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Markurdi, Nigeria (NAN)- President Bola Tinubu has approved the allocation of N32.7 billion for the execution of the National Social Investment Programme (NSIP).
The Minister of Humanitarian Affairs and Poverty Alleviation, Nentawe Yilwata, made this announcement during the launch of the state action plan for durable solutions for internally displaced persons (IDPs) on Friday in Makurdi.
He stated that this approval aligns with the president’s Renewed Hope Agenda, which focuses on prioritizing the most vulnerable populations in the nation.
The funds will be utilized to provide non-collateral and non-interest loans to vulnerable groups, particularly targeting youth and women.
Yilwata emphasized the importance of forming cooperatives to access these funds, stating, “We will provide between N300,000 and N400,000 as household loans. For instance, if you have a cooperative of 20 members, that means you could receive N300,000 multiplied by 20, totaling six million naira.”
He also mentioned the N-Power initiative, which the President has instructed to be reformed for greater productivity. The goal is to connect the youth not only through training but also to the market and private sector opportunities. To facilitate this, the President has acquired over 100,000 items aimed at empowering more than 100,000 youths nationwide.
Additionally, Yilwata noted that the president has approved and is actively implementing a conditional cash transfer program on a large scale.
He indicated that 70 million Nigerians are expected to benefit from this initiative, with at least 15 million households anticipated to participate.
“Four to five individuals from each of the 15 million households will receive a N75,000 cash transfer, which will be distributed in three installments,” he explained.
