According to Npower News today Friday 24th May 2024, a video has surfaced online, in this video a beneficiary of Npower was seen talking about Npower payment to Npower batch c beneficiaries, kindly note that this was said in Hausa language.
Recall that in previous videos, the Npower representative for the National Social of Npower had said that Npower payment will start by June and the suspension of Npower will be lifted this month.
Kindly watch attached video below
Video Credit: NPOWERTV
According to Npower News, the Federal Government of Nigeria, through the Federal Ministry of Industry Trade and Investment and Bank of Industry, is disbursing ₦50,000 federal government grant to micro small and medium enterprises across all 774 Local Government Areas(LGAs) through the federal government grant.
According to Npower News, applicants yet to receive the federal government grant are advised to exercise patience until the 31st of May when the final federal government grant disbursement will be made, applicants that applied after the federal government grant deadline will not receive the federal government grant, applicants that failed to update their NIN details will not receive the federal government grant, applicants that applied when the NIN column was not provided on the federal government grant portal and yet refused to update their NIN will not receive the federal government grant.
Video Credit: BOINigeria
The Frequently Asked Questions below is our attempt to answer common questions that the applicants may have regarding the student loan in a concise and simple to understand way.
Q. What is the Student Loan (Access to Higher Education) Act, 2024?
A. The Student Loan Act is an Act of the Parliament that makes it possible for Nigerian students to access zero interest loans to enable them pay for institutional charges and upkeep to any higher institution of their choice within Nigeria.
Q. Is the Student Loan the same as the Nigerian Education Bank?
A. No. The Student Loan Act has repealed the Nigerian Education Bank Act and established a framework for providing zero interest loans to eligible Nigerian students who desire to study at any institution of higher education.
Q. Who administers the student loan?
A. The student loan will be administered by the Nigerian Education Loan Fund (NELFUND), which is the body established by law to carry out the day-to-day activities of the Fund. It is headed by a Managing Director, appointed by the President of Nigeria, President Bola Ahmed Tinubu.
Q. Is the student loan open to all tertiary institutions?
A. The student loan is open to all public tertiary Institutions. The first phase of the student loan is open to only students studying or desiring to study in federal higher institutions in Nigeria. The other phases will be announced in due course.
Q. Who is eligible to apply for student loan under this Act?
A. Students who have secured admission into all Public Nigerian universities, polytechnics, colleges of education, or vocational schools, with a proof of admission that includes Name, Date of Birth, Admission, JAMB number, Matriculation number, and BVN.
All new and existing students within the institution above can apply for the student loan.
Q. Can a Direct Entry Student into higher institutions apply for the student loan?
A. Yes, but such student must have a JAMB number.
Q. Will the student loan be available for all students or only applicants?
A. All full-time students are eligible for the student loan but only applicants will benefit from the student loan.
Q.. How much student loan are students allowed to apply for?
A. That would be determined by the institutional charge of each Institution. The student loan will cover the cost of institutional charges and upkeep if required by the student. The institutional charges will be remitted directly to the applicants’ institutions and the upkeep will be paid to the applicant on a monthly instalment basis.
Q. Will the applicant be required to make any payment before the student loan is disbursed?
A. No payment is required before the disbursements of the student loan.
Q. Is there an interest payable on the student loan?
A. Zero interest on the student loan.
Q. Is the student loan open to every student?
A. The student loan is open to new and existing full-time students in tertiary institutions.
Q. How are the student loan applications processed, and what is the disbursement timeline?
A. Applications are done online. Applicants are required to input specific personal details that include:
i. Name of Institution of study
ii. Admission Number
iii. JAMB Number
iv. Date of Birth
v. NIN
vi. BVN
Nigerian Education Loan Fund (NELFUND) will disburse within 30 days of approval of successful applications.
Q. Is there age limit for applicants of the student loan?
A. There is no age limit for applicants of the student loan.
Q. Who is responsible for the student loan repayment?
A. The beneficiary of the student loan is responsible for the repayment of the student loan.
Q. Is the student loan applied for only once?
A. The student loan will be applied for every academic session by the student.
Q. How do applicants for the student loan know their application is approved?
A. Applicants for the student loan will receive a notification and the status of the student loan application can be seen in the applicant’s profile on the student loan portal.
Q. When is the student loan due for repayment?
A. The student loan is due for repayment 2 years after the completion of NYSC.
Q. What happens if a beneficiary does not have job after two years post-NYSC?
A. The beneficiary of the student loan should notify Nigerian Education Loan Fund (NELFUND) by sworn court affidavit every 3 (three) months after two years post NYSC if still unable to gain employment.
