No fewer than 149, 669 Nigerian graduates out of the 200,000 engaged by the Federal Government under the N-Power Volunteer Corps have started receiving the monthly stipend of N30, 000.

They have been physically verified and deployed across the 36 states and the FCT.

Laolu Akande, a Senior Special Assistant on Media & Publicity to the Vice President made this disclosure while giving an update Tuesday on the Social Investment Programmes of the Buhari administration.

In a statement, Akande noted that the Federal Government had also approved an additional N4500/monthly to all the 200,000 N-Power beneficiaries to purchase an electronic device which would be loaded with different applications that would further enhance the skills of the beneficiaries and afford them additional training opportunities during the two-year duration of the job program.

According to him, “this device grant is in conjunction with the Bank of Industry (BoI) who has extended an asset finance of 20 months to each of the 200,000 N-Power beneficiaries.

“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 N4500 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,” he said.

Akande further noted that 6 of the 9 BOI pre-approved vendors were indigenous local brands in pursuit of the Buhari administration’s push for Local Content.

Author: Yemi Olarinre