Federal Government Of Nigerian Set To Empower 300,000 Graduates Through Central Bank Of Nigeria

By ABDULAZEEZ ABDULRAHEEM

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Under National Social Investment Programme, With Credit Facilities From N500, 000 – 10,000,000 To Each Graduates In Nigerian

N-power was created on 8th June, 2016 to address the issues of youth unemployment and help increases of youth unemployment and help increase social development.

The scheme is created for unemployment graduates and non-graduates between the ages of 18 – 35 years.

The N-power programmes which was in three sections the NTech, N-Health N-Agro.

The federal government flagged up the NEXIT/CBN Agro business small and medium enterprises investment scheme for exited graduate’s beneficiaries in Abuja with 2,750 graduates.

The ministry told the graduates to use software which CBN will give to them after the training wisely.

That is an opportunity for them, while she told them that the disbursement of the soft loan is on or before end of first quarter of 2022. In October 2019, Sadiya Umar Faruq was the first person to head the ministries of Humanitarian Affairs and Disaster, and of the N-power programme was move to the ministry she later expanded the programme to give Nigerian graduate and non-graduates opportunity to come on board, which she said to the first 500,000 graduates should be NEXIT and said that the federal government will empower them shortly.

Early this year the ministry come up with a code *45665# to know the readiness of the graduates in the empowerment by federal government but out of the 500,000 only 230,000 graduates are readily and confirm for the empowerment graduates by the ministry.

Hajiya Sadiya Umar Farouq said that federal government of Nigerian in collaboration with the central bank of Nigeria CBN has concluded plans to empower Nigerian graduates, that the NEXIT beneficiaries will be given a credit facilities worth from 500,000-10,000,000 base on their business plain the N-power programmes is key to helping young Nigerian acquire and develop life-long skills that ensure them to overcome poverty.

The Central Bank of Nigerian training of NEXIT graduates through consult such as Urebacafe and G-consult and Info Media NG, training the graduates on ways to use the soft loan wisely because the soft loan is on 9% and they will use it for 7 years.

They also teach them how to write business plan to CBN for them to access the loan, meanwhile, the reasons why they would write business plan to CBN NEXIT loan is that central bank of Nigeria is a lender institution which need a written document that describes in details of what business you intend to do.

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