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FG Approves N4,500 Subsidy For N-Power Graduates To Buy Tablets

BEVERLY HILLS, March 14, (THEWILL)- The sum of N4,500 has been approved by the Federal Government for each of the 200,000 Beneficiaries of N-Power Volunteer Corps jobs to purchase an enhanced electronic device.

This is as a total of 149, 669 Nigerian graduates of the 200,000 are now collecting their monthly stipends of N30,000 monthly having been physically verified and deployed across the 36 states and the FCT.

The device would be loaded with different applications that would further improve the skills of the beneficiaries and afford them additional training opportunities during the two-year duration of the job program.

The Senior Special Assistant to Vice President Yemi Osinbajo on Media and Publicity, Mr. Laolu Akande, disclosed this in a statement which gave an update on the Social Investment Programmes of the present administration.

He stated that the device grant was in conjunction with the Bank of Industry, BoI, which has extended an asset finance of 20 months to each of the 200,000 N-Power beneficiaries.

Akande said, “While each of the beneficiaries after being verified would select their choice of device amongst nine different BOI pre-approved vendors, the price ranges from N3,000 to N6,700 monthly deductions for the next 20months.

“Therefore in some cases the N4,500 device grant would cover the full monthly deduction cost while in other cases the graduate authorizes BOI to deduct the additional differential cost from their monthly stipends depending on the device chosen.”

He further pointed out that “6 of the 9 BOI pre-approved vendors are indigenous local brands in pursuit of the Buhari administration’s push for Local Content.”

The Vice President’s spokesman said,  “almost 100,000 graduate N-Power beneficiaries have completed their orders for the devices,” adding that the Bank of Industry is in charge of affecting the orders made.

According to the statement, “The plan is to conduct the order of the devices in two batches of 100,000 each, one after the other.

“It was further disclosed that all the 149,669 N-Power beneficiaries now collecting their stipends have been physically verified and deployed, while their given bank account information have also been matched with the Bank Verification Number.”

Akande said that “in December, about 112,475 of the N-Power graduate beneficiaries received the N30,000 monthly stipends, and the number came close to 150,000, both in January and February meaning about that number are now receiving their up-to-date stipends from the N-Power Volunteer Corps.”

He also noted “that now beneficiaries across the 36 States of the Federation, and the FCT have been verified, totaling the 150,000 figure. He said the balance 50,000 of the 200,000 beneficiaries engaged by the FG are those who so far could not be paid for various reasons.

“This includes those who were disqualified during verification on the basis of age-over 35, and inadequate academic qualification.”

This post first appeared on News In Nigeria, please read the originial post: here

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FG Approves N4,500 Subsidy For N-Power Graduates To Buy Tablets


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