N-Power beneficiaries seem to have been given the back seat since the establishment of the Survival Fund and are in the dark of what will happen next as the government keeps mute on its plan for the beneficiaries.
According to the National Social Investment Office (NSIO), an estimated 500,000 graduate volunteers were enrolled in N-Teach, N-Tax, N-Health, and N-Agro as of July 2020.
Although, the National Social Investment Programmes (NSIPs) had said that NGN400 billion will be spent on N-Power, TraderMoni, and other programmes in 2021 by the Buhari administration, one wonders what percentage of the fund is for N-Power.
Curiously, it seems Survival Fund beneficiaries are the preferred option for payment as over 100,000 selected beneficiaries have been paid from the Survival Fund program.
The Survival Fund platform is home to Micro and Small businesses struggling financially. The beneficiaries were drawn from various businesses listed on the Survival Fund which was created to financially support individuals affected by the downturn of the economy due to the COVID-19 pandemic.
These businesses are drawn from various sectors, including education and hospitality, with an average of 35,000 individuals per state. Out of the beneficiaries, 101,567 persons from 16,253 businesses have been paid.
This was revealed by President Muhammadu Buhari who tweeted saying: “I am pleased to announce that 101,567 beneficiaries drawn from 16,253 businesses today received their first monthly payment from our Payroll Support Program. The program is a @SurvivalFund_ng Covid-relief initiative to support qualifying MSMEs with staff salaries for 3 months.”
What Can N-Power Beneficiaries Do?
Get a Loan
There are several quick loan opportunities for N-Power beneficiaries looking for financial support. N-Power beneficiaries can obtain a loan within five minutes through their phone without having to provide any collateral or fill paperworks.
Some loaning platforms includes:
Eyowo: This offers credit applicants interest-free loans, and also doesn’t demand for collateral.
Quick Check: This loan app is good for emergency funds when family or friends are not available to help.
Fairmoney: This is another loan app that gives loan seekers funding ranging from NGN1,500 to NGN500,000. The interest rate is tied to the amount demanded by the loan applicant.
GoCash: This is a loan app that promises low interest rate as one can borrow as much as NGN300,000 from their mobile phone without having to visit any office or submit paperwork.
Alat: This is Wema Bank’s quick loan initiative, where the bank offer loan seekers credit to make purchases. Despite being a Wema Bank loan platform, you don’t have to visit the bank to apply or obtain loan – all that is need is register on the Alat app.
Learn A Trade
N-Power beneficiaries can simply learn a trade or develop the skills they possess in order to monetize it.
Skill such as:
Production of drinks and snacks such as Kunu, Zobo, etc.
N-Power beneficiaries should resist the urge to stay at home. Pending getting a job, they can volunteer their services at centers or NGOs which requires help.
Volunteering increases your contacts bank and adds some credence to your work experience.