports that this is after the applicants will be given loans for them to start their businesses after attending a vocational training.

N-Power
The federal government says 300,000 N-Power exited beneficiaries will receive loan facilities from CBN. Photo credit: Min of Humanitarian Affairs
Source: Facebook

Hajiya Sadiya Farouq, the minister of humanitarian affairs, diasater management and social development made the announcementduring the weekly ministerial briefing organised by the presidential media team, Vanguard added.

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According to her, the initiative is exit strategy where applicants can be trained on different skills will be given loans by the CBN to start their businesses.

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She said:

“Yes, we have an exit strategy, which we partner with the Central Bank of Nigeria. And out of this 500,000, about 300,000 indicated interest to be put on an exit programme where you can be trained on different skills, skills of their choice and they will be given loans by the Central Bank of Nigeria, for them to start their businesses."

Buhari increases N-Power beneficiaries from 500,000 to 1,000,000

Legit.ng previously reported that President Muhammadu Buhari had directed an increase in the number of N-Power beneficiaries in order to reduce the unemployment level in Nigeria.

The Nigerian leader on Friday, October 1, 2021 increased the number of beneficiaries from 500, 000 to 1,000,000.

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Buhari said he is committed to lifting 100m Nigerians out of poverty in 10 years.

FG finally shortlists 550,000 N-Power applicants

In a related development, the Nigerian government had shortlisted about 550,000 applicants out of 1.8 million Batch C applicants for the final stage of the N-Power programme.

The minister said that the short-listed applicants are being individually contacted through the e-mail addresses provided by them.

She said the applicants were requested to update their personal information and subsequently, take an online test via the National Social Investment Management System (NASIMS) portal.

Source: Legit.ng

Authors:
Oluwatobi Bolashodun avatar

Oluwatobi Bolashodun Oluwatobi Bolashodun is a journalist with six years of working experience in the media industry. She graduated from Babcock University with a Bachelor’s Degree in Mass Communication. Oluwatobi is a former Legit.ng Current Affairs Editor, mostly writing on political, educational, and business topics.

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