According to Sadiya Umar Farouk, Minister of Humanitarian Affairs, Disaster Management and Social Development, an effective transition and exit management plan would be made available through the NASIMS portal for the Batch C Npower program, allowing beneficiaries to be automatically transferred to NEXIT. Loan program.
In her department’s weekly report, “My Week in Review,” the minister made this point clear while emphasizing the role that the National Social Investment Management System (NASIMS) platform plays in delivering the NSIP mandate. .
“The Npower program is a core component of the FG’s National Social Investment Program (NSIP) and supports the FG’s vision of lifting 100 Nigerians out of poverty over 10 years. The goal remains to develop young Nigerians for employment or entrepreneurship.
“The NASIMS platform will help ensure transparency, institutional memory, and dynamic impact assessment of the N-Power Cluster, Lot C, thereby providing seamless interaction between the program and beneficiaries,”
“The NASIMS platform will also facilitate seamless beneficiary vetting, including an effective transition and exit management plan that will allow beneficiaries to be automatically migrated to the NEXIT program for POSSIBLE job placement and employment opportunities with FG agencies,” Farouk said.
According to the Federal Ministry of Humanitarian Affairs, Disaster Management and Social Development, NEXIT (N-EXIT), also known as the NEXIT Loan Program, is an exit or transition plan designed to train and grant loans on favorable terms to Npower beneficiaries after their term in the Npower program is over.
The ministry arranged it in conjunction with the Central Bank of Nigeria to provide loans in the range of N250,000 to N3,000,000 which are available under CBN intervention programs such as the COVID-19 Targeted Credit, AGSMEIS Loan and Nigeria. Youth Investment Fund Loan Program.
The loan would give outgoing beneficiaries the opportunity to move forward with an entrepreneurial project that would guarantee Npower beneficiaries a stable source of income.
The NEXIT loan, as the name suggests, started with former Batch A and Batch B beneficiaries of the Npower program and will continue to Batch C beneficiaries, as the ministry clarifies.