ABUJA- THE federal government, Monday, said it was spending a total of N400 billion annually on its ongoing National Social Investment Programmes, NSIPs.

The government explained that the amount was being spent for the eradication of poverty in the country, adding that it was part of President Muhammadu Buhari’s commitment to eradicating poverty with a view to accelerating Nigeria’s development.

Mr. Boss Mustapha, Secretary to the Government of the Federation,SGF, spoke through the Minister of Sports, Sunday Dare, during the official flag-off of Government Enterpri(GEEP 2.0), in Abuja.

Noting that, “We have a president who is readily committed to the eradication of poverty as a way to accelerate Nigeria’s development”, Mustapha particularly described the N-Power programme as “the single largest programme in sub-Saharan Africa today.”

“This administration commits on a yearly basis over 400 billion naira to these people-oriented initiatives, this clearly attests to the commitment of the president that has never been witnessed before in this country.

The initiative and policies also cater for various sectors of the society, the youth, women, vulnerable and others,” he said.

Earlier, in her speech on the occasion, Minister of Humanitarian Affairs, Disaster Management and Social Development, Sadiya Umar Farouq, said an additional one million farmers and traders have been added to GEEP at the instance of President Muhammdu Buhari.

Each farmer, the minister explained, would be given N300,000 as a loan just as she said each trader would get N50,000.00 in that order in the reviewed scheme.

Hear her: “With Mr. President’s gracious approval to expand to provide loans to an additional 1,000,000 beneficiaries, with emphasis to targeting smallholder farmers in the year 2020/2021, the GEEP has been restructured and is being flagged-off today as GEEP 2.0.

“Part of the new strategies to better the scheme were the increase in the loan portfolio of traderMon/ and Market Moni loans from N10,000.00 to N50,000.00, while the FarmerMoni is now N300,000 along with the provision of the value chain and creation of digital marketplace (E-platform) for beneficiaries to sell their products.

“Furthermore, a digital integration, and coordination platform along with a strong and centralized monitoring and evaluation system aimed at enhancing loans recovery.

“The NSIP and by extension, the GEEP currently remain the main driving force behind the poverty reduction in Nigeria.”

She explained further that the “GEEP 2.0 is structured to effectively deliver soft loans and skills to a wide range of unemployed citizens including persons living with disability, marginalized women and unemployed youth amongst other vulnerable groups in our society.

“Other key features of GEEP 2.0 includes empowering Nigerian farmers especially the rural farmers; “Rapid scale-up of Farmer Moni to agro-entrepreneurship to increase agricultural produce, food security, and job creation; “Market Moni will especially focus on the underprivileged and marginalized woman in the communities: “The Trader Moni will target empowerment and uplifting underprivileged and vulnerable youth that scavengers, market wheelbarrow boys, orphans and youth with special needs;

“Have a nationwide reach which intends to empower farmers in the rural area irrespective of gender, race or religion across all the 36 states of Nigeria; and “It is anticipated also to reduce unemployment by the creation of skilled jobs for the underprivileged in our society.”



https://www.vanguardngr.com/2021/08/n400bn-being-spent-annually-on-nsips-says-fg/

Madness runs in this Nigeria govt vein otherwise who are those beneficiaries of 400b?



Scam govt

Government of thieves.....Yet some nepotistic idiots will still be disturbing us up and down saying their baba is incorruptible. Incorruptible my nyash

All what they spend is being recouped in multiple through inflated gas, transport, food and power. Even tax isn't left out.