Npower-NExit Stipend and Loan Structure for Batch A/B/C1/C2
The Npower program is one of the largest empowerment programs in Africa, it came into existence in 2016, today the Federal Government disclosed that over 1,000,000 are enrolled in the program
With three active batches, the Npower program has disengaged Batch A and B into what is known as the Nexit program, which is a CBN loan option meant to further enhance and transit the beneficiaries into meaningful and productive Economic ventures
It is worthy to mention that, the third batch of the program has two streams, Batch C2 and C2, the C2 is yet to come on board
For clarity, this post carefully looked at the Npower NExit Stipend and Loan Structure for Batch A/B/C1/C2
The Npower-NExit Stipend and Loan Structure for Batch A/B/C1/C2 chart may be a little confusing
The duration of the three batches is not the same, as seen in the salary chart, batch A spent 40 months, Batch spent 24 months while batch C1 and C2 will spend 12 months
The reason for this is the streamlining and re-structuring assessment, see details, and this. other non-graduate components of the program were paid the sum of N10,000 monthly, while the graduates’ category was paid N30,000 monthly
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NExit Loan Structure for Batch A and B
The Nexit loan is mainly for Batch A and B volunteers disengaged from the Npower program, this program is will be financed by the Central Bank of Nigeria (CBN).
Over 400,000 volunteers will directly benefit from this gesture. The loan is structured in such a way that, up to 3,000,000 will be given to each volunteer without interest for a long time
The Minister of Humanitarian Affairs, Disaster Management, and Social Development Sadiya Umar Farouq through her senior special Assistant on Media, Mrs. NNEKA IKEM ANIBEZE, has briefed the general public on what each volunteer will get at the end of the Nexit training program
Up to N3M CBN Loan will be given to each volunteer upon completing the compulsory training exercise. Some volunteers will be given less than that figure
Apparently, using the NYIF, ABP, and the Covid-19 loan disbursement pattern, volunteers will be given from 450,000 to 3,000,000
“The Minister of Humanitarian Affairs, Disaster Management, and Social Development Sadiya Umar Farouq has flagged off the much-awaited NEXIT/CBN Agri-Business Small and Medium Enterprises Investment Scheme for exited N-Power beneficiaries Batches A and B.“Out of the 467,183 trainees who indicated interest, 75,600 will participate in the first phase of the orientation program expected to lead up to a collection of loans of up to three million Naira from the Central Bank of Nigeria if they qualify
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