At the last count 149,669 Nigerian graduates of the 200,000 engaged by the Federal Government under the N-Power Volunteer Corps are now collecting their monthly stipends of
N30,000 monthly having been physically verified and
deployed across the 36 states and FCT.
According to Mr. Laolu Akande, Senior Special Assistant on Media & Publicity to the President, Office of the Vice President made this disclosure while giving an update today on the Social Investment Programmes of the Buhari administration . Besides, Akande added that the Federal Government has also approved an additional
N4500/monthly to all the 200,000 N-Power beneficiaries to purchase an
electronic device which would be loaded with different applications that would
further enhance the skills of the beneficiaries and afford them additional
training opportunities during the two-year duration of the job program.
This device grant is in conjunction with the Bank of Industry (BoI) who has extended an asset finance of 20 months to each of the 200,000 N-Power beneficiaries. 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 N4500 device grant would cover the full monthly deduction cost while in other cases the graduate authorizes 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 as at press time, adding that the Bank of Industry is in charge of effecting 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 have also been matched with the Bank Verification Number.