President Bola Tinubu has approved N32.7 billion for the implementation of the National Social Investment Programme (NSIP) to support vulnerable Nigerians, with a focus on youth and women.
The Minister of Humanitarian Affairs and Poverty Alleviation, Nentawe Yilwata, announced the development on Friday in Makurdi during the launch of the State Action Plan for Durable Solutions for Internally Displaced Persons (IDPs).
According to Yilwata, the approval aligns with the president’s Renewed Hope Agenda, which prioritizes addressing the needs of the nation’s most vulnerable groups.
He disclosed that the funds would be distributed as non-collateral and interest-free loans to beneficiaries through cooperatives.
“We will give between N300,000 and N400,000 as household loans. So, if you have a cooperative of 20 people, for example, then it means you have N300,000 multiplied by 20, that’s six million naira,” Yilwata explained.
In addition, the minister revealed plans to reform the N-Power scheme, aiming to connect trained youths to the market space and private sector for better productivity.
“The President has procured over 100,000 items to empower over 100,000 youths across the country,” he said.
The programme will also include a large-scale conditional cash transfer scheme expected to benefit 70 million Nigerians across 15 million households.
Yilwata noted that each household would receive N75,000, disbursed in three instalments, with four to five persons from each household as direct beneficiaries.
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