The Presidency has
said one million poor, and vulnerable Nigerians, spread across nine states,
will receive N5, 000 monthly in its Conditional Cash Transfer (CCT) and the
micro-credit schemes.
The presidency
disclosed that data of beneficiaries are now ready.
The payment
processes for those states are at top gear, Senior Special Assistant on Media
and Publicity to the Vice President, Laolu Akande, said in a statement,
yesterday.
Akande said
significant progress in the implementation of the Social Investment Programmes
of the President Muhammadu Buhari’s administration started with the
commencement of the N-Power Volunteers Corps (NPVC), where 200,000 of the first
batch of 500, 000 unemployed graduates being engaged to serve in their
communities teaching, supporting the healthcare systems and educating farmers;
as well as the Homegrown School Feeding Programme which has taken off
successfully in Anambra, Osun and Kaduna states.
Speaking on the
micro- credit scheme, Akande said over one million Nigerians would get small
loans, at very low rates through the Bank of Industry (BOl), adding that close
to 10,000 market associations and cooperatives have been registered and
undergoing a vetting process for that purpose.
“The loans, ranging
from N20,000, N50,000 to N100,000 would be granted with the active
collaboration of such associations and cooperative across country.
“The pilot scheme
will take off soon in eight states and the Federal Capital Territory.
As is the case in
all social investment spending of the federal government, payment of the loans
would go directly to the accounts of beneficiaries,
“Clearly, we can see
that despite considerable constraints government has
faced this year, in
revenue projections, Buhari’s presidency has remained faithful to its promises
on social investment plans, with the full assurance that these programmes would
seamlessly dovetail into the next budget cycle.”
Akande further
disclosed that Focal Persons have been appointed by each state Government, to
co-ordinate with Federal Government on
the Social Investment Programmes and verification exercise have been carried
out with challenges reported back to the presidency.
“We are in touch
with the focal persons and top officials here in the presidency are working
round the clock with them to address issues developing from the states as they
verify the 200,000 unemployed graduates.”
Source: Daily Sun
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