FG and CBN set to finance 75,600 N-power beneficiaries


The Federal Government in collaboration with the Central Bank of Nigeria (CBN), has concluded plans to give financial empowerment to 75,600 batches A and B beneficiaries of N-Power programme.

The Minister of Humanitarian Affairs, Disaster Management and Social Development, Hajia Sadiya Farouq, said this at the inauguration of the NEXIT-CBN Agri-Business, Small and Medium Enterprises Scheme (AGSMEIS) on Monday, in Abuja.

AGSMEIS is an initiative of the Bankers’ Committee, to support and complement the Federal Governments’ efforts at promoting Agri-businesses/Small and Medium Enterprises as a vehicle for sustainable economic development and employment generation.

The News Agency of Nigeria (NAN), reports that the event is designed to train beneficiaries, as part of strategy by the Federal Government to ensure that they actualise the objectives of N-Power initiative.

NAN also reports that the 75, 600 beneficiaries are the first batch of the N-Power, out of 467,183 who applied for the training.

Farouq, who was represented by the Permanent Secretary in the ministry, Mr Bashir Alkali, said N-Power programme was a critical part of the National Social Investment Programmes domiciled in the ministry.

According to her, the initiative was designed to achieve the national objectives of poverty reduction and job creation in the country.