NSIP: GEEP Loans – Beneficiaries To Receive N300,000 Cash Grants – Disbursement of cash grants for NSIP, GEEP Loan begins. The Federal Government has begun the disbursement of Cash Grants for beneficiaries.
The programs and the Digitized Payment for Conditional Cash Transfer were both launched on Saturday, September 10, 2022, in Owerri by the Minister of Humanitarian Affairs, Disaster Management, and Social Development, Sadiya Umar Farouq.
NSIP: GEEP Loans – Beneficiaries To Receive Cash Grants
A N20,000 one-time cash grant for vulnerable groups in Imo will be given to at least 3,894 recipients across the state’s 27 local government areas, according to a statement made on Saturday by the Special Assistant on Media, Nneka Ikem Anibeze, while approximately 4,738 recipients were chosen for interest-free loans through the Government Enterprise Empowerment Programme (GEEP).
GEEP Loans – Beneficiaries
The beneficiaries would receive loans ranging from N50,000 to N300,000 for farmers, petty traders, widows and youths.
In her words: “Today, l have come to roll-out the programme in the “Land of Hope” Imo State. Hence, successful beneficiaries of the GEEP proagramme will start receiving credit alerts from Access bank by God’s grace.
“This is a programme designed by President Muhammadu Buhari administration for vulnerable and low-income Nigerians, who are involved in some sort of commercial activity or capacity, but have never had the opportunity to access loans.
“It is meant to give priority to the most vulnerable in our society eg widows, youth, disabled and the displaced amongst others.”
Sen. Hope Uzodinma, the governor of Imo state, commended President Muhammadu Buhari for the excellent empowerment initiatives, calling them “life-touching,” while responding.
In order to mitigate the effects of banditry and insecurity in the state, the governor requested extra Social Empowerment Program slots for Imo.
He stated: “We have felt the impact of the National Investment Programmes of the Ministry of Humanitarian Affairs. We are appreciative of the efforts of the Ministry in making sure that President Buhari’s dream of lifting 100m Nigerians out of poverty is realized.
“We also appeal to you to increase the number of beneficiaries in Imo state. Lately, the poverty index in the state increased due to banditry and insecurity.“
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About NSIP: GEEP Loans – Cash Grants
The GEEP 2.0 was also introduced in Abia state by the minister, who was represented by Mrs. Nkechi Onwukwe, the director of special needs.
As Cash Grants to Vulnerable Groups, 3,107 people will each receive N20,000, while 27 Independent Monitors were onboarded in the state of Abia and handed engagement letters and monitoring equipment.
“While the target of this Cash Grant project is to increase income and productive assets of the target beneficiaries, it is highly expected that the beneficiaries will use the grants to improve their productivity, create wealth, generate employment and improve their living standard,” Umar Farouq stated.