N-Power Stipend Delay Unveiled: Director Reveals Fund Reallocation Challenges
Saturday 16 December 2023
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In the latest N-Power update, the Director of Finance and Account at the National Social Investment Programmes (NSIP) in the Federal Ministry of Humanitarian Affairs and Poverty Alleviation has illuminated the causes behind the delay in disbursing beneficiaries' stipends. During a recent budget defense session, the director expounded on the redirection of funds earmarked for N-Power stipends to other ministries, causing disruptions in the payment timeline.
Key Insights from the Director's Report:
- Reallocation of recurrent funds from the Social Investment office.
- Significant N127 billion redirected from the social investment office, specifically allocated for N-Power stipends.
- Category 1 (C1) beneficiaries received a comprehensive 15-month stipend covering the 12-month service year and a 3-month exit package.
- Category 2 (C2) beneficiaries received stipends for the period from October to December 2023.
- N-Power Batch C2 beneficiaries are awaiting 9 months of stipends from January to September 2023.
- A total of 440,000 eligible beneficiaries are awaiting these stipends. CONTINUE READING.....
Ministry's Financial Challenges:
The director pinpointed challenges in acquiring funds for the N-Power program, attributing them to the delayed payments. The Ministry is actively seeking additional funds to fulfill outstanding stipends for N-Power Batch C2 beneficiaries.
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Minister's Previous Declarations:
While the Minister had previously hinted at the retrieval of funds and imminent payments to beneficiaries, the director's detailed explanation sheds light on the financial challenges faced by the Ministry in overseeing the N-Power program. CONTINUE READING.....
Insightful Video Explanation:
For a more in-depth understanding, a video featuring the director's comprehensive explanation on the issue can be accessed HERE. Despite hurdles, the Ministry remains committed to resolving the situation and ensuring the timely disbursement of stipends.
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