Tag: FG Intervention Fund

FG Intervention funds: SERAP sues FG, Sadiyya Farouk

Aminu Imam

Seeks details of ‘payment of N729bn to poor Nigerians‘ The Socio-Economic Rights and Accountability Project, (SERAP), has filed another lawsuit against the Federal Government of Nigeria at the Federal High Court, in Lagos The agency asked the court to compel the Federal Government to disclose details of proposed payments of N729bn to 24.3 million poor Nigerians, including the mechanisms and logistics for the payments, list of beneficiaries, and how they have been selected, and whether the payments will be made in cash or through Bank Verification Numbers or other means.…

Read More

FG flags-off commencement of N-Power Batch-C programme

Aminu Imam

The Federal Government, yesterday flagged-off the commencement of N-Power Batch-C across the country, with 510 enrollees participating in Stream-1 of the Youth Empowerment Scheme. The Minister of Humanitarian Affairs, Disaster Management and Social Development, Sadiyya Umar Farouq, who flagged-off the event in Abuja, said another 490 enrollees would be engaged in the Batch-C, Stream-2 to be flagged-off at a later date. While explaining that N-Power volunteer graduates were entitled to a monthly stipend of N30,000 for a period of one year, she said non-graduate beneficiaries were entitled to N10,000 monthly…

Read More

Covid-19: “Weve spent N502.3bn for intervention” – Zainab Ahmed

Aminu Imam

The Minister of Finance, Budget and National Planning, Zainab Ahmed, has disclosed that N502.3 billion has so far been spent by the Federal Government to stabilise the economy after being hit by the rampaging Covid-19 pandemic. Speaking in Abuja on Tuesday, at the ‘National Dialogue on Covid-19: Economic Impact and Assessment of National and States recovery plans and Policy options‘, the minister explained that Nigeria was deeply affected by the pestilence because it was recovering from recession before Covid-19 led to an all-time fall of crude oil prices being the…

Read More

Gas value-chain: FG, CBN unveil N250bn intervention facility for investors

Aminu Imam

The Federal Government has introduced a N250 billion intervention facility to stimulate finance and motivate investors in the gas value-chain. The Permanent Secretary, Ministry of Petroleum Resources, Bitrus Nabasu, disclosed this while briefing newsmen yesterday, in Abuja. He said the partnership is between the Ministry of Petroleum Resources and the Central Bank of Nigeria (CBN). He said the large-scale projects under the intervention would be financed under the Power and Airlines Intervention Fund, (PAIF), in line with existing guidelines and regulations of the Fund. According to him, the small-scale projects and retail…

Read More

FG Intervention: “Weve shared N9.5bn to vulnerable Nigerians in Katsina” Minister

Aminu Imam

The Federal Government says it has so far disbursed N9.5 billion as conditional grant to 142,000 poor and vulnerable households in Katsina State. Minister of Humanitarian Affairs, Disaster Management and Social Development, Sadiyya Umar-Farouk, disclosed this while distributing palm-top computers to 108 independent monitors of the social investment programme in Katsina yesterday. Umar-Farouk said President Muhammadu Buhari has approved the expansion of the Social Register to accommodate more poor and vulnerable Nigerians in the conditional cash transfer scheme. The minister, represented by Director, Information and Communication Technology (ICT), Aminu Tukur,…

Read More

FG to lift 20 million Nigerians out poverty in two years ? Osinbajo

Aminu Imam

Vice President Yemi Osinbajo has assured that with the successful activation of the Economic Sustainability Plans (ESP) Cash Transfer scheme, the present administrations vision of reducing extreme poverty by lifting at least 20 million Nigerians out of poverty in the next two years is now within reach. He stated this yesterday, in Abuja, whilevirtuallyflagging-off the cash transfer scheme, to be facilitated through a wholly technology-based approach called the Rapid Response Register (RRR). According to a statement issued by the VP’s spokesman, Laolu Akande, the scheme is aimed at delivering financial…

Read More

CBN disburses N10bn intervention funds to Kano industries affected by pandemic

Aminu Imam

The Central Bank of Nigeria, (CBN), has disbursed the sum of N10billion to Kano companies affected by the pandemic, through a consortium of Kano Investment and Diaspora, in partnership with the Foreign Commonwealth Development and the Manufacturers Association of Nigeria (MAN). This was disclosed on Monday in Kano by the DG of KanInvest & Diaspora, Hajiya Hama Ali, in a meeting on the Kano Turnaround Project. She said the target of the funds would be 50 companies and that the Kano agency would work with the affected companies to determine…

Read More