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Business

Buhari earmarks N420 billion for N-Power, GEEP and others under NSIP in 2021 budget

Fund to provide necessary buffers and shield to millions of Nigerians.

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NASENI, Public holidays, President Buhari to scrap NNPC, PPPRA as he submits new PIB to National Assembly, Buhari says there is no provision for fuel subsidy in revised 2020 budget, President Muhammadu Buhari to address Nigerians on Monday, receives update and recommendations from PTF, President Buhari earmarks N420 billion for N-Power, GEEP and others under NSIP in 2021, Buhari approves the appointment of Dr Orji as the new boss of NEITI

The President of Nigeria has disclosed that the National Social Investment Programmes (NSIP) will be funded with N420 billion in 2021, while the National Social Housing Programme (NISH) will be funded with N20 billion from the 2021 budget.

This was disclosed by President Muhammadu Buhari at a joint session of the National Assembly during the presentation of the 2021 Appropriation Bill on Thursday.

READ: National Assembly approves Federal Government’s plan to borrow $11 billion in 2021

The president explained that this is in line with the furtherance of the inclusiveness agenda of the present administration, as it will help to provide necessary buffers and shield to millions of Nigerians who are exposed to the widespread economic vulnerabilities.

“In furtherance of our inclusiveness agenda, the sum of N420 billion has been provided to sustain the Social Investment Programmes, while N20 billion has also been set aside for the family homes and our Social Housing Programme,” said Buhari

(READ MORE:National Assembly ready to pass 2021 Budget before end of 2020 – Senate President)

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President Buhari emphasized that the FG has expanded the National Social Register to include an additional 1 million Nigerians following the onset of coronavirus.

While speaking on fiscal disbursements by the government to combat the economic impact of the pandemic on Nigerians, the President said the government has introduced N75 billion Survival Fund Programme to support and protect businesses from potential vulnerabilities.

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READ: Thrive Agric drama: What it means for Nigerian investment startups

It is imperative to note that the disbursement to the National Social Investment Programmes in 2021, will be used to empower Nigerians, and also tackle poverty and hunger among Nigerians. This will be done through;

  • N-power programme, which was designed to assist young Nigerians to develop life-long skills for becoming change-makers, with a stipend of N30,000 monthly.
  • Conditional Cash Transfer (CCT) programme, designed to directly support those within the lowest poverty bracket through cash benefits to various categories of the poor and vulnerable.

(READ MORE:FG guarantees mortgage loan to low income buyers at low interest rate)

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Government Enterprise and Empowerment Programme (GEEP), is a micro-lending intervention that targets traders, artisans, farmers, and women in particular, by providing loans between 10,000 and 100,000 at no monthly cost.

Home Grown School Feeding Programme (HGSF), is aimed to deliver school meals to young children with a specific focus on increasing school enrollment, reducing the incidence of malnutrition, empowering community women as cooks, and by supporting small farmers that help stimulate economic growth.

READ: Full texts of President Muhammadu Buhari’s 2021 Budget speech

 

Omokolade Ajayi is a graduate of Economics, and a certificate holder of the CFA Institute’s Investment Foundation Program. He is a business analyst, and equity market researcher, with wealth of experience as a retail investor. He is a business owner and a stern advocate of Financial literacy, who believes in the huge economic prospect of the Nigerian Payment channels and Fintech space.

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    Business

    FG signs new Sustainable Development Goals agreement with UN

    The Agreement is for new development cooperation with initiatives towards achieving Sustainable Development Goals set in the UN Agenda 2030.

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    Xenophobia, FG reacts to inclusion of Nigeria on religious freedom blacklist by United States

    The Nigerian Government has signed a deal with the United Nations to develop new cooperation towards achieving Sustainable Development Goals.

    This was disclosed by the Minister of Foreign Affairs, Geoffrey Onyeama, in a statement on Thursday after the agreement was signed with the United Nations Office for Project Services, UNOPS, represented by Ifeoma Charles.

    The Minister said, “On behalf of the Nigerian Government, I signed an agreement with the UNOPS represented by Ifeoma Charles Multi-Country Office Rep. The Agreement is for a new development cooperation with initiatives towards achieving Sustainable Development Goals set in the UN Agenda 2030.”

    What you should know 

    The 17 Sustainable Development Goals are:

    No Poverty; Zero Hunger, Good Health, and Well-being; Quality Education; Gender Equality; Clean Water and Sanitation; Affordable and Clean Energy; Decent Work and Economic Growth; Industry, Innovation and Infrastructure; Reducing Inequality; Sustainable Cities and Communities; Responsible Consumption and Production; Climate Action; Life Below Water; Life on Land; Peace, Justice and Strong Institutions; and Partnership for the Goals.

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    Business

    Newly appointed IGP unveils policing vision

    The new IGP has the vision to deploy cutting-edge policing technology, integrate intelligence-led policing practices, and restoring public confidence in the Force.

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    The Inspector-General of Police, Ag. IGP Usman Alkali Baba, has unveiled a new policing vision as well as strategies to fight crime for the Nigeria Police Force.

    The IGP disclosed this at the inaugural conference with Zonal Assistant Inspectors General of Police, Commissioners of Police and other Heads of Police Formations in Abuja on Thursday.

    The IGP’s new policing vision includes:

    • Deploying cutting-edge policing technology;
    • Integrating intelligence-led policing practices to core policing functions, with a view to strengthening police capacity to stabilise the internal security order; and
    • Restoring public confidence in the Force.

    The IGP added that the aim of the new policies was to give full effect to the concept of community policing and deliver quality police service based on accountability and conformity to the rule of law.

    He also revealed that he had ordered the immediate reforms of the IGP monitoring unit and disbandment of satellite offices, in a bid to reorganize Force units to operate only in the context of their original mandates.

    What you should know 

    Nairametrics reported on April 6, 2021 that President Muhammadu Buhari had approved the appointment of DIG Usman Alkali Baba as acting Inspector-General of Police (IGP).

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