Federal government has approved the sum of N4, 500 for each of the 200,000 beneficiaries of N-Power Volunteer Corps jobs for the purchase of an enhanced electronic device.
The device would be loaded with different applications that would further improve the skills of the beneficiaries and afford them additional training opportunities during the two-year duration of the job program.
Also, a total of 149, 669 Nigerian graduates of the 200,000 are now collecting their monthly stipends of N30,000 monthly having been physically verified and deployed across the 36 states and FCT.
Mr. Laolu Akande, the Senior Special Assistant on Media and Publicity to Vice President Yemi Osinbajo made the disclosure while giving update on the Social Investment Programmes of the present administration.
According to Akande who issued a statement, the device grant was in conjunction with the Bank of Industry (BoI) which has extended an asset finance of 20 months to each of the 200,000 N-Power beneficiaries.
He explained: “While each of the beneficiaries after being verified would select their choice of device amongst nine different BOI pre-approved vendors, the price ranges from N3,000 to N6,700 monthly deductions for the next 20months.
“Therefore in some cases the N4,500 device grant would cover the full monthly deduction cost while in other cases the graduate authorizes BOI to deduct the additional differential cost from their monthly stipends depending on the device chosen.”
The Vice President’s Spokesman also noted that “6 of the 9 BOI pre-approved vendors are indigenous local brands in pursuit of the Buhari administration’s push for Local Content.”
The device would be loaded with different applications that would further improve the skills of the beneficiaries and afford them additional training opportunities during the two-year duration of the job program.
Also, a total of 149, 669 Nigerian graduates of the 200,000 are now collecting their monthly stipends of N30,000 monthly having been physically verified and deployed across the 36 states and FCT.
Mr. Laolu Akande, the Senior Special Assistant on Media and Publicity to Vice President Yemi Osinbajo made the disclosure while giving update on the Social Investment Programmes of the present administration.
According to Akande who issued a statement, the device grant was in conjunction with the Bank of Industry (BoI) which has extended an asset finance of 20 months to each of the 200,000 N-Power beneficiaries.
He explained: “While each of the beneficiaries after being verified would select their choice of device amongst nine different BOI pre-approved vendors, the price ranges from N3,000 to N6,700 monthly deductions for the next 20months.
“Therefore in some cases the N4,500 device grant would cover the full monthly deduction cost while in other cases the graduate authorizes BOI to deduct the additional differential cost from their monthly stipends depending on the device chosen.”
The Vice President’s Spokesman also noted that “6 of the 9 BOI pre-approved vendors are indigenous local brands in pursuit of the Buhari administration’s push for Local Content.”
