In attempt to address the challenge of youth unemployment, Federal Government has budgeted N420 billion for the National Social Investment Programmes (NSIP) in the 2021 budget.
This will increase the number of Npower beneficiaries by 50,000 in 2021 by providing a structure for large scale and relevant work skills acquisition and development while linking its core and outcomes to fixing inadequate public services and stimulating the larger economy.
The budget comprises a total recurrent expenditure of N350 billion and N50 billion for capital spendings. More than half of the total proposal for recurrent expenditure (that is 52.6 per cent) would be used for the implementation of programme components of the Job Creation Unit (JCU), including N-Power and Innovation Hubs.
Currently, 500, 000 trained graduates who were engaged to improve the inadequacies in the public services in education, health and civic education have concluded their service and has been exited to benefit from other government oppotunities. 400,000 new batch of Npower volunteers will soon be Enroll to also benefit from the programme.
However, N35.8 billion has been billed to be expended on the GEEP – comprising marketmoni, tradermoni and farmermoni – for recurrent costs and capital spendings, which includes loan funds and the “programme’s setup and technology.”