Npower: Buhari’s $22.7B Loan Spending include $800M for NSIP-Npower
Npower: The Nigerian senate had approved Buhari’s $22.7 billion loan request after years of rejection by previous assembly.
The borrowing $22B is meant for infrastructural development, ranging from railway, roads, etc. The Cable recognizes Nigeria’s civic debt summary stands at N26.215 trillion as of September 2019.
The approved Buhari’s $22.7 billion loan request will be used to finance about 35 projects, many of which are infrastructural.
A handful of the $22.7 billion loan request will be used to Social Investment, where the lives of the citizens will be improved, and thereby lifting millions from poverty.
New Social Investment Programmes will be spring-up, the Federal Government will pave way for North-east Nigeria integrated social protection, basic health, education, nutrition services and livelihood restoration project, National Social Safety Net Project ($500m, nationwide) and Multi-sectorial crises recovery programme, all embedded in the Social Investment
Where Will FG Source this Money?
More than 70% of the money will emanate from the Exim Bank of China, while the remaining funds will come from the World Bank, Africa Development Bank among others.
Islamic Development Bank ($110m)
Japan International Cooperation Agency ($200m)
German Development Bank ($20m)
French Development Agency ($480m
Exim Bank of China ($17bn)
World Bank ($2.95bn)
Africa Development Bank ($1.88bn)
How will FG Spend this Money ?
The Federal Government has released a blue print on how this money will be spent, a breakdown of the national spending plan shows:
NATIONAL SOCIAL INVESTMENT PROGRAMME
- North-east Nigeria integrated social protection, basic health, education, nutrition services and livelihood restoration project ($100m; north-east)
- National Social Safety Net Project ($500m, nationwide)
- Multi-sectorial crises recovery programme ($200m, north-east)
- National Information and Communication Technology Infrastructural Backbone Project (NICTIB) phase II ($328.1m; Lagos, Abuja, Ibadan, Akure, Maiduguri, Lokoja, Kaduna, Akwanga, Bauchi, Kano, Katsina)
- NTA digitisation project ($500m; nationwide)
- Staple crops processing zone projects (2) (500m; nationwide)
- Staple crops processing zone support project ($100m, Kogi)
- Agriculture Transformation Agenda Support Project II (ATASP) ($200m, nationwide)
Npower: Buhari’s $22.7B Loan Spending include $800M for NSIP (N-power)
- Rural water supply and sanitation ($150m; north-east, and Plateau)
- Greater Abuja water supply project ($381m; FCT)
- Regional disease surveillance systems enhancement project in West Africa ($90m, nationwide)
- Health System Project ($110m, Katsina)
- Institutional strengthening and implementation of policy reforms ($33.7m, min. of works and housing)
- Fiscal Governance and Institutions Project (FGIP) ($200m, government institutions)
- Integrated programme for development and adaption to climate change in the Niger Basin ($6m; Nigeria and Niger)
- Development of the mining industry ($150m, nationwide
- Lake Chad Basin Commission ($13m, multinational)
- Better Education Service Delivery for All (BESDA) ($500m, nationwide)
- Nigeria Housing Finance Project Guarantee Scheme ($100m; national)
- Lagos-Kano railway modernisation project (Ibadan-Kano segment double track) ($5.53bn; Ibadan-Kano states)
- Railway modernisation coastal railway project (Calabar-Port Harcourt-Onne deep sea port segment ($3.47bn; Cross River and Rivers states)
- Emergency road rehabilitation and maintenance ($434.7m, nationwide)
- Abidjan-Lagos corridor highway development project study ($1.5m; multinational) – Abuja mass rail transit project (phase 2) ($1.25bn; FCT)
- East-west road ($800m; Niger Delta)
- TCN overall transportation system enhancement project ($200m; nationwide)
- Mambila hydro-electric power project ($4.8bn; Taraba)
- Nigeria Electricity Transmission and Access Project ($364m; nationwide)
- Power transmission project ($200m; Lagos, Ogun)
- Vocational training in power sector ($50m; FCT, Lagos, Ogun. Kano, Plateau, Niger, Enugu, Kaduna and Cross River)
- Development finance project (2) ($450m, min. of power)
- Development finance project (3) ($20m, nationwide)
- MSMEs project ($1.28bn; nationwide)
- Development finance project ($500m, nationwide)
- Kaduna state economic transformation program for results ($35m, Kaduna)
N90B Loan for N-agro, robust exit package for other beneficiaries-Afolabi
Npower: the Federal Government through the Ministry of Finance and the Central Bank of Nigeria CBN) have earmarked a robust sum of Ninety Billion Nigeria Naira (N90B) as a loan strategy for the N-Agro segment of the N-power Programme
This was made known by the Mr. Afolabi in Wednesday Facebook live chat, the senior special adviser to the president on Job creation stated that, the loan will be made available very soon to exiting batch of the programme
It could be recalled, the Buhari led administration vowed to diversify the Nigerian Economy from oil-based to other sectors including Agriculture. By this act, the Federal Government is on the right tract on “getting-things-right”
The N-agro is a very influential programme in the N-power programme, poised to train and retrained youthful minds of the importance of Agriculture, how to earn a living, and being employer of labor after feeding the vast population. https://myeduproject.com.ng/npower-hope-rekindled-as-rep-moves-for-permanency-of-all-volunteers
N90B Loan for N-agro, robust exit package for other beneficiaries-Afolabi
According to UNESCO, Africa on a verge of going hungry, if care is not given to food security in the continent, this the government is not relenting, feeding the vast and ever growing population of Nigeria is a mission that must be accomplish
How will this loan be executed is what we don’t know for now, but what we do know is that, there is already a 90 billion naira funds, kept in the vault for N-Agro. And this fund/Loan will be given to all N-Agro Beneficiaries in a free and fair manner.
This is a dream come through and a big thanks goes to the federal government (the initiator of the programme), beneficiaries now have a sense of belonging at an eventual exit
When this loan is evenly distributed, implemented and the strictly monitored, beneficiaries will not only feed the nation, reduce hunger in the land but be an employer of labor
The FG is in talk with state Government for a robust exit package for other beneficiaries
In another development, the Mr. Afolabi in Wednesday’s Facebook live chat revealed that, the federal government is collaborating with the state government for a vigorous exit package to other segment of the N-power programme.
It could be recalled, sometimes last year, talks with the state governments reached a concluding and dynamic point, where some governors promised to permanent some beneficiaries in their various states. But some states are reluctant on the matter, giving rise to fears and uncertainty.
The government at the center had plan B, an exit package that will see the fortune of all, is on the pipe, the N-teach, N-health etc. are much on course with better plan, the exit package will be reveal at the tail end of 2020.
We may start seeing states government giving permanent appointment letters to N-teach beneficiaries in some states of the federation, this is because, most of the state-owned schools are under-staffed. A situation that need argent redress
To this end, Mr. afolabi or the Federal Government is not promising to permanent beneficiaries, to note and be guarded. It is collaboration with the private and state government.