News
Updated: July 13, 2021

N-Power: 7 Months After Launch Of NEXIT By Buhari Administration, No CBN Intervention Has Materialized

By Ridwan Yusuf
July 13, 2021
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N-Power is a scheme set up by President Muhammadu Buhari since 8 June 2016, "to address the issues of youth unemployment and help increase social development".

Seven months after the launch of the N-Power NEXIT by Nigerian authorities, AllNews can authoritatively report that there is no single ex-beneficiary that has been placed into the any Central Bank of Nigeria (CBN) intervention option — as promised.

NEXIT is a portal designed for the CBN empowerment programme for exited N-Power beneficiaries (batches A and B). It was launched in November 2020, but has not been effected despite hundreds of the erstwhile beneficiaries successfully completing registration. The next stage of the NEXIT has not been announced either - since 2020.

It would be recalled that the 36 States and FCT N-Power Representatives Forum had in May accused the Nigerian Federal Government of ‘tactically excluding the option of unemployed status from the NEXIT survey’.

The N-Power council said Nigerian authorities neglected the fact that the decision to disengage over 500,000 beneficiaries meant the youths are back to the unemployed population. It stated the FG deliberately used the NEXIT survey “to justify your craftiness, to make Nigerians believe that we were into Business after N-Power”.

“We observe that in your survey of so call Nexit package, you tactically exclude the Option of Unemployed Status from the survey to justify your craftiness to make Nigerians believe that we were into Business after Npower, We are Watching You,” 36 States and FCT N-Power Representatives Forum had stated via its genuine Twitter handle on May 4.

AllNews understands that a huge number of N-Power batches A and B beneficiaries are presently back into the unemployment population of Nigeria since the decision of the FG to throw them out in June and July 2020.

Nigeria has one of the worst unemployment rate in Africa. Unemployment in Africa's largest economy surged to the second highest on a global list of countries monitored by Bloomberg. In 2020, the unemployment rate in the country was at approximately 7.96 percent.