AllNews reports that the Nigerian federal government says it created the N-Power programme "to address the issues of youth unemployment and help increase social development". But N-Power beneficiaries' representatives argue otherwise.
"The primary aim and objective of the N-Power program (Batch A and B) was not achieved as 95% of the beneficiaries are now back to the street and jobless," 36 States and FCT N-Power representatives Forum quotes Pelemi as saying.
Nine 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.
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 hat approximately 7.96 percent.