Q. How can one apply for the student loan?
A. Applicants are to visit http://nelf.gov.ng to apply for the student loan.
The Bank of Industry (BOI) Rapid Loan for Micro Small And Medium Enterprises (MSMEs) application is currently ongoing.
Applicants having difficulties accessing the BOI application portal, should keep trying preferably at off-peak period when the traffic congestion on the portal has reduced.
Frequently Asked Questions About BOI Rapid Loan For MSMEs:
Q. Who is eligible to apply for the RAPID Programme?
A. Duly registered Enterprises and Cooperative Societies operating in rural or economically disadvantaged areas of Nigeria are eligible to apply.
Q What types of businesses does RAPID support?
A. RAPID shall provide support in value-adding activities excluding trading and farming. These include activities in manufacturing, agribusiness, processing, and other ventures contributing to economic diversification and job creation in rural areas.
Q. What financial support does RAPID provide?
A. Beneficiaries would be eligible for a loan of a maximum of ₦10,000,000 to acquire plants/machinery and raw materials for their day-to-day operations.
Q. What can the funds be utilized for?
A. The funds can be used for term loans to purchase assets and equipment required for production and working capital for raw materials required for business operations.
Q. What is the interest rate of the loan?
A. The facility is given at a 5% per annum interest rate (all-inclusive).
Q. What are the repayment terms for RAPID loans?
A. Repayment is typically monthly or in line with the business cycle where expedient. The average tenor for loans is three (3) years, including a three (3)to six (6)-month moratorium period from the date of loan disbursement.
Q. How can I apply for the BOI RAPID Loan Programme?
A. Interested applicants can apply online through the BOI RAPID loan application portal https://rapid.boi.ng
Creating An Account For The Student Loan Application
Step 1: Applicant for the student loan should visit http://nelf.gov.ng
Step 2: The applicant should click click on the "Apply Now"
Step 3: The Applicant for the student loan should Click on “Get Started”
Step 4: The applicant should answer the questions on the student loan portal to continue by clicking on “Yes, I am a Nigerian”
Step 5: The applicant for the student loan should verify his or her educational information. The applicant would be required to select his or her school from a dropdown and provide his or her matric number to check if his or her school has uploaded his or her details.
Step 6: The applicant should Click the “Verify with JAMB” and enter his or her JAMB details in the screen.
(Students whose NIN has not been registered with JAMB will have an input field where they can enter their NIN for verification.)
Step 7: The applicant should create an account by entering his or her Email address, Password and Confirm Password in the fields provided and click “Create Account”.
Step 8: The Applicant should click the email verification link sent to his or her email.
This concludes the process of creating an account for the student loan application.
5 Steps To Complete Your Profile For The Student Loan Application
After successful registration, log in by clicking the “LOGIN” button.
Step 1: The applicant should enter his or her email address and password to Login.
Step 2: The applicant should click on the “Proceed to Contact Details" button.
Step 3: The applicant for the student loan should update his or her contact details with the current information of his or her Phone Number, Full Residential Address, State of Residence and Local Government Area of Residence and click “Proceed to Educational Details”
Step 4: The applicant should update his or her educational details by selecting his or her Higher Institution and inputting his or her Matric Number, then click “Proceed to Account Details”
Step 5: The applicant should verify his or her BVN by entering his or her BVN, select his or her Bank Name and enter his or her Account Number. Click “Save Changes” to complete your profile.
5 Steps To Complete The Student Loan Application
The following below are 5 steps to complete the student loan application:
Step 1: The applicant should Click on the “Request for Student Loan” button at the top right of the screen on the home or loans page after logging into the student loan application.
Step 2: If the applicant wants an upkeep loan, the student loan applicant should click the check box, and click Continue, if all applicant need is the institutional charge, click the “Continue” button.
Step 3: The applicant for the student loan should upload all supporting documents. The admission letter is compulsory while the Student ID and Institution Invoice are not compulsory that is optional.
The student loan applicant should click the checkbox for the policy and declaration and click “Continue”
Step 4: The student loan applicant should carefully read the student loan overview and click the check boxes for both the Terms & Conditions and GSI Mandate then click “Submit Application”
Step 5: The applicant for the student loan should click on the “Loans” button to view the status of his or her student loan application.
