President Buhari has disclosed that his government in an effort to cushion the effect of hardship on Nigeria has directed the expansion of N-Power to accommodate more people from the former 500,000 persons to now 1million people. Buhari made the announcement in his speech to commemorate the year 2021 workers' day celebration.
The president said he was optimistic, the expansion would ensure more jobs to our Nigerian youth through such a safety net program of his government in its determination to reduce poverty in the country after the covid-19 effect.
During the speech, he listed some of the socio-economic policies of his administration.
The Nigerian leader mentioned the increase in the number of persons also in the conditional Cash Transfer for the vulnerable poor from 2.6million households (13 million persons) to 7.6 million households (32 million persons) about a 250% increase of beneficiaries.
He explained that the COVID-19 Rapid Response Register (RRR) for the urban center poor persons now has also been increased to 4.8million households (20 million persons) which comprises the urban on-working class vulnerable.
Buhari also revealed that among his policies was also an Artesian Support Fund, payroll Support Fund for small scale businesses, and Business Formalisation to encourage Medium enterprises through the offering of free registration with the Corporate Affairs Commission, CAC.
He also disclosed another part of the support fund, the National Youth Investment Fund (NYIF) for youth entrepreneurs, and has earmarked N75billion for three years to support the labor force.