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Found 4 results

  1. In today’s latest Npower news – Nexit update – According to the information reaching us, Volunteers will have to wait for a little longer as FG Sources Fund for Nexit Programme to begin. Disengaged volunteers of the Npower programme will have no other choice but to wait a little longer as the Federal Government sources for Funds to finance the Nexit package. This may also interest you HM Sadiya Farouq Week In Review – 24th May 2021 This was disclosed on Good Morning Nigeria on NTA international, it was clearly stated that FG is massively sourcing funds, to finance the Nexit CBN loan package for all interested volunteers. Npower Batch C is already captured in 2021 main budged but the funds for Nexit is in the supplementary budget, which will be financed by the external borrowing. FG Seeks $6.183billion (N2, 343,387, 942,848.00) to finance the 2021 budget deficit. The Npower disengaged volunteers and the incoming batch c will smile soon as the Federal Government intensify the effort to boost social spending to reduce unemployment and reduce poverty. The budget deficit mostly encompasses the FG’s wealth creation and poverty elevation programme, if the fund is mobilized, more of these programmes would surface. You may want to also check Npower News – Why You Should Partake In The MindtheGap Training The over 350,000 Survival fund beneficiaries, the 1,000,000 Npower Batch C applicants, the Nigeria Youth Investment Youth Programme, AGSMEIS programme and many others FG programmes would be more lively when the external loan is secured. “President Muhammadu Buhari, on Tuesday, urged the Senate to approve a new external loan of N2, 343,387, 942,848.00, about $6.183billion, for the Federal Government to finance the 2021 budget deficit. Senate President Ahmad Lawan read Buhari’s letter of request on the floor of the Senate at plenary” Apparently, the Federal Government is seeking for funds, to execute the Nexit loan. This may also interest you 3 Things To Do While Waiting For Nexit Loan Disbursement
  2. National Assembly is proposing bill seeking to prohibit the payment of ransom for the release of any citizen kidnapped. The bill titled; “The bill titled Terrorism Prevention (Amendment) Bill, 2021” passed the second reading on Wednesday May 19 after it was sponsored by Senator Ezenwa Francis Onyewuchi. If passed in to law, there will be a 15-year jail sentence for anyone found guilty of paying ransom for any one kidnapped. Senator Onyewuchi said; “Anyone who transfers funds, makes payment or colludes with an abductor, kidnapper or terrorist to receive any ransom for the release of any person who has been wrongfully confined, imprisoned or kidnapped is guilty of a felony and is liable on conviction to a term of imprisonment of not less than 15 years.” “Kidnapping is on the increase in Nigeria and it is prevalent across all the geopolitical zones. Some blame the rise of this criminal activity on poverty, religion, politics, deficiency of existing laws, unemployment, connivance of security agents, corruption, and greed among others. “Our unemployed youths are also turning out to kidnapping to get money (ransom) as a survival strategy. “Whatever the reason, it is most obvious that kidnapping in Nigeria puts everyone at risk, the rich and the poor, old and young, male and female, foreigner or indigene, expatriate or non-expatriate, traditional rulers and religious leaders, among others” He also noted that countries like USA and UK don’t support payment of ransoms to kidnappers. He added; “Payments of terrorist ransoms is illegal under the UK Terrorism Act 2000 while the USA adheres to a strict No-Concessions policy on the payment of ransom. “The continuous payment of ransom must not be encouraged, in addition government should provide adequate security and strengthen the economy as a matter of urgency, accelerate its poverty alleviation programs, provide employment opportunities targeting youths who are mostly involved in abductions and kidnappings, strengthen our law enforcement agencies, and provide the necessary support to end the menace of kidnapping.”
  3. The Federal Government has, Wednesday, commenced massive payment of the COVID-19 relief grants to thousands of verified applicants of Payroll Supports Track of the N75 Billion MSME Survival Fund Scheme. Many of the 2020 and 2021 applicants of the Payroll Supports Track have confirmed to have received 3 months alerts of N30,000 to N50,000 today as joy fills the atmosphere after many months of waiting. In the recent event that steered tension in Nigeria, the applicants had protest the delay in the disbursement of the grant while utilizing the Twitter Channel, alleging that the Project Delivery Office may have diverted the fund earmarked for the Scheme by the Federal Government. The Project Delivery Office of the N75 Billion MSME Survival Fund however appealed to Nigerians to exercise some patience as payments were being processed, assuring that all verified applicants of the Payroll Supports Track would be paid in no distant time. Before the commencement of the current payment, the PDO had in an update stated that 319,755 MSME Employees have been paid under the Payroll Supports Track out of the proposed 500,000 MSME Employees to receive a 3 month N30,000 - N50,000 Salary Supports under the Track. The PDO added that 265,425 Nigerians have been paid the N30,000 Artisan/Transport Grant out of the proposed 333,000 Nigerians to benefit under the track. The MSME Survival Funds Scheme initiated by the President Mohammadu Buhari led administration is one the several Schemes the Govermnent has employed to reduce impact of the COVID-19 Pandemic on Micro, Small and Medium Enterprises (MSMEs) through the National Economic Sustainability Plan (NESP).
  4. Many funding programmes have been established. Survival fund was recently out on the 21 of September. Youth Investment find was recently approved too. So, we decided to create this post to share more light on funds. The National Youth Investment Fund (NYIF) and the MSME Survival Fund Scheme are funding programme established by President Buhari Administration. And as such, Mr President have advised Nigeria youths and Business owners to take advantage of this opportunities. The NYIF is a loan for Nigeria youth age 18 to 35 while the Survival fund is grant to MSME. The 75 billion Naira Nigerian Youth Investment Fund (NYIF) is to serve as a sort of Youth Bank that will fund and support innovative ideas. skills. talents and enterprise of the Nigerian Youth; a loan and credit pathway dedicated to enabling access to credit and soft loans. This is the very first of its kind by any Nigerian government. The MSME Survival Fund scheme is a conditional grant to support vulnerable micro and small enterprises in meeting their payroll obligations and safeguard Jobs in the MSMEs sector. The scheme is estimated to save not less than 103 million jobs across the country and specifically impact on over 35.000 individuals oer state. The Survival Fund schemes are at the core of the N23 trillion stimulus package (also known as the Nigerian Economic Sustainability Plan, NESP) being implemented by the Buhari administration to help cushion the impact of the COVID19 pandemic with a view to boosting the economy by saving existing Jobs and creating new job opportunities. Registration is currently ongoing for the Survival Fund. To Know about the Survival fund and how to apply CLICK HERE
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