Disbursement
Presidency: One million Nigerians benefitting from survival fund
The Presidency yesterday said that over one million Nigerians have so far benefitted from the Survival Fund scheme under the Federal Government’s Economic Sustainability Plan (ESP). The Presidency said there are 500,000 beneficiaries from the MSMEs Payroll support track, 44,500 under the one-off General MSME Grant, and another 265,425 under the artisan support track, among others. Recall that payment to new beneficiaries of the Payroll Support track and the one-time General MSME Grant had commenced at the end of April. A statement by the Senior Special Assistant to the President on Media and Publicity, Office of the Vice President, Mr Laolu Akande, in Abuja last night explained that so far, under the ESP there are currently over one million beneficiaries nationwide from the various schemes...
Edo to spend N3 billion on economic recovery programme
Edo state government will spend over N3 billion to implement the Covid-19 Action Recovery and Economic Stimulus Programme. The programme is a component of the Nigeria Cares World Bank Support Programme. The Permanent Secretary in the state Ministry of Wealth Creation, Cooperatives and Employment, Joel Edionwe, disclosed this while briefing journalists on Wednesday. He explained that the state government is to provide grants to support businesses affected during the Covid-19 lock-down. According to him, the total package the World Bank support programme for Nigeria is $750 million, adding that its implementation would run from 2021 to 2022. “What they will get from Edo state government is a grant to repay the loans they took for their businesses affected by the pandemic. We do not need to ...
2,700 Akwa Ibom women benefit from federal government’s special grant
The minister of Humanitarian Affairs, Disaster Management and Social Development, Sadiya Umar Farouq, has advised Nigerian women not to regard the N20, 000 special grant given to the rural woman by the federal government as the fabled national cake. She has rather charged the beneficiaries to judiciously use the grant to improve their living standard by utilizing it as seed capital do boost their trades and businesses for greater income. Speaking through Bashir Nura Alkali, the permanent secretary of the ministry, at the flag off of the Grant for Rural Women Project and the symbolic disbursement of the grant to 2700 women of Akwa Ibom state, in Uyo, on Thursday, Farouq explained that the Grant for Rural Women Programme was introduced in 2020 to sustain the social inclusion agenda of Presid...
How ICPC is combating corruption in MDAs, stopped diversion of N189 billion personnel cost
File Photo In the past few years, the Independent Corrupt Practices and Other-Related Offences Commission, as part of its statutory mandate, has been conducting systems study and review of ministries and organisations in the federal public service. The overall objective of a system review is reform of the systems and procedures of public agencies with a view to identifying and eliminating, preventing, blocking and obstructing opportunities for corruption. To achieve this, the exercise targets detecting areas of vulnerabilities, actual weaknesses, leakages and corruption risks and to recommend ways of strengthening these systems and removing the discretionary gaps and such opportunities for both individual and institutional malfeasance on public resources. In addition, the review also targe...
How ICPC is combating corruption in MDAs, stopped diversion of N189 billion personnel cost
File Photo In the past few years, the Independent Corrupt Practices and Other-Related Offences Commission, as part of its statutory mandate, has been conducting systems study and review of ministries and organisations in the federal public service. The overall objective of a system review is reform of the systems and procedures of public agencies with a view to identifying and eliminating, preventing, blocking and obstructing opportunities for corruption. To achieve this, the exercise targets detecting areas of vulnerabilities, actual weaknesses, leakages and corruption risks and to recommend ways of strengthening these systems and removing the discretionary gaps and such opportunities for both individual and institutional malfeasance on public resources. In addition, the review also targe...
Nigerian government commences N30,000 grants to Uber drivers, Keke NAPEP riders
The federal government has commenced the disbursement of N30,000 grants for transporters as a measure to support those affected by COVID-19 pandemic under its economic sustainability plan (ESP). This was disclosed in a statement signed by Laolu Akande, senior special assistant to the vice president on media and publicity, on Sunday. The funds are being disbursed under the federal government’s micro, small and medium enterprise (MSME) survival fund scheme for artisans and transporters. The transport support track opened on November 30, 2020, after the artisans’ support track launched on October 1, 2020. According to the statement, the artisans track is under federal government’s survival fund, while the transport track is a different scheme also under the same fund. Those to benefit from th...
Nigerian governors to meet with President Buhari to address security challenges
Governors of the thirty six states under the aegis of the Nigeria Governors Forum, NGF have resolved to meet with President Muhammadu Buhari to address the security challenges with continued cases of armed banditry, terrorism and kidnapping across the country. The governors are meeting with President Buhari especially to discuss last week’s gruesome beheading of about 43 Farmers in Zarbamari near Maiduguri, Borno State by Boko Haram Insurgents while they were working in their farmland without any form of resistance. The decision was part of the resolutions reached at the end of the 22nd NGF teleconference meeting. In a Communique signed by the NGF Chairman and Ekiti State governor, Dr. Kayode Fayemi, said, ” Members of the forum resolved to meet with Mr. President as soon as possible to ad...
Senate moves to make law schools beneficiaries of education tax fund
The Senate has begun moves to ensure that all the Nigerian Law Schools are beneficiaries of Education tax funds with the amendment of Tertiary Education Trust Fund Act 2007. Consequently, the Senate has come up with ” A bill for an Act to amend the Tertiary Education Trust Fund Act 2007.” The Bill Scaled second reading yesterday in the Senate. In his lead debate on the bill, Senator Micheal Opeyemi Bamidele, APC Ekiti Central, sponsor of said that the bill which was read for the first time on the floor of the Senate on Thursday, 28th May, 2020, seeks to amend sections 4, 7 and 20 of the Tertiary Education Trust Fund (Establishment, Etc.) Act, 2011 (hereinafter referred to as the “principal Act”) He said that amendment also seeks to add the Nigerian Law School, as one of the benefiting tert...
Subsidy removal: Nigerian government sets up modalities to disburse 2,000 buses
The Federal Government on Monday in Abuja has set up modalities for the disbursement of 2, 000 buses to cushion effects of subsidy removal. Dr George Akume, Minister of Special Duties and Intergovernmental Affairs in his speech at Inter-Ministerial Stakeholders meeting on Poverty Alleviation, said the initiative was also part of programme to lift 100 million Nigerians out of poverty. Akume said the initiative was in collaboration between his ministry, Agriculture and other government agencies saying the disbursement of the buses would be through cooperative societies of Nigeria. He recalled that President Muhammadu Buhari in his 2019 democracy speech, promised to lift 100 Nigerians out of poverty through numerous governments` initiatives. “The alleviation of poverty in Nigeria has been and...
Coronavirus: CBN doubles loan disbursement to N300 billion – bank governor
The Central Bank of Nigeria (CBN) says it plans to double the Targeted Credit Facility (TCF) from the initial N149.21 billion to N300 billion following the resounding success recorded in the disbursement of the Covid-19 loans to the applicants. In his keynote address at the 2nd virtual seminar for Finance Correspondents and Editors at the weekend, the Governor said the Bank took the decision in order to accommodate many more beneficiaries as well as boost consumer expenditure which would positively stimulate the economy. He disclosed that the CBN initially created a N150 billion Targeted Credit Facility (TCF) for affected households and small and medium enterprises through the NIRSAL Microfinance Bank, adding that already, N149.21 billion has been disbursed to 316,869 beneficiaries. “Given...