The federal government has said that the Npower batch C stream 1 beneficiaries will be moved to the NEXIT loan program of the scheme.
The Minister of Humanitarian Affairs, Disaster Management, and Social Development, Sadiya Umar Farouk said this during her weekly briefing on Wednesday.
She said an effective transition and exit management plan would be made available through the NASIMS Portal for the Batch C Npower Program, allowing beneficiaries to be moved automatically to the NEXIT Loan Program.
In her ministry’s weekly report titled “My Week in Review,” the Minister made this point clear while highlighting the role that the National Social Investment Management System (NASIMS) platform plays in carrying out the NSIP mandate.
“The Npower programme is a critical component of the FG’s National Social Investment Programme (NSIP) and supports the FG’s vision of lifting 100 Nigerians out of poverty over 10 years. The objective remains to upskill young Nigerians for employment or entrepreneurship.
“The NASIMS platform will help ensure transparency, institutional memory, and dynamic impact assessment of the N-Power cluster, Batch C, thus providing seamless interaction between the programme and beneficiaries.
“The NASIMS platform will also facilitate seamless beneficiary verification, including an efficient transition & exit management plan that will enable beneficiaries to be migrated automatically to the NEXIT Program for POSSIBLE placement & employment opportunities with FG agencies”, Farouk Stated.
The Ministry in conjunction with the Central Bank of Nigeria will provide loans in the range of N250,000 to N3,000,000 that are available through CBN Intervention Programmes like the COVID-19 Targeted Credit Facility Loan, AGSMEIS Loan, and the Nigeria Youth Investment Fund Loan Scheme.
The loan would give the exiting beneficiaries the opportunity to move forward with an entrepreneurial project that would guarantee the Npower beneficiaries a stable source of income.
The NEXIT Loan, as its name suggests, started with the Npower program’s departed Batch A and B recipients and will go on to the Batch C beneficiaries as the Ministry specifies.
