NPower Payment Update- Director Explained Reason for Delay

In the Latest Npower News, the Director of Finance and Account at the National Social Investment Programmes (NSIP) of the Federal Ministry of Humanitarian Affairs and Poverty Alleviation has shed light on the delayed payment of beneficiaries’ outstanding stipends. The director provided insights during a budget defense session, explaining the reallocation of funds to other ministries as a contributing factor.

Here are key points from the director’s report to the committee:

1. The funds reallocated from the Social Investment office were recurrent.
2. An amount of N127 billion was reallocated from the social investment office, specifically earmarked for N-Power stipends.
3. All beneficiaries under Category 1 (C1) received 15 months of stipends, covering the 12-month service year and a 3-month exit package.
4. Beneficiaries under Category 2 (C2) received stipend payments for three months, from October to December 2023.
5. N-Power Batch C2 beneficiaries are owed 9 months of stipends from January to September 2023.
6. The total number of eligible beneficiaries for these stipends is 440,000.

The director indicated that the Ministry faced challenges in obtaining funds for the N-Power program, leading to the delayed payment of beneficiaries. The Ministry is reportedly working to secure additional funds to settle the outstanding stipends owed to N-Power Batch C2 beneficiaries.

While the Minister had previously mentioned the recovery of funds and the forthcoming payment to beneficiaries, the director’s explanation provides further context to the challenges faced by the Ministry in managing the N-Power program’s financial aspects.

For more details, you can watch the video containing the director’s explanation on the issue.