Bayelsa State confirms receipt of N10.8 billion from the Federal Government's N570 billion NG Cares Fund

 

The Bayelsa State Government has verified that it received N10.8 billion from the Federal Government's N570 billion NG Cares Fund, which is allocated to all 36 states as part of the NG Cares program. This fund, administered with the World Bank, is intended for social interventions, including agricultural support and aid for vulnerable groups.

Mr. Timipre Seipolu, Technical Adviser to the Bayelsa Governor on Treasury, provided this confirmation on Monday. He also detailed the state’s financial activities for May, June, and July.

“The NG Cares program, involving the Federal Government, World Bank, and state governments, requires states to spend on various sectors such as agriculture through FADAMA. Refunds for these expenditures occur quarterly after independent verification of the projects,” Seipolu explained.

He added that support for SMEs and vulnerable individuals must follow World Bank guidelines to avoid delays in refunds. The N10.8 billion received by the state over two months represents funds used for state projects under the NG Cares program.

This announcement aligns with President Bola Tinubu’s August address, which revealed that over N570 billion had been allocated to the 36 states to enhance support for vulnerable citizens. 

In a national broadcast on August 4, 2024, amid widespread protests, President Tinubu stated that this funding was part of the federal government’s effort to support vulnerable groups. However, Ogun State Governor Seyi Makinde later clarified that this funding was actually a loan, not a grant, and each state must repay it. He explained that the funds were sourced from World Bank COVID-19 resources, with the federal government acting as an intermediary for reimbursing the states' previous COVID-19 relief expenditures. This clarification highlighted that the financial support was a repayment for earlier state commitments rather than new funding.

Federal Government Postpone ₦150,000,000,000 Loan

The Federal Government has postponed the distribution of a ₦150,000,000,000 loan intended for manufacturers and micro, small, and medium enterprises (MSMEs) until September. 

This delay was confirmed by Dr. Doris Uzoka-Anite, the Minister of Industry, Trade, and Investment, during a meeting with current and potential recipients of the Presidential Grant and MSME Presidential Loan in Calabar, Cross Rivers State, on Sunday.

The trade ministry announced that the event, organized at the request of Cross River State Governor Prince Bassey Edet Otu, provided a platform for the Federal Government to engage directly with those benefiting from President Bola Ahmed Tinubu’s economic initiatives.

Dr. Uzoka-Anite revealed that 660,320 nano beneficiaries, which accounts for over 60% of the 1 million targeted recipients, have already received their funds across Nigeria’s 774 local governments. She noted that loan distributions for manufacturers and MSMEs would begin next month, following the review of over 700,000 applications.

She emphasized that the Presidential Loans and Grant Scheme aims to not only provide financial aid but also to restore hope and improve lives, affirming the government’s dedication to its social commitments. 

Governor Bassey Otu praised the Federal Government’s efforts, noting the significant positive impact on small businesses and individuals in Cross River State.

The Presidential Conditional Loans and Grant Scheme is a ₦200,000,000,000 program, with ₦125,000,000,000 allocated for MSMEs and ₦75,000,000,000 for manufacturers, designed to support growth, job creation, and overall prosperity in Nigeria. 

Over 660,320 nano beneficiaries have received their disbursements, and the remaining applicants are currently being verified. The event also featured contributions from state commissioners and Prince Michael Nku Abuo, Special Adviser to the Governor of Cross River State on Intervention and Grants, highlighting ongoing collaboration between federal and state governments in economic empowerment efforts.

Hajiya Halimat Tejuosho Adenike, a well-known philanthropist based in Abuja, emphasized on Monday that the newly approved N45 billion student loan scheme reflects President Bola Tinubu’s dedication to empowering the country’s youth.

Tejuosho made this statement in Kaduna while supporting around 600 Nigerian youths across various skills and vocations to combat unemployment and vulnerability. This initiative, spanning all six geopolitical zones of Nigeria, also aims to foster innovative 21st-century skills for self-sufficiency and livelihood support.

During the event in Kaduna, 100 beneficiaries from each geopolitical zone received items such as sewing machines, grinding engines, and hair dryers.

Through Hajiya Halimat, the CEO of QAT Foundation, Tejuosho highlighted that this empowerment event marked the 2024 World Humanitarian/International Youth Day with the theme “From Clicks to Progress: Youth Digital Pathways for Sustainable Development,” and World Humanitarian Day with the theme “The Time is Now to Act for Humanity and Protect Humanity.”

She urged Nigerian youths to be patient with the Tinubu administration, noting that meaningful changes take time. 

