N-power: See reasons Govt will pay stipends Amidst Economy Shutdown
N-power: will gov’t pay stipends as the Economy Shutdown amidst Covid-19 Virus?
Npower: Lately the Federal Government has cut down the 2020 budget by one (1) Trillion naira, due to low oil price, currently sold for $30 per barrel, and may even sell less as the coronavirus intensified her onslaught.
The covid-19 pandemic had made the world economy slow down, while some weak and developing economies are experiencing total shutdown, many African country be enter recession in no distance time
The Nigeria Economy is no different; the government has closed the borders to contain the spread of the deadly corona virus, thus; dwindling or reducing the revenue coming from the border country
As we speak, the glut in the oil market will make oil sold for even less than $30 in the coming days, the pandemic and lack of corporation from OPEC and Russia may plung the situation of things more
The Nigerian Economy is heavily reliant on oil, more than 95% of the 2020 budget was based on the oil bench mark of $60, now that oil is sold for $30/b, it will be very difficult to for any reasonable and decent minded government to throw “plantain chips” to any recurrent expenditure that will not yield fruit
Last week, the governor of the economic-Finance minister has said, bringing new npower volunteers in to the Npower program is suspended for now, due to the covid-19 pandemic and the massive slash of the 2020 budget http://myeduproject.com.ng/npower-hope-rekindled-as-rep-moves-for-permanency-of-all-volunteers
The Minister of Finance and economic experts at the just concluded NEC meeting warned of another recession. If care is not hard heard to, we may find ourselves in a difficult situation even being the largest economy in Africa. A situation that might spell down to the standard of living
Will the Government Continue to Pay Npower Stipends Amidst Low Oil Price and a Slashed Budget?
In an interview with daily trust, Hajiya Sadiya Umar Farouq, the Ministry of Humanitarian Affairs, Disaster Management and Social Development made it known that the budget in her ministry was reduced to half, making it pretty difficult to work as minister
Given the above analyses and close observation, the situation might be difficult to conclude, there are many parameters to justify this. The Npower programme is a political programme.
That is, it is not in the constitution like the NYSC mandatory one year programme. Meaning, if the government becomes financially stretched and incapable of financing it, “the plantain chips might be withdrawn from the monkey”. See http://myeduproject.com.ng/npower-permanency-movedrop-your-signature-as-bill-goes-next-reading
See Reasons Why Npower Volunteers Will still be receiving their Stipends even if the economy shutdown
The Npower Programmes is embedded in the National Social Investment Programme (NSIP) and NSIP is under the Ministry of Humanitarian Affairs, Disaster Management and Social Development, a position that made it very difficult to stop stipends from getting into the very hands of Npower beneficiaries
The Npower Pogramme is an empowerment programme, intended to skilled-train volunteers as to become self-reliant, therefore, providing jobs for themselves and to others, this alone is a reason for the creation of the programme, stipends will continued to be paid http://myeduproject.com.ng/npower-project-permanency-send-direct-message-to-your-senator-rep
Have you ever wondered why Military and Paramilitary organizations are always paid? They are captured in the budget; yes the Npower programme is captured in the budget and has been fully provided for. In the event, the budget get slashed or reduced, Section 5 of the finance (control and Management) Act of 1958 as amended will be enforced
The Government has a Supplementary Contingencies and statutory Expenditure Warrant (SCSEW) included in the Annual General Warrant (AGW) as an additional expenditure to finance any recurrent expenditures of national interest