President Muhammadu Buhari has approved the sum of N4,500 for each of the 200,000 beneficiaries of N-Power Volunteer Corps jobs for the purchase of an enhanced electronic device to further improve the skills of the beneficiaries and afford them additional training opportunities during the two-year duration of the job program.
Also, a total of 149, 669 Nigerian graduates of the 200,000 are now collecting their monthly stipends of N30,000 monthly having been physically verified and deployed across the 36 states and FCT.
Mr. Laolu Akande, the Senior Special Assistant on Media and Publicity to Vice President Yemi Osinbajo made the disclosure while giving an update on the Social Investment Programmes of the present administration. According to Akande who issued a statement, the device grant was in conjunction with the Bank of Industry (BoI) which has extended an asset finance of 20 months to each of the 200,000 N-Power beneficiaries.
According to Akande who issued a statement, the device grant was in conjunction with the Bank of Industry (BoI) which has extended an asset finance of 20 months to each of the 200,000 N-Power beneficiaries.
He explained: “While each of the beneficiaries after being verified would select their choice of device amongst nine different BOI pre-approved vendors, the price ranges from N3,000 to N6,700 monthly deductions for the next 20months.
“Therefore in some cases the N4,500 device grant would cover the full monthly deduction cost while in other cases the graduate authorises BOI to deduct the additional differential cost from their monthly stipends depending on the device chosen.”
The Vice President’s Spokesman also noted that “6 of the 9 BOI pre-approved vendors are indigenous local brands in pursuit of the Buhari administration’s push for Local Content.” He said “almost 100,000 graduate N-Power beneficiaries have completed their orders for the devices, adding that the Bank of Industry is in charge of affecting the orders made. The plan is to conduct the order of the devices in two batches of 100,000 each, one after the other. “It was further disclosed that all the 149,669 N-Power beneficiaries now collecting their stipends have been physically verified and deployed, while their given bank account information
He said “almost 100,000 graduate N-Power beneficiaries have completed their orders for the devices, adding that the Bank of Industry is in charge of affecting the orders made. The plan is to conduct the order of the devices in two batches of 100,000 each, one after the other. “It was further disclosed that all the 149,669 N-Power beneficiaries now collecting their stipends have been physically verified and deployed, while their given bank account information
“It was further disclosed that all the 149,669 N-Power beneficiaries now collecting their stipends have been physically verified and deployed, while their given bank account information have also been matched with the Bank Verification Number.”
The SSA said that “in December, about 112,475 of the N-Power graduate beneficiaries received the N30,000 monthly stipends, and the number came close to 150,000, both in January and February meaning about that number are now receiving their up-to-date stipends from the N-Power Volunteer Corps.”
Akande also noted “that now beneficiaries across the 36 States of the Federation, and the FCT have been verified, totalling the 150,000 figure. He said the balance 50,000 of the 200,000 beneficiaries engaged by the FG are those who so far could not be paid for various reasons. “This includes those who were disqualified during verification on the basis of age over
“This includes those who were disqualified during verification on the basis of age over 35, and inadequate academic qualification.
The N-Power is for university, polytechnics and College of Education graduates only.
In the case of those whose marital status have changed, Akande explained that their information is now being updated through the various States and FCT Focal Persons and then they would be represented for payment. He also disclosed that those who have sought redeployment to other states are among the 50,000 and in such cases, they will be considered alongside those to be replaced from the N-Power waiting list where necessary.
“The process for the replacement of those who did not show up and those disqualified would also resume shortly to bring the number back to 200,000 for the first batch of the 500,000 promised by the Buhari administration”, he said.