The Renewed Hope Cities And Estate Loan Programme is a development agenda of the Federal Government of Nigeria for tackling Housing needs. This housing loan program captures all thirty six States including the FCT.
The pilot programme sees to build one hundred thousand completed housing units all over the federation which are to be sold to low and medium-income groups through outright purchase, mortgage and rent to-own subscription windows.
Who Can Benefit From This Housing Loan Programme?
This housing loan programme is for Nigerians at home or in diaspora, particularly those within the low and medium-income groups who cannot afford housing example civil servants, traders, artisans, commercial drivers, etc.
How Does The Housing Loan Programme Work?
1. Sign up : To be able to buy outrightly or get a mortgage you have to create an account first.
2. Find Property : Use the search function to find properties that match your preferences (location, developer, price, type, etc.).
3. Select Property : Click on a property for more details. Review the property's photos, description, and specifications.
4. Choose Payment Method : Decide whether to purchase the property outright or apply for a mortgage.
5. Make Payment : Make required payments into the account prov, for you on your portal.
Who Can Apply For This Housing Loan Programme?
Adults above 18 years can apply for this housing loan, have a verifiable means of income or employment and a contributor to National Housing Fund and must comply with the terms and conditions of sale including completing online applications.
What Document Do You Require To Register Online For The Housing Loan?
To register online for the housing loan program you require only a valid means of identification which could be your voters card, your NIN printout, valid international passport, or a driver's license.
How to Apply for the housing loan: Interested and qualified applicants should visit https://renewedhopehomes.fmhud.gov.ng
According to Npower News today May 23rd 2024, the House of Representatives has called on the Federal Government of Nigeria to commence Npower payment and other National Social Investment Programs to reduce the economic hardship faced by vulnerable Nigerians.
According to Npower News, the suspension Betta Edu the ex-Minister for Humanitarian Affairs and Poverty Alleviation and the removal of the National Coordinator of the National Social Investment Programme Agency Ms Halima Shehu have further increased the suffering faced by beneficiaries of Npower.
The House of Representatives stressed the need for stability, development, and equitable wealth distribution among citizens.
The House of Representatives also criticized the planned steering committee Board overseen by the Minister of Finance, as Npower was an act of Parliament that requires legislative amendment before it could be supervised by another body.
The House of Representatives pleaded with the Federal Government to speed up the ongoing investigation of the Minister of Humanitarian Affairs and Poverty Alleviation Betta Edu and put on hold the planned establishment of the Steering Committee Board to oversee the Npower and other National Social Investment Programmes.
According to Npower News, President Bola Ahmed Tinubu suspended the National Social Investment Programme (NSIP) in February 2024, which includes Npower, conditional cash transfers, GEEP program, and National Home Grown School Feeding Programme school.
The suspension of Npower and other National Social Investment Programmes by President Bola Ahmed Tinubu was as a result of concerns with respect to misappropriation of public funds and how Npower and other National Social Investment Programmes were being operated.
Regrettably, Npower payment to beneficiaries of Npower batch c are on hold during this suspension and ongoing investigations, though their are reports that Npower will resume this month and Npower payment will commence next month.
According to Npower News on Npower registration portal 2024, beneficiaries of Npower and prospective applicants of Npower should kindly note that Npower registration for 2024 has not started yet. Npower was suspended by President Bola Ahmed Tinubu months ago and Npower according to sources will resume very soon. Npower registration cannot start when series of investigations are being conducted in the Ministry for Humanitarian Affairs and Poverty Alleviation.
According to Npower News, beneficiaries of Npower and Npower applicants should be mindful of this fake Npower registration portal https://npower-fmhds-gov-ng.web.app/ see image below, this Npower portal have been telling Npower applicants to complete an Npower examination so that they can get their deployment letters, please this Npower portal is not real and completely fake, Npower applicants should be aware of this.
According to Npower News, Npower registration cannot start when beneficiaries of Npower batch c are being owed 9 to 12 months stipends, until these Npower payment is made to Npower batch c beneficiaries, Npower registration 2024 cannot start, when Npower registration starts it will be done under the National Social Investment Programmes Agency's website.
According to Npower News May 22nd, the National Social Investment Programme's National Coordinator is Mr Wale Edun and Alhaji Atiku Bagudu, President Bola Ahmed Tinubu suspended all National Social Investment Programmes (NSIP) since January 2024 with this suspension
Npower, National Home Grown School Feeding Programme, Geep, 2.0, and the conditional cash transfer beneficiaries will have to exercise patience until the suspension is lifted before they receive their payment.
