Tinubu approves ₦32.7bn to improve the livelihood of vulnerable Nigerians
In a bid to support vulnerable groups across Nigeria, President Bola Tinubu has approved N32.7 billion for the implementation of the National Social Investment Programme (NSIP).
The announcement was made by Nentawe Yilwata, Minister of Humanitarian Affairs and Poverty Alleviation, during the launch of a state action plan for durable solutions for internally displaced persons (IDPs) in Makurdi, Benue State, on Friday.
This development follows the suspension of NSIP-related programmes on January 12, 2024, amid allegations of mismanagement. Despite this, the House of Representatives recently urged the president to unfreeze NSIP agency accounts, a request that appears to have paved the way for the programme’s revival.
Yilwata emphasized that the approved funds align with the president’s Renewed Hope agenda, which prioritizes the welfare of Nigeria’s most vulnerable populations.
The programme will provide non-collateral, interest-free loans, with a particular focus on empowering women and youth through cooperative societies.
“We will give you between N300,000 and N400,000 as household loans. For instance, if you have a cooperative of 20 people, that amounts to six million naira,” Yilwata explained.
In addition to loans, the minister announced a reform of the N-Power initiative, aimed at boosting productivity among Nigerian youth. He revealed that over 100,000 empowerment items have been procured to support young Nigerians in accessing market opportunities and collaborating with the private sector.
Furthermore, President Tinubu has approved the rollout of a large-scale conditional cash transfer programme designed to assist 70 million Nigerians. At least 15 million households, each comprising four to five members, are set to benefit, receiving a total of N75,000 in three instalments.
“These measures demonstrate the president’s commitment to improving the livelihoods of Nigerians and ensuring no one is left behind,” Yilwata said.
The renewed focus on social investment underscores the administration’s efforts to address poverty and foster economic inclusion, providing hope for millions across the country.
