N-Power training: 75,600 first batch of exited beneficiaries to get CBN loan

Ilesanmi AdekanbiMarch 9, 2022

1 minute read

The Ministry of Humanitarian Affairs, Disaster Management, and Social Development, Sadiya Farouq, has announced that about 75,600 first batch of exited N-Power beneficiaries will be given loans to pursue their entrepreneurship career after the NEXIT training.

The loan is sponsored by the Central Bank of Nigeria (CBN), which is scheduled for the NEXIT training next week.

The minister said the loan will first be made available to 75,600 exited N-power beneficiaries.

On Wednesday, via her Twitter page, Nneka Ikem, the Special Assistant, Media and Publicity to the Minister said the training of the first batch of 75,600 exited beneficiaries from the 36 states and the FCT is proposed to be flagged off next week in Abuja for the five-day entrepreneurial training, which thereafter, qualifies them for loans.

Newsflash Nigeria had earlier reported that only 230,000 exited N-power beneficiaries will benefit from the March training which is reportedly expected to provide material and financial assistance for their preferred business.

This means 154,400 exited N-power beneficiaries will have to wait for the next batch.

Ikem, however, didn’t reveal the value of the loan each beneficiary will qualify for, “Training of the first batch of 75,600 @npower_ng exited Beneficiaries from the 36 states and the FCT is proposed to be flagged off next week in Abuja for the five-day entrepreneurial training, which thereafter, qualifies them for loans.” She wrote on Twitter.

Training of the first batch of 75,600 @npower_ng exited Beneficiaries from the 36 states and the FCT is proposed to be flagged off next week in Abuja for the five-day entrepreneurial training, which thereafter, qualifies them for loans. pic.twitter.com/HHX7Cj7qRZ

— Nneka Ikem (@nnekaikem1) March 8, 2022

The training is expected to educate the participants on entrepreneurship after the exited N-Power beneficiaries complained of being abandoned by the government following their exit from the social intervention programme in 2020.

Recall that there are about 500,000 exited N-Power beneficiaries across Batch A and B.

The Batch A beneficiaries were initially drafted into the N-Power programme in 2016, while Batch B came in 2017 before both batches exited simultaneously in 2020.