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NPower Payment Delay: Finance Director Reveals Budget Reallocation Challenges Impacting Beneficiaries
In a recent development concerning NPower, the Director of Finance and Account at the National Social Investment Programmes (NSIP) within the Federal Ministry of Humanitarian Affairs and Poverty Alleviation has elucidated the reasons behind the delayed payment of beneficiaries’ stipends. The revelation came during a crucial budget defense session, shedding light on the intricate financial challenges faced by the ministry.
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Understanding the Budget Reallocation Challenge
During the session, the director explained that the delay stemmed from the reallocation of funds from the Social Investment office to other ministries, particularly for recurrent expenditures. An astonishing N127 billion was redirected from the social investment office, specifically designated for N-Power stipends. This unforeseen reallocation posed significant hurdles in managing the financial aspects of the N-Power program.
Impacts on N-Power Beneficiaries
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Notably, beneficiaries under Category 1 (C1) received a substantial 15 months of stipends, covering their 12-month service year and an additional 3-month exit package. However, those under Category 2 (C2) only received stipend payments for the three months spanning October to December 2023. This leaves N-Power Batch C2 beneficiaries owed a significant 9 months of stipends from January to September 2023, affecting a total of 440,000 eligible recipients.
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Ministry’s Efforts Amidst Challenges
The director acknowledged the Ministry’s struggle in obtaining necessary funds for the N-Power program, directly contributing to the delayed payments. Despite these challenges, the Ministry is actively working to secure additional funds to fulfill the outstanding stipends owed to N-Power Batch C2 beneficiaries.
Minister’s Previous Assurance and Ongoing Efforts
While the Minister had previously assured the recovery of funds and forthcoming payments to beneficiaries, the director’s detailed explanation offers valuable context to the financial complexities the Ministry faces in managing the N-Power program. The video linked below provides additional insights into this critical update.
As the Ministry navigates these financial challenges, beneficiaries and the public are keenly awaiting a resolution to ensure the timely disbursement of stipends and the continued success of the N-Power program. Stay tuned for further updates on this unfolding situation.
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FAQ – N-Power Stipend Delay and Fund Reallocation
Q1: Why are N-Power stipend payments delayed?
A1: The delay in N-Power stipend payments is attributed to the reallocation of funds earmarked for stipends. The Director of Finance and Account at NSIP mentioned that recurrent funds were redirected from the Social Investment office, causing disruptions.
Q2: How much funding was reallocated, and for what purpose?
A2: An amount of N127 billion was redirected from the social investment office, specifically intended for N-Power stipends. The funds were reallocated to other ministries, as explained during a recent budget defense session.
Q3: What is the payment status for Category 1 (C1) beneficiaries?
*A3: Category 1 beneficiaries received a comprehensive 15-month stipend, covering the 12-month service year and a 3-month exit package.
Q4: How about Category 2 (C2) beneficiaries?
A4: Category 2 beneficiaries received stipend payments for the period from October to December 2023. However, N-Power Batch C2 beneficiaries are owed 9 months of stipends from January to September 2023.
Q5: How many beneficiaries are affected by the delayed payments?
A5: A total of 440,000 eligible beneficiaries, specifically N-Power Batch C2, are awaiting the outstanding stipends.
Q6: What challenges did the Ministry face in obtaining funds for N-Power?
A6: The Ministry faced challenges in securing funds for the N-Power program, leading to the delayed payment of stipends. Efforts are underway to secure additional funds to settle the outstanding stipends.
Q7: Is there a commitment to resolving the situation?
A7: Yes, despite the challenges, the Ministry remains committed to resolving the delayed stipend payments and is actively working to secure additional funds for N-Power Batch C2 beneficiaries.
Q8: Where can I find more details and the director’s explanation?
A8: For a comprehensive understanding, you can watch the video containing the director’s explanation here. It provides insights into the challenges faced by the Ministry in managing the N-Power program’s financial aspects.
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