Last Updated on September 23, 2021 by Ope Quadri
The issue of training of exited N-Power beneficiaries has dragged for too long and this time, the Ministry of Humanitarian Affairs, Disaster Management, and Social Development promised that the empowerment of the former batches A and B would commence in October 2021.
To show its readiness to get to work, the ministry said 390,000 out of the 500,000 have been shown interest to take part in the NEXIT training and credit facility that would be provided for them.
“We are working with the CBN to support them with soft loans and out of the 500,000 exited N Power beneficiaries, about 390,000 of them have successfully been accommodated into the NEXIT programme while about 109,000 are already on their way to entrepreneurship on their own even before we started the NEXIT.”
We told you in January that at least 200, 000 former N-Power workers would be signed up as CBN-certified SANEF agents.
SANEF means Shared Agent Network Expansion Facilities, CBN financial inclusion project aimed at driving financial inclusiveness among Nigerians
How It Will Be Executed
NEXIT which was specifically created for the exited beneficiaries in 2020 will partner with the Central Bank of Nigeria (CBN) to have access to several empowerment options that have been created by the apex bank.
In 2020, it was rumoured that the CBN in partnership with N-Power was planning N800,000 loan for the exited beneficiaries, but the ministry couldn’t confirm such a report.
Speaking on the commencement of the training for exited N-Power beneficiaries at Chatham House in London, the minister, Sadiya Farouq, promised that the training would commence next month.
She was speaking on the social development and humanitarian challenges facing Nigeria, and the government’s responses to the ongoing humanitarian and food crises in Nigeria.
She said, “The exited volunteers have been put on a programme with the Central Bank of Nigeria in partnership with the ministry to prepare an exit package for them and we have gone very far in this regard.”
For over a year, we hope that it won’t be another promise that would take another 365 days to implement.
Ope is the co-founder of InfomediaNG. He’s a researcher whose interests cut across real estate investment, stocks, financial technology, and youth empowerment. He’s awesome in Content Marketing and SEO. Favourite Tools: Google Analytics, Canva, RankMath, UberSuggest