President Tinubu approves N32.7bn for Social Investment Programme – Prof. Nentawe

President Bola Tinubu has approved N32.7 billion to implement the National Social Investment Programme (NSIP).

Prof. Nentawe Yilwatda, the Minister of Humanitarian Affairs and Poverty Alleviation, said this on Friday in Makurdi when the State Action Plan for durable solutions for Internally Displaced Persons (IDPs) was launched.

Yilwatda said the approval was in line with the President’s Renewed Hope Agenda aimed at prioritising the most vulnerable groups in the country.

He said the funds would support vulnerable groups in the country with non-collateral and non-interest loans.

He said those to benefit from the loans were vulnerable groups, especially the youth and women.

Yilwatda noted that the funds would be distributed through cooperatives and urged Nigerians to form cooperatives to benefit from the scheme.

“We will give you between N300,000 and N400,000 as household loans. So, if you have a cooperative of 20 people, for example, you have N300,000 multiplied by 20, that’s six million naira.

“We also have the N-Power, which the President has asked us to redirect. We should reform it and make it more productive.

“We should link the youth, not just by training them alone, but we should link them to the market space and the private sector.

“To ensure that is done, the President has procured over 100,000 items that can empower over 100,000 youths across the country,” he said

Yilwatda added that the President had approved and was implementing conditional cash transfer, and it was in a big way.

He said 70 million Nigerians would benefit from the scheme, adding that at least 15 million households were expected to benefit from it.

“Four to five persons from the 15 million households would benefit from the N75,000 cash transfer that would be disbursed in three installments,” he said.

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