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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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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

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

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(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.

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.

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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

 

1 Comment

1 Comment

  1. Anonymous

    October 9, 2020 at 7:07 pm

    So the batch a and b npower beneficiaries will just be layed off like that? This is not fair.

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#EndSARS Protest: 80 BRT buses worth N3.9 billion were destroyed by hoodlums – LASG 

The Lagos State Government disclosed that the 84 BRT vehicles destroyed by the hoodlums cost a total of about N3.9 billion.

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#EndSARS Protest: 80 BRT buses worth N3.9 billion were destroyed by hoodlums - LASG 

The Lagos State Government has revealed that 27 of the burnt Bus Rapid Transit (BRT) vehicles in the Oyingbo and Ojodu Berger areas of the state cost $200,000 each, while 57 of them cost $100,000 each, all totaling about N3.9 billion.

This statement was made by the Lagos State Government on Friday, after evaluating the extent of damage made to the Bus Rapid Transit (BRT) vehicles.

READ: Arik, Dana Airlines to resume flight operations after curfew

What you should know

Few days ago, hoodlums hiding under the cover of #EndSARS protests allegedly attacked and razed the Oyingbo BRT terminal, with several buses burnt. Nairametrics reported that Primero Transport Services Ltd (PRT), the owners of BRT buses said they have lost over N100 million in 6 days due to the #EndSARS protests.

READ: Lagos Bus Service records 10 million passengers in 10 months

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The State’s Commissioner for Information, Mr. Gbenga Omotosho, in an exclusive interview with Punch, disclosed that:

  • 23 big BRT buses were razed down, while 57 medium-size BRT buses were affected by the violence, which brings the total of the BRT vehicles destroyed to 80. 
  • 23 of the 80 BRT buses burnt by the hoodlums were at Ojodu, while the remaining  57 were at the Oyingbo area.  
  • The big buses cost around $200,000 each, while the medium-size ones cost around $100,000 each.

READ: #EndSARS: Lagos orders investigation of Lekki Toll Plaza shooting

What they are saying 

Mr. Omotosho said, “As I speak, the Governor and some of us are going around the state from one facility to the other. We are also visiting private facilities. Some of the places were the Oregun Vehicle Inspection Service office, the BRT park at Oyingbo, and the terminus at Ojodu Berger. 

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“I don’t know how they planned it; the hoodlums left the old buses and went for the new ones. The new ones were worth billions of naira. 

READ: Operators of BRT suspend operations on Ikorodu-TBS route

“However, the cumulative losses incurred by the state are not ready yet. But it will be mind-boggling. It came on a scale beyond belief. We know that the police have apprehended suspects.”

What this means

The vehicles were purchased in dollars; So, the consistent decrease in the value of Naira is expected to edge the cost of these buses up, when denominated in Naira. 

The Lagos State Commissioner for Information, Mr Gbenga Omotosho explained that with the current foreign exchange rate, the 80 destroyed BRT buses are now valued at N3.929 billion.

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#EndSARS protest: Pentecostal Fellowship of Nigeria sues for peace

Chairman of the Cross River State PFN has urged protesting youth to sheathe their sword and give peace a chance.

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#EndSARS protest: Pentecostal Fellowship of Nigeria sues for peace

The Pentecostal Fellowship of Nigeria (PFN) join the list of well-meaning organizations advocating for peace in this critical time, just as the body urged the protesting youth to sheathe their sword, and give peace a chance.

The appeal comes after weeks of protests that have rocked different parts of the country. Making this vital call is the Chairman of PFN, Cross River State chapter, Dr. Lawrence Ekwok, who made the appeal in a statement made available to The Vanguard.

READ: $9.6 billion judgement: UK Court grants Nigeria stay of execution, requests $200 million payment 

What they are saying

Dr. Lawrence said, “On behalf of the entire leadership and membership of the Pentecostal Fellowship of Nigeria, PFN, (the umbrella body of all Pentecostal Churches) in Cross River State, I hereby appeal to all protesting youths in Cross River state to sheath their swords.

“I wholeheartedly feel and share in their pains that may have provoked the protests, however, have made their points loud and clear; I, therefore, appeal for restraint and call for calm and a stop to further destruction of property in the state.

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READ: Ayade signs PPP agreement for $15m cocoa city project with Israeli company

“This is especially so as the public property belongs to the people of Cross River State and not to any individual whether in government or out of government, just as it will not be fair to destroy property belonging to private persons or concerns who are contributing to the development of Cross River State.

“I am confident that our well-meaning youth will heed this call even as I pray that the Lord God Almighty will bless them and intervene speedily and restore peace to Cross River State in Jesus name, Amen!”

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READ: FG asks UK court for more time to appeal $9.6 billion arbitration judgement

Why this matter

The call is a step in the right direction, as it will help to reduce tension and avert looming religious, political, and ethnic crises that are capable of destabilizing the country. Therefore, it will be remarkable for other religious bodies, ethnic, and religious leaders to rise up to the challenge of condemning the arson and looting that have pervaded the nooks and crannies of the nation.

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BREAKING: Lagos State reviews curfew again, now from 8pm to 6am

Governor Babjide Sanwo-Olu has once again reviewed the curfew in the state to now commence between 8 pm to 6 am.

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4 key points in the new Lagos 2020 Land Use Charge, Lagos offers tech founders N250 million seed fund, cuts stringent access , Governor Sanwo-olu launches 14 ferries to tackle gridlock, says Okada ban irreversible, ride-hailing

The Lagos State Governor, Babajide Sanwo-Olu, has further reviewed the curfew earlier imposed on the state to help contain the large scale violence following the hijacked #EndSARS protests against police brutality and extra-judicial killings. The curfew now starts at 8 pm and ends at 6 am daily.

This is coming 2 days after the Governor had eased the 24-hour curfew to start from 6 pm to 8 am daily.

This disclosure was made by the Lagos State Commissioner for Information and Strategy, Gbenga Omotoso, on Sunday, October 25, 2020.

The Commissioner in his statement said, “The curfew in Lagos State has been reviewed. Restriction time is now 8 pm to 6 am. Lagosians are enjoined to plan their journey times as they go about their lawful businesses. Public schools remain shut till further notice.”

What this means

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This new review gives Lagosians an extra 4 hours to go about their daily activities.

What to expect

The Lagos State government will keep on reviewing and relaxing the curfew, as long as the security situation does not spike again.

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Details later…

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