The Federal Ministry of Humanitarian Affairs, Disaster Management and Social Development has restated its resolve to offer Loans to the exited beneficiaries of the Federal Government Npower Scheme, through NEXIT Loan Programme.
The Minister, Sadiya Umar Farouk, during a weekly ministerial briefing organised by the presidential media team on Thursday said it has gone far in its preparation to reposition the exited beneficiaries as it collaborates with the Central Bank of Nigeria to offer Loan amounts to the beneficiaries.
According to Farouk, 300,00 Exited Batch A and B Npower beneficiaries will benefit from the CBN Intervention Loan Programme after a forthcoming Vocational Training being organised by the Ministry.
"We have an exit strategy which we have partnered with the Central Bank of Nigeria.
"Out of the 500,000 Batch A and B Npower beneficiaries, about 300,000 indicated interest to be enrolled in an exit programme where they can be trained on different skills of their choice, and they will be given loans by the Central Bank of Nigeria, to enable them start their businesses, the Minister stated.
The NEXIT Loan Programme is meant to offer Loan amounts between N250,000 - N3million as obtainable in the CBN Intervention Programmes such as AGSMEIS Loan, COVID-19 Targeted Credit Facility Loan, and the Nigeria Youth Investment Fund Loan Scheme.
NEXIT Loan will be disbursed to the eligible beneficiaries based on CBN criteria and regulated by rules guiding its intervention loan programmes, Farouk earlier disclosed in a Statement.
The Minister in her statement on Thursday said before the end of this quarter, the beneficiaries who indicated interest in the NEXIT Loan would have been trained and Loan amount disbursed to them.
In our earlier publication on NEXIT Loan Update, we made it known to our readers who do not know what NEXIT is all about that NEXIT Loan as popularly called is exit strategy for all Npower beneficiaries, and not only for Batch A and B of the Scheme.
However, it is beginning with the already exited 500,000 Npower beneficiaries.
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