N5,000 To Poor Nigerians: Buhari Begins Payment
Just as it was announced that the process has begun to to pay the N30,000 stipends to participants of the N-power scheme, the Federal Government has also announced that it would start the payment of N5,000 to impoverished Nigerians.
One million vulnerable Nigerians will be rewarded with N5,000 monthly through the Conditional Cash Transfer (CCT) of its Social Investment Programme (SIP).
He said some of the beneficiaries had started receiving their payments as from Dec. 30, 2016.
He said funds for the payments to beneficiaries in Borno, Kwara and Bauchi were released last week to the Nigeria Inter-Bank Settlement System (NIBSS), the platform that hosts and validates payments for all government’s SIP.
He added that the funds for another set, which include Cross River, Niger, Kogi, Oyo, Ogun and Ekiti, would follow soon to complete the first batch of beneficiaries.
Akande said the nine pilot states were chosen because they had an existing Social Register that successfully identified the most vulnerable and poorest Nigerians.
He said the registers emerged through a tried and tested community based targeting (CBT) method working with the World Bank while other states were developing their Social Registers and would be included in subsequent phases.
He added that Plateau, Jigawa, Adamawa, Anambra, Benue, Enugu, Katsina & Taraba had so far complied with the stipulated framework provided and were set for the community based targeting method for the development of their Social Registers.
According to him, those states would be followed by Delta, Gombe, Kaduna, Kano, Imo and Ogun.
All the funds approved for the Federal Government’s Social Investment Programmes, SIP, are domiciled with the Ministry of Budget and National Planning.
In addition, the payment information and processes for all beneficiaries of the Federal Government’s SIP are hosted at NIBSS, as the Consolidated Beneficiary Register.
It is to ensure and fortify efforts at authentication and verification, as well as for effective and efficient programme management.
With the commencement of the CCT, the Buhari administration is now implementing four of the Federal Government’s SIP.
The release added that the Buhari administration had commenced the Government Enterprise and Empowerment Programme, (GEEP) where soft loans ranging from N10,000 to 100,000 have been designed for artisans, traders, market women among others.
Already, thousands of cooperatives, market women associations, farmers and enterprising youths, have been identified and registered for the purpose, on an ongoing basis.
The disbursement of the soft loans through the Bank of Industry started since Nov. 25.
At the last count, for the first phase, beneficiaries have been drawn from the Federal Capital Territory, FCT, Abia, Adamawa, Bauchi, Delta, Imo, Kwara, Kano, Katsina, Lagos, Osun, Oyo, Ogun and Kogi.
Akande said that the expectation and plan were that by month-end disbursements would have been made to 33,000 beneficiaries.