It’s important to note that this grant is not a business loan but rather a one-time payment to support the beneficiaries in setting up their businesses or expanding their existing businesses.
The NSIP is a social intervention program designed to tackle poverty, unemployment, and social exclusion in Nigeria. The program is focused on four key areas, including the NISDP, the RUWASSA, the Conditional Cash Transfer (CCT), and the Government Enterprise and Empowerment Programme (GEEP).
Federal Government Loans List For 2024
Under the NISDP, beneficiaries receive training in various technical and vocational skills to enable them to start their businesses or work in existing ones. Similarly, under the RUWASSA, women in rural communities receive training in various skills to enable them to earn a living and support their families.
The N130 million grant disbursed by the government is part of its efforts to support the beneficiaries of the NISDP and RUWASSA in setting up their businesses and becoming self-reliant.
It’s important to note that the grant is not a business loan and doesn’t have to be repaid. Beneficiaries are free to use the funds to purchase equipment, raw materials, or any other items needed to start or expand their businesses.
The government’s decision to provide grants instead of loans is commendable as it allows beneficiaries to focus on growing their businesses without the burden of debt repayment.
In conclusion, the disbursement of N130 million grant to 6,511 beneficiaries of the NISDP and RUWASSA under the NSIP is a welcome development. The grant will go a long way in supporting the beneficiaries in setting up their businesses or expanding their existing ones, thereby reducing poverty and unemployment in Nigeria. It’s important for the government to continue to support the NSIP and other social intervention programs to enable more Nigerians to benefit from them.