The Federal Government of Nigeria Has Increased Npower Budget By N365 Billion.
GoldenNewsNg reports that President Muhammadu Buhari led Federal Government on Friday announced the increment of appropriation amount for the Social Investment Program of the administration, Npower, by N365 billion.
The president disclosed this via his official Twitter handle @MBuhari while discussing deliberate actions taken to expand the nation’s fiscal budget for 2021.
He said “Yesterday, I assented to the 2021 Appropriation Act and the Finance Act 2020. The 2021 Budget provides for aggregate expenditures of 13.588 Trillion Naira, representing an increase of 505.61 Billion Naira over the initial Executive proposal.
“The increase however includes the 365 billion Naira provision for up-scaling the @NSIP_NG, which I requested for after laying the Budget before the Legislature. The budget details, as passed by the National Assembly, and signed into law by me, will be provided by @FinMinNigeria.”
“In designing the 2021 Budget, we deliberately chose to pursue an expansionary fiscal policy. We intend to use the Budget to accelerate our economic recovery process, promote social inclusion and strengthen the resilience of the economy.”
The president had directed the Ministry of Humanitarian Affairs, Disaster Management and Social Development to increase Npower Beneficiaries by 500,000 to 1 million to further speed up the process of lifting 100 million Nigerians out of poverty in the next 10 years.
Sadiya Farouq, the Minister of Humanitarian Affairs, Disaster Management and Social Development, said “In a bid to realise Mr. President’s commitment to lift 100 million Nigerians out of poverty in the next 10 years, the ministry places significant emphasis on youth empowerment by strategically ascertaining youth engagement as a foundational objective in implementing the following strategies: double the scope of the National Social Investment Programmes.
“Mr. President has graciously approved the expansion of all NSIP programmes. Such as increase of N-Power beneficiaries from 500,000 to 1,000,000, increase GEEP beneficiaries by 1,000,000 and increase of beneficiaries of Home-Grown School Feeding by 5,000,000.”
That was immediately after the NEXIT portal was launched to engage exited Npower beneficiaries.
