President Buhari Budgets NGN420 billion For N-Power, Other SIPs

President Muhammadu Buhari has disclosed that his administration has budgeted for N-Power and other social investment programmes in the 2021 budget. The President said this while addressing his administration's plan for Nigerians.

According to President Buhari, the sum of N420 billion has been earmarked for social intervention programmes which consist of N-Power, Homegrown School-feeding programme and other programmes for vulnerable and lower-class households.

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During his presentation of 2021 budget to the National Assembly, President Buhari said, "In furtherance of our inclusiveness agenda, the sum of N420 billion has been provided to sustain the Social Investment Programmes, while N20 billion has been set aside for the family homes and our Social Housing Programmes."

Good News Ahead Of Impending Recession

President Buhari budgeting for social intervention programmes means the unemployed youths, vulnerable and lower class Nigerians will have some government support if Nigeria's economy slides into recession in the third quarter.

These classes of Nigerians will be provided for and will have the government's financial support to look forward to next year. President Buhari had already stated that Nigeria's economy will contract in the third quarter - this means that the country will be experiencing recession twice in four years.

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In a previous report by AllNews, Buhari said his administration remains committed to implementing programmes to lift 100 million Nigerians out of poverty over the next 10 years.

He added that "For instance, the government is implementing the Special Public Works programme to provide employment opportunities to 774,000 youths across the 774 local government areas of Nigeria.

"We have also recently introduced the N75 billion Nigeria Youth Investment Fund, of which N25 billion have been provided in 2021 Budget," President Buhari said.