300,000 N-Power Exited Beneficiaries Will Receive CBN Loan – FG

300,000 N-Power Exited Beneficiaries Will Receive CBN Loan- FG

The Federal Government has disclosed that 300,000 N-Power exited beneficiaries will receive loan facilities from the Central Bank of Nigeria (CBN) after undergoing vocational training.

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This was made known by the Minister of Humanitarian Services, Disaster Management and Social Development, Hajiya Sadiya Umar Farouk, during the weekly ministerial briefing organized by the presidential media team on Thursday.

According to the Minister:

“Yes, we have an exit strategy, which we partner with the Central Bank of Nigeria. And out of this 500,000, about 300,000 indicated interest to be put on an exit programme where you can be trained on different skills, skills of their choice and they will be given loans by the Central Bank of Nigeria, for them to start their businesses.

“This we have gone far. We are in the process of training those that have indicated interest. And I’m sure before the end of this quarter, these people will be given these loans by the CBN.

“As a government agency the ministry, we do not give loans. So, we have to partner with those institutions that can do that.

“About 109,000 of the N-Power beneficiaries have become entrepreneurs. They are now employers of Labour and we have evidence of that which can be provided to you.

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“This is a very laudable programme, and people have benefited and people are being supported. And we have an exit strategy. And we are on and it’s a continuous process.”