Tejuosho outlined that in the past year, the Tinubu administration has demonstrated its commitment to youth through the student loan scheme, with N45.6 billion already processed for payment. Additionally, over N570 billion has been allocated to the 36 states for livelihood support, and 600,000 nano-businesses have received government nano-grants, with 400,000 more expected to benefit.

She also mentioned that 75,000 beneficiaries are set to receive N1 million micro and small business loans with single-digit interest rates starting this month. The APC government has established 10 MSME hubs in the past year, created 240,000 jobs through these hubs, and is working on 5 more hubs, which are anticipated to be completed by October.

Betta Edu Media Centre has filed a formal complaint with the National Security Adviser (NSA), the Inspector General of Police, and the Department of State Services (DSS) regarding threats to their safety

 

The Media Centre recently accused the beleaguered Minister of Humanitarian Affairs and Poverty Alleviation, Dr. Betta Edu, of “use and dump” tactics and endorsed Hajiya Halimat Adejoke Tejuosho as the most suitable candidate for the ministerial role.

A press release issued on Monday by Abubakar Abdullahi Ja’afar (Kano), Halimat Muhammad (FCT), Abubakar Kayarda (Niger), Bulama Muhammad Bukar (Borno), Sani Bello Ibrahim (Katsina), Tanko Muhammad Ibrahim (Nasarawa), and Ahmad Muhammad (Taraba) stated that high-ranking officials affiliated with Dr. Edu have been threatening them and their families in response to their refusal to retract their support for Tejuosho.

The Media Centre has reiterated its appeal to President Bola Ahmed Tinubu to appoint Tejuosho and has urged the security agencies to question and document Hon. Yusi Buba, Special Assistant on Youth Mobilisation for the suspended minister, and Yusuf Raul Gombe to ensure their protection and prevent any potential harm.

The group highlighted a recent phone call from Hon. Yusi Buba on August 18, 2024, aiming to resolve the issue, which they are prepared to disclose publicly.

The Media Centre asserts that it is necessary to inform the relevant security agencies and the public about attempts by Buba and Gombe to undermine their endorsement of Tejuosho. They call on the NSA, the Inspector General of Police, and the DSS to investigate these matters thoroughly to ensure their safety.

The Media Centre remains dedicated to truth, integrity, and the welfare of Nigerians, supporting President Tinubu’s agenda to combat national corruption and rejecting any attempts at intimidation or suppression.

ANNOUNCEMENT

In light of the recent Nigerian Education Loan Fund (NELFUND) loan disbursements, we are issuing an additional notice to students from the six institutions involved in this disbursement cycle.

Students who applied for the loan between May 24th and July 17th, 2024, and have received approval on their loan dashboard, should promptly check with their respective institutions to confirm that their tuition fees have been credited.

The six institutions currently receiving disbursements are Bayero University Kano, University of Ilorin, University of Benin, University of Ibadan, University of Maiduguri, and Federal University Dutsinma.

Please be aware that loan disbursements are being conducted in batches. Students who applied after the current disbursement window will have their loans processed in future batches. NELFUND ensures that all approved loans will be disbursed transparently and on time.

Additionally, students from institutions not included in this disbursement cycle, but who have received loan approval, should remain patient. Their loans will be distributed in upcoming batches, and NELFUND is dedicated to ensuring that all eligible students receive their funds.

We urge all students to log in to their NELFUND portal to check their application status and stay updated on the disbursement process.

Npower News: Chairman of National Association of Npower Beneficiaries Not In Abuja

It appears that the Chairman of the National Association of Npower beneficiaries is not actually at Abuja, but somewhere else, and in trying to reach him he refused picking up. According to Npower Chairman Niger State, Mr. Kehinde James, "I am in Abuja, I am still expecting GMB to call me, no any Keke napep in Abuja." (See attached video below)

According to sources and analysis gathered online the National Chairman of Npower beneficiaries is likely to be in Kano state for another meeting, it seems as though the National Association of Npower beneficiaries are divided, at this juncture, one would only hope they resolve their differences soon, so that Npower batch c beneficiaries can receive their payment.

Video: Chairman Of National Association of Npower Beneficiaries At Abuja To Meet With New CEO of NSIPA

As we speak the Chairman of the National Association of Npower beneficiaries is currently at Abuja to discuss Npower payment with the new Chief Executive Officer of NSIPA Dr. Badamasi Lawal, the Npower National Chairman did a video of himself just to clear elements of doubt if actually he is at the location.

Watch video below: