The Federal Ministry of Humanitarian Affairs, Disaster Management and Social Development has disclosed that the exited Batch A and B Npower beneficiaries can access loan amount up to N3million each under the NEXIT/CBN Agri-Business Small and Medium Enterprises Investment Loan Scheme (NEXIT/CBN AGSMEIS Loan), with 7 years loan term if they qualify.
The Honourable Minister, Sadiya Umar Farouk made this known during the flag off ceremony of the NEXIT Loan Training held on Monday at the Press Centre, Radio House, Abuja.
Farouk stated that out of 467,183 trainees who indicated interest for the NEXIT Loan, 75,600 will participate in the first Batch of the NEXIT Loan Training across the 36 States plus FCT, which will prepare them for the loan if they qualify.
"Out of 467,183 trainees who indicated interest, 75,600 will participate in the first phase of the orientation programme expected to lead up to collection of loans of up to three million Naira from the Central Bank of Nigeria if they qualify," the Minister stated.
To qualify for the NEXIT Loan, read this article: Criteria for partaking in the NEXIT Loan Training and Accessing the NEXIT Loan Business Financing
The Minister who was represented by the Permanent Secretary, Bashir Nura Akali in the ceremony noted that the NEXIT Loan Training in Batches is to ensure ease of coordination, adding that her Ministry and its collaborative Partners will continue to train the remaining beneficiaries in no distant time.
"It has been my desire that the exited batches A and B N-Power graduate beneficiaries will not be left unattended to. In different channels,I kept on assuring these teaming youths that the Ministry of Humanitarian Affairs, Disaster Management and Social Development has worked very closely with the Central Bank of Nigeria to realize this dream.
"Today marks the beginning of the fulfilment of this awaited training that will enable those beneficiaries that indicated interest to participate in the CBN empowerment programme.
"For ease of coordination, this training programme will be conducted in phases. Let me also inform you that all the 36 States and FCI are participating in this long awaited NEXIT training programme. A total of 75,600 participants are in this first batch of the training. We will continue to train the remaining batches in no distant time.
"The Federal Ministry of Humanitarian Affairs, Disaster Management and Social Development is committed to ensuring that the strategic objectives of all the social intervention programmes are harnessed to achieve the desired goals and objectives.
"The N-Power programme is a critical part of the National Social Investment Programmes domiciled in the Federal Ministry of Humanitarian Affairs, Disaster Management and Social Development designed to achieve the National objectives of poverty reduction and job creation. The N-Power programme is key to helping young Nigerians acquire and develop life-long skills that ensure they become solution providers and entrepreneurs in their communities", Farouk stated.
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