The Federal Government has announced the reopening of the application portal of its social investment scheme, N-Power, for fresh registration of the June 2020 Batch C intakes.
This was disclosed in a series of tweet posts by the Federal Ministry of Humanitarian Affairs, Disaster Management and Social Development on Friday, June 26, 2020.
According to the tweet posts, the N-Power 2020 recruitment portal will re-open by 11.45 pm today, Friday, 26 of June 2020. The ministry noted that those that all applications made prior to the re-opening date and time will not be recognised, but instead declared null and void.
The humanitarian affairs ministry also explained that all the processes involved in the application are free. As such, applicants do not have to pay anybody. Part of the post from the ministry said:
“Dear intending N-Power 2020 applicants. Here is how to prepare for the N-Power application. Remember Portal opens 11.45 pm, June 26, 2020, application is free. Do not pay anyone to apply on the N-Power portal. Get a printout or accurate details of your BVN.’
‘’We understand some people have attempted registration. Please note that your registration is null and void. It doesn’t’ count till the portal opens at 11.45 pm tonight.’’
Dear Intending N-Power 2020 Applicants,
Here is how to prepare for the N-Power application.
1. Portal opens 11.45pm, June 26th, 2020.
2. Application is FREE. Do NOT pay anyone to apply on the N-Power portal.
3. Get a printout or accurate details of your BVN.#NPowerNG pic.twitter.com/q9enxbvzCP
— N-Power (@npower_ng) June 25, 2020
The N-Power programme, which was inaugurated by President Muhammadu Buhari in 2016 under the National Social Investment Programme (NSIP), has the mandate of lifting citizens out of abject poverty through capacity building, investment, and direct support.
Here are some of the requirements for registration for the N-Power 2020 Batch C
- Get your BVN ready.
- Ensure you are not an existing employee in any organization.
- A printout or current details of your Bank Verification Number (BVN).
- A current passport photograph (1MB) either JPEG or PNG files.
- A valid contact email address or a working phone number
- Your degree certificate and NYSC certificate (if you are a graduate) and want to apply for N-Teach or N-Health.
- Application is done online.
It should be noted that the N-Power 2020 application portal is npower.fmhds.gov.ng.
This is how to Register for N-Power 2020 Recruitment
- Input your valid contact information (email or phone number).
- The information will be redirected to your email for a confirmation.
- Once your email address has been confirmed, you are to fill in your 11-digit BVN and date of birth in the following format (dd/mm/yy). Note that if your BVN details are inaccurate, you will not be allowed to go past this interface.
(READ MORE: COVID-19 Update in Nigeria)
- Fill in your surname, first name, and middle name in identical terms to your BVN information for your biodata and contact page.
- Kindly indicate if you have received education or not on the education and programme page. The N-Power programme is open to all, however.
- The N-Teach and N-Health sub-programmes are however open to only graduates. ii. (In addition, please note that for N-Power Health, selection preference will be given to holders of Bachelor’s Degree, HND, OND in health sciences such as Medicine, Microbiology, Nursing, Public Health, Botany, Midwifery, Psychology or other allied disciplined in the sciences). iii. Where applicable, you will be required to upload your degree certificates and NYSC certificate.
- You will be required to answer some questions and upload your Government issued Identity Card on the employment and other details page. Kindly note that the acceptable Government IDs are International Passport, National ID Card issued by NIMC, Valid Driver’s License and Permanent Voter’s Card.
- Review all the information you have inputted and then submit on the review and submit page and upon submission, you will receive a unique ID number. write it down and keep it safe.
Nigeria edges closer to getting World Bank loan, in the final stages of talk
The Finance Minister has disclosed that Nigeria has fulfilled the conditions and is in the last stages of securing a World Bank loan.
Nigeria is set to achieve its plans of getting the $1.5 billion World Bank loan package as it is in the closing stages of the deal following its fulfilment of the conditions set by the international multilateral organization.
This disclosure was made by the Minister for Finance, Budget and National Planning, Zainab Ahmed, during an interview on Friday, November 27, 2020, with Bloomberg Television.
While pointing out that Nigeria’s senate approved the borrowing plan from the World Bank in June, Ahmed said the board of the multilateral institution will discuss the loan package at their next meeting.
What you should know
It can be recalled that the World Bank loan which had been sought by Nigeria in the wake of the devastating impact of the coronavirus pandemic, was being delayed by the Brettonwood institution due to concerns over reforms as it feels that Nigeria has not shown enough commitment towards achieving them.
Some of the reforms include the unification and flexibility of the exchange rate, removal of fuel subsidy, increase in electricity tariffs amongst others.
However, it seems that with the recent deregulation of the downstream sector of the oil industry with the attendant removal of fuel subsidy and increase in electricity tariff, some of those concerns of the World Bank are gradually being sorted out.
Ahmed also said that Nigeria is considering joining the G-20 debt-relief initiative and is talking to commercial lenders to secure their backing.
She said, “We will consider joining as long as it is safe for us to do so. Nigeria couldn’t participate initially because some of the conditions were unfavourable for existing loan commitments with bilateral lenders and other international borrowings.”
On the increased gap between the official rate and parallel market rate, the minister said the government is concerned about the widening gap in the naira’s exchange rate on the official and parallel markets.
She said, “We have been taking measures to close the gap. We hope to get to an even level very soon so the impact of the exchange rate will become moderated.”
