The Nigerian government spends more than N400 billion on the National Social Investment Programmes (NSIPs) – which includes the N-Power scheme – perennially, stated the Secretary to the Government of the Federation (SGF), Boss Mustapha.
Mustapha made this known through the Minister of Youth and Sports Development, Sunday Dare, at the inauguration of the Government Enterprise Empowerment Programmes (GEEP 2.0), in Abuja.
The NSIP scheme was created by the incumbent administration to reduce the level of youth unemployment in the country.
Mustapha said, “We have a president who is readily committed to the eradication of poverty as a way to accelerate Nigeria’s development,” describing NSIP as the “single largest programme in sub-Saharan Africa.”
He added, “This administration commits on a yearly basis over 400 billion naira to these people-oriented initiatives, this clearly attests to the commitment of the president that has never been witnessed before in this country.
“The initiative and policies also cater for various sectors of the society, the youth, women, vulnerable and others.”
Also speaking on the initiaive, the Minister of Humanitarian Affairs, Disaster Management and Social Development, Sadiya Umar Farouq, said that loans had been made available to smallholder farmers through its GEEP programme.
She said, “With Mr. President’s gracious approval to expand to provide loans to an additional 1,000,000 beneficiaries, with emphasis to targeting smallholder farmers in the year 2020/2021, the GEEP has been restructured and is being flagged-off today as GEEP 2.0.
“Part of the new strategies to better the scheme were the increase in the loan portfolio of traderMon/ and Market Moni loans from N10,000.00 to N50,000.00, while the FarmerMoni is now N300,000 along with the provision of the value chain and creation of digital marketplace (E-platform) for beneficiaries to sell their products.
“Furthermore, a digital integration, and coordination platform along with a strong and centralized monitoring and evaluation system aimed at enhancing loans recovery.
“The NSIP and by extension, the GEEP currently remain the main driving force behind the poverty reduction in Nigeria.
“GEEP 2.0 is structured to effectively deliver soft loans and skills to a wide range of unemployed citizens including persons living with disability, marginalized women and unemployed youth amongst other vulnerable groups in our society.
“Other key features of GEEP 2.0 includes empowering Nigerian farmers especially the rural farmers;
“Rapid scale-up of Farmer Moni to agro- entrepreneurship to increase agricultural produce, food security, and job creation;
“Market Moni will especially focus on the underprivileged and marginalized woman in the communities:
“The Trader Moni will target empowerment and uplifting underprivileged and vulnerable youth that scavengers, market wheelbarrow boys, orphans and youth with special needs;
“Have a nationwide reach which intends to empower farmers in the rural area irrespective of gender, race or religion across all the 36 states of Nigeria; and
“It is anticipated also to reduce unemployment by the creation of skilled jobs for the underprivileged in our society.”