According to Npower News Betta Edu, Sadiya Umar Farouk and Halima Shehu are all under investigation by the Economic and Financial Crimes Commission (EFCC) untill now the investigation has not been concluded and the result of the investigation is not yet out.
For now only the conditional cash transfer (CCT) has been lifted by President Bola Ahmed Tinubu for payment of ₦25,000 for three months to 12 million household across the federation, other social investment programmes will be lifted when the investigation in the Ministry is concluded, investigation will be concluded very soon.
According to Npower News, President Bola Ahmed Tinubu assured all Nigerians that his administration remains committed to a swift and unbiased process that will ensure that, going forward, the social intervention programmes will work exactly as intended, to the benefit of the most vulnerable Nigerians.
According to Npower News, beneficiaries of the federal government grant can check their payment status on the federal government grant portal at https://grant.fedgrantandloan.gov.ng/.
Many beneficiaries of the federal government grant have already received their ₦50,000 federal government grant from the Federal Government as palliative while other applicants are still waiting for their payment of the federal government grant.
As stated by the Minister for Industry, Trade and Investment Doris Nkiruka Uzoka-Anite one million beneficiaries will be paid the federal government grant across all the 774 local governments of the federation, that is a total of 1,290 people per local government.
According to Npower News as soon as the federal government grant disbursement process is complete all beneficiaries will be listed on the federal government grant portal. The disbursement process for the federal government grant is ongoing and by next week Friday May 31st all selected beneficiaries will all received their federal government grant.
At the moment the public can access the number of beneficiaries paid per each 774 local governments of the federation and also applicants can check their payment status with respect to the federal government grant. If an applicant is being paid the federal government grant his or her Name, State, LG, amount paid and payment status will appear on the website, but if applicant is yet to be paid the federal government grant the result will show blank on the federal government grant portal.
How to Check The Federal Government Grant Payment Status
1. Beneficiaries should visit the federal government grant portal at https://grant.fedgrantandloan.gov.ng/
2. Beneficiaries should click on 'View Beneficiaries'
3. Beneficiaries should search the name of the local government he or she applied with. This will show you the number of beneficiaries paid in your local government.
4. To check your federal government grant payment status, input your BVN in the space provided for that.
5. If you have received your payment, all details and your payment status will appear under the columns, If you are yet to be paid you will see blank under the columns.
According to Npower News the federal government grant is ongoing and payment will continue up to the end of the Month.
Many candidates do not know that they have received their federal government grant because in many cases the federal government grant entered their account without credit alert, applicants are advised to check their account balance frequently.
Candidates who received the below text message from the Bank of Industry (BOI) should know that they have been paid their federal government grant and it is either they did not check their account balance or their banks are having network issues.
Dear XXXXXXXXC, Congratulations! You have received N50,000 grant from the Presidential Conditional Grant Scheme (PCGS) through the Federal Government of Nigeria Presidential Palliatives Intervention. For additional enquiries call 07000551111
And candidates who received the above text message should be rest assured that they are part of the beneficiaries to received their federal government grant provided that they validated their NIN.
For the Federal Government Grant application verification. Visit https://grant.fedgrantandloan.gov.ng/auth/nin/register to update your NIN.
The federal government grant portal is
https://grant.fedgrantandloan.gov.ng
According to Npower News, Nasir Ayitogo Media and Public Relations Lead Nigerian Education Loan Fund (NELFUND) in a new publications threw more light with respect to state institutions not included in the student loan. Read statement below.
The management of Nigerian Education Loan Fund (NELFUND) has noticed the publication of misleading information on social media claiming that the student loan is solely for federal institutions. NELFUND categorically state that this information is incorrect.
State institutions are unequivocally by law included in our student loan. The student loan is designed to roll out in batches in order to ensure effective and efficient management of the process.
The first batch for a start will focus on students attending federal institutions.
The second batch, which will be launched shortly after the initial rollout, will extend the student loan to students at state institutions.
Nigerian Education Loan Fund (NELFUND) is fully dedicated to providing financial assistance to all eligible students, regardless of whether they attend Federal or State tertiary or public institutions.
According to Npower News, the vision of President Bola Ahmed Tinubu's Renewed Hope Agenda is to make sure that all aspiring students have access to the financial resources necessary to accomplish their academic pursuits, goals and aspirations.
About Greenpeg Nigeria Limited Greenpeg Nigeria Limited offers engineering, procurement, construction, installation, operations and mainten...
