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FG Disburses N25bn For Social Investment Scheme

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The Minister of State for Budget and National Planning, Zainab Ahmed has disclosed that the Federal Government has released N25billion for the Social Investment Programme (SIP). She also revealed that another N40billion was on the verge of being approved by the steering committee.

According to the minister, the SIP is divided into four parts for the purpose of creating jobs for the unemployed and the programme will run till 2017.

“On the Social Investment Programme, what we are doing today is to tell Nigerians that the programme is starting. We have N150 billion approval from the steering committee. So far, N25 billion has been released into the account and there is another N40 billion that is in the process of being released into the account.

“As at today, 11 states are fully ready to start and the first phase will feed 3.5 million school children.“The second is the job creation programme, which is aimed at preparing 500,000 university graduates. They will be equipped with devices containing information to train them as teachers, agricultural workers and also as health support workers.

“They will be deployed to work in their local community. They will be receiving a monthly stipend of N30, 000 monthly for a period of two years,” the minister added.Ahmed said: “The third is the Conditional Cash Transfer, CCT, where one million care givers will be given N5, 000 monthly for a period of two years.

“The focus has been given to the extremely poor and vulnerable in our society and special emphasis is being placed on the northern eastern part of the country where a lot of internally displaced persons are,” she said.

“The fourth part is the enterprise promotion where loans of up to N100, 000 would be given to 1.6million Nigerians, including market women, artisans, small business holders and traders through the Bank of Industry with a repayment period of three to six months and administration cost of five per cent.”

Ahmed also said that the school-feeding programme has started in some states like Kaduna and Osun.

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