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Buhari Budgets N420 Billion for Npower, Other Social Investment Programmes in 2021 Budget

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Muhammadu Buhari

FG Allocates N420 Billion for Npower, Other Social Investment Programmes in 2021 Budget

President Muhammadu Buhari has budgeted N420 billion for the National Social Investment Programmes (NSIP) in the 2021 budget.

The President disclosed this during the presentation of the 2021 Appropriation Bill on Thursday at a joint session of the National Assembly.

Buhari said, “In furtherance of our inclusiveness agenda, the sum of N420 billion has been provided to sustain the Social Investment Programmes, while N20 billion has also been set aside for the family homes and our Social Housing Programme.

Npower is a scheme set up by President Buhari to engage Nigerian youth in an effort to reduce the nation’s rising unemployment rate while the Government Empowerment and Enterprise Programme (GEEP) was set up to empower exited Npower beneficiaries with a zero-interest loan.

The Federal Government through the GEEP disbursed N15.2 billion loans to 300,000 exited beneficiaries.

Presently, Npower exited beneficiaries of Batch A and Batch are still waiting for the Federal Government to perfect its plans on more permanent job opportunities in the private sector and government parastatals.

While few others that exited the programme have said they have not been paid either due to error or the usual Nigerian embezzlement.

However, Minister of Humanitarian Affairs, Disaster Management and Social Development, Sadiya Umar-Farouq, said unpaid Npower exited beneficiaries of Batches A and B should approach their state focal persons for revalidation and fresh verification.

She said, “Beneficiaries are hereby directed to report to their State Focal Persons immediately with their bank account details, including bank statements from March 2020 to date, NYSC Discharge Certificates, birth certificates and other related screening documents.”

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.