Nigeria generates N416.01 billion from Company Income Tax in Q3 2020
Total company income tax generated increased by 3.48% in Q3 2020, compared to N402.03 billion recorded in Q2 2020.
Nigeria generated the sum of N416.01 billion from Company Income Tax (CIT) in the third quarter of 2020. This was revealed in the Company Income Tax by Sectors report, recently released by the National Bureau of Statistics (NBS).
According to the report, the total CIT generated increased by 3.48% in Q3 2020, compared to N402.03 billion recorded in the previous quarter (Q2 2020). It reduced by 20.13% compared to N520.89 billion recorded in the corresponding quarter (Q3) of 2019.
- Company income tax generated year-to-date sums up to N1.11 trillion as against N1.26 trillion in the comparable period of 2019.
- Professional Services including Telecoms generated the highest amount of CIT with N55.52 billion generated, closely followed by Other Manufacturing with N42.03 billion.
- Banks & Financial Institutions generated a sum of N24.05 billion.
- Mining generated the least, closely followed by Textile and Garment Industry and Local Government Councils with N120.93 million, N167.51 million, and N321.72 million generated respectively.
Out of the total amount generated in Q3 2020, N244.70 billion was generated as CIT locally, while N70.34 billion was generated as foreign CIT payment. The balance of N100.97 billion was generated as income taxes from other payments.
Automobiles and Assemblies grows CIT by 994%
In terms of sectors with the highest increase in company income tax remittances, the Automobiles and Assemblies sector grew its CIT by 994%, from N81.6 million in Q2 2020 to N892.7 million. It was closely followed by the Gas sector, which grew its CIT by 626% to stand at N4.76 billion from N655.5 million.
On the flip side, transport and haulage services recorded the highest decline in company income tax, as it reduced by 76% to stand at N7.35 billion from N31.1 billion. This is closely followed by Banks and financial institutions, which declined by 51% to stand at N24.1 billion.
The rise in company income tax is an indication of the Nigerian government’s move to improve the generation of revenue from the fiscal side as against oil exportation. However, the halt in economic activities due to the COVID-19 pandemic contributed to the year-on-year decline in company income tax.
Bus fare paid by Nigerian commuters increased by 68.8% in October 2020
The average fare paid by Nigerian commuters for a bus journey intra-city spiked by 68.82% from N190.86 recorded in October 2019 to N322.22 in October 2020
The average fare paid by Nigerian commuters for bus journey within the city spiked by 68.82% year-on-year from N190.86 recorded in October 2019 to N322.22 in October 2020. This was contained in the transport fare watch report, released by the National Bureau of Statistics (NBS).
The Transport fare watch report for the month of October 2020 covered the following categories namely: bus journey within the city per drop constant route; bus journey intercity, state route, charge per person; air fare charge for specified routes single journey; journey by motorcycle (Okada) per drop; and waterway passenger transport.
According to the report, the average fare paid by Nigerians for a bus journey within a city also increased by 4.03% when compared to N309.73 recorded in September 2020. Meanwhile, States with the highest bus journey fare within the city were Zamfara (N585.34), Bauchi (N504.78), and Cross River (N431.04); while States with the lowest bus journey fare within the city were Abia (N192.11), Kebbi (N205.47), and Borno (N208.15).
- Average fare paid by commuters for bus journey intercity increased by 9.25% to N2,209.84 as against N2,022.7 recorded in September 2020, while it increased by 35% compared to N1,636.86 recorded in the corresponding month of 2019.
- States with the highest bus journey fare intercity were Abuja FCT (N4,376.09), Lagos (N3,073.41), and Sokoto (N3,055.12); while States with the lowest bus journey fare intercity were Bayelsa (N1,473.67), Enugu (N1,560.00), and Bauchi (N1,560.49).
- Average fare paid by commuters for journey by motorcycle per drop increased by 3.88% month-on-month and by 115.50% year-on-year to stand at N265.41 in October 2020 from N255.51 and N123.16 respectively.
- States with the highest journey fare for motorcycle per drop were Niger (N1,476.40), Kogi (N372.45), and Rivers (N352.47); while states with the lowest journey fare for motorcycle per drop were Adamawa (N78.49), Katsina (N106.20), and Kebbi (N135.75).
- In terms of air travel, the average fare paid by passengers for specified routes single journey decreased by -1.70% when compared to N36,884.59 recorded in September 2020. It however increased by 18.42% (year-on-year) to stand at N36,256.08 as against N30,615.43 recorded in October 2019.
- States with the highest air fare were Anambra (N38,500.00), Cross River (N38,460.00), Jigawa (N38,250.00); while States with the lowest air fare were Akwa Ibom (N32,750.00), Sokoto (N33,250.00), and Gombe (N34,800.00).
What you should know
Nairametrics reported in October that the average fare paid by commuters for a journey by motorcycle per drop, more than doubled in September 2020 when compared to the corresponding month in 2019, increasing by 111.11% to stand at N255.51 in the month.
The persistent increase in the prices of transport fares across the country is a resultant effect of the Covid-19 pandemic, which necessitated drivers and transporters to reduce the number of commuters they carry at a time.
This is in line with the health measures implemented by the Federal government to help curb the spread of the corona virus in the country.
Explore Data on the Nairametrics Research Website