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  • Business
  • Updated: Nov 18, 2020

What Next For N-Power Beneficiaries As Survival Fund Beneficiaries Receive Payment?

What Next For N-Power Beneficiaries As Survival Fund Benefic

There's only one thing on the mind of N-Power beneficiaries, and that's to get paid. But it seems Survival Fund beneficiaries are the preferred option for payment as over 100,000 Nigerians have been paid from the Survival Fund program.

The beneficiaries were drawn from various businesses listed on the Survival Fund platform which was created to financially support individuals affected by the downturn of the economy. The Survival Fund platform is home to Micro and Small businesses struggling financially.

These businesses are drawn from various sectors, including education and hospitality, with an average of 35,000 individuals per state targeted by the Survival Fund. Out of the beneficiaries, 101,567 persons from 16,253 businesses were paid today.

READ ALSO: Another Farmer Quit Farming In North As Bandits Give Farmers Two Options

Survival Fund beneficiaries received their first monthly payment from the Payroll Support Program, President Muhammadu Buhari revealed on his official Twitter account. 

"I am pleased to announce that 101,567 beneficiaries drawn from 16,253 businesses today received their first monthly payment from our Payroll Support Program. The program is a @SurvivalFund_ng Covid-relief initiative to support qualifying MSMEs with staff salaries for 3 months." President Buhari said.

What's Happening To N-Power?

N-Power beneficiaries seem to have been given the back seat since the establishment of the Survival Fund. N-Power beneficiaries are in the dark of what will happen next as the government keeps mute on its plan for the beneficiaries.

READ ALSO: #EndSARS: Access Bank Investors Jittery, Dump Stock Following Customers Boycott

AllNews had reported that as of July 2020, an estimated 500,000 graduates volunteers were in N-Teach, N-Tax, N-Health, and N-Agro which are designed for graduates, this is according to the National Social Investment Office (NSIO).

The only plan revealed to the public is that NGN400 billion will be spent on N-Power, TraderMoni, and other National Social Investment Programmes (NSIPs) in 2021 by the Buhari administration.

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