Presidency begins payment of N65,000 monthly stipend to poor Nigerians in 9 States ON JANUARY 2, 201710:40. As it kicks off implementation of four Social Investment Programmes across the country including Micro-Credit Scheme for about N6.2b
- More than one year after it came on board, the president Mohammadu Buhari led administration has commenced payment of N65,000 monthly stipends it promised to Unemployed Nigerians. The development was substantially embedded in the campaign promises of the ruling All Progressives Congress, APC during the 2015 presidential election.
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The Programme is also a part of the Conditional Cash Transfer (CCT) of its Social Investment Programmes, SIP for which N65 billion was appropriated in the 2016 national budget. Aside the N-Power jobs where graduates and other participants in the Programme are paid N65,000 per month, the CCT also targets one million Nigerians who would receive N65,000 monthly payments as a form of social safety net.
All 36 states are mapped out for coverage in this Program and already, many of the beneficiaries were reported to have started receiving their first payments by Friday last week.