CBN Set To Finance 75,600 NPower Beneficiaries

CBN is set to finance 75,600 NPower Beneficiaries.

 

 

Newsonline reports that the Federal Government in collaboration with the Central Bank of Nigeria, CBN, has concluded plans to give financial empowerment to 75,600 batches A and B beneficiaries of the N-Power programme.

 

 

The Minister of Humanitarian Affairs, Disaster Management and Social Development, Sadiya Farouq, said this at the inauguration of the NEXIT-CBN Agri-Business, Small and Medium Enterprises Scheme, AGSMEIS, on Monday, in Abuja.

AGSMEIS is an initiative of the Bankers’ Committee, to support and complement the Federal Governments’ efforts at promoting Agri-businesses/Small and Medium Enterprises as a vehicle for sustainable economic development and employment generation.

 

The event is designed to train beneficiaries, as part of strategy by the Federal Government to ensure that they actualise the objectives of N-Power initiative.

The 75, 600 beneficiaries are the first batch of the N-Power, out of 467,183 who applied for the training.

Mrs Farouq, who was represented by the Permanent Secretary in the ministry, Mr Bashir Alkali, said N-Power programme was a critical part of the National Social Investment Programmes domiciled in the ministry.

According to her, the initiative was designed to achieve the national objectives of poverty reduction and job creation in the country.

 

“The N-Power programme is keys to helping young Nigerians acquire and develop life-long skills that ensure they become solution providers and entrepreneurs in their communities.

 

“Recently, more segments have been embedded into the N-Power programme such as the N-Skills, which is for youth with no formal education who will be trained in different vocational skills and trades.

“The Mobile Money Agents, which are for financial inclusion of this youth segment is another great feat in the programme,” she said.

The minister said that it had been her desire that the exited batches A and B N-Power graduate beneficiaries would not be left unattended to in the new arrangement.

“Today marks the beginning of the fulfilment of this awaited training that will enable those beneficiaries that indicated interest to participate in the CBN empowerment programme,” she said.

According to her, other batches will have their turn of the training.

Earlier, the permanent secretary, who was represented by Raphel Obi, a director in the ministry, said the training was carried out across the 36 states and the Federal Capital Territory, FCT.

“As we all know, N-Power programme is an all-inclusive programme that focuses primarily on unemployed Nigerian youth with the aim of developing their employability and entrepreneurial skills.

“The NEXIT training programme is a well thought out collaboration between the FMHADMSD and the Central Bank of Nigeria.

 

“This is to ensure that the exited batches in the programme make useful ventures through the entrepreneurial training designed for this purpose.

 

“This is so that they can tap into the opportunities that are available for them,” he said.

He advised the participants to maintain the highest level of seriousness in all that they were taught throughout the training programme and thereafter.

Speaking, Samuel Daniel, one of the beneficiaries, lauded the Federal Government for the engagement of youths through the N-power initiative.

Mr Daniel, however, used the medium to appeal to the government for more initiative to engage other youths who are yet to get opportunities.