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FG Suspends N-Power, Probes Disbursement Of Funds …To Employ Five Million Nigerians …Extends Beneficiaries’ Age From 18-40

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The Federal Government has suspended the N-Power programme indefinitely.
This was disclosed by the Minister of Humanitarian Affairs and Poverty Alleviation, Betta Edu while speaking during an interview on TVC News last Saturday.
According to her, the suspension was sequel to some irregularities observed within the scheme.
Edu said that an investigation would be launched into how funds were expended since the beginning of the programme.
Revealing reasons behind the suspension and what will follow, the minister said, “We must go back to look into N-Power and understand what the problems are, so we will basically suspend the programme for now until we are done with proper investigation into the utilisation of funds into the N-Power programme.
“We want to know how many persons are basically on the programme right now, how many persons are owed, the amount they are owed. We are totally restructuring the N-Power and expanding it.
“There are lots going on. We met people who were supposed to have exited the programme last year and they are still claiming that they are still teaching.
“Sometimes we contact the school or the places where they are working and they are not there. They are not working, yet they keep claiming that they are being owed eight or nine months stipends.
The Tide reports that the N-Power Programme was launched by President Muhammadu Buhari’s administration to tackle youth unemployment and help increase social development.
Meanwhile, the Federal Government said no fewer than five million Nigerians are to be employed after the restructuring of its job-creation scheme, N-Power.
But in order to provide the expected number of young Nigerians with jobs in the next five years, the Federal Government has expanded the age bracket of the N-Power beneficiaries from 18 to 40 from the previous bracket of 18 to 35years.
The N-Power National Programme Manager, Dr. Akindele Egbuwalo, made the disclosure in a statement in Abuja, yesterday.
Dr. Egbuwalo appealed to Nigerians to understand the rationale behind the temporary suspension of the N-Power programme to pave way for the ongoing restructuring in order to restore the confidence of Nigerians in the programme.
Egbuwalo said, “This restructuring and transformation will also birth an expanded programme to reach beneficiaries aged 18-40 (the previous age limit was 35).
“We are targeting five million beneficiaries in five years at a pace of 1 million per year under the graduate and non-graduate stream”.
Giving a further glimpse into what a restructured N-Power would look like, the National Programme Manager disclosed that it will accommodate some new programmes in education, health, works, agriculture, technology, fashion, entertainment and other relevant areas of skill acquisition and employability.
He added: “To earn the confidence of Nigerians in the expanded programme, transparency and accountability will be the benchmark. It shall no longer be business as usual as we make concerted efforts to put the nation on the right footing, ensuring that no one directly or indirectly unleashes suffering on Nigerians”.
Egbuwalo explained that the suspension of the programme became imperative following the discovery of some sharp practices and to also give room for a detailed investigation into its operations in the last one year.
His words: “There is a need to audit the number of people in the programme, those who have exited the programme, those who are being owed, whether they reported to work or not and how funds have been utilised over this period.
“Recently, we discovered instances of programme beneficiaries whose participation has lapsed since 2022 but have remained on and continue to expect payments from the government.
“In addition, some beneficiaries must honour their obligation to the programme. They do not report to their places of primary assignments as required but still receive monthly payments.
“These instances have made the need for a thorough audit imperative as we also look into claims of those being owed for up to eight to nine months stipends to ascertain the veracity of their claims”.
He assured all beneficiaries with genuine claims that the Federal Government will not owe anybody as it will resolve all cases and honour all valid outstanding obligations once the verification exercise is completed.

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Tinubu Hails NGX N100trn Milestones, Urges Nigerians To Invest Locally

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President Bola Tinubu yesterday celebrated the Nigerian Exchange Group’s breakthrough into the N100tn market capitalisation threshold, saying Nigeria has moved from an ignored frontier market to a compelling investment destination.

Tinubu, in a statement signed by his Special Adviser on Information and Strategy, Bayo Onanuga, urged Nigerians to increase their investments in the domestic economy, expressing confidence that 2026 would deliver stronger returns as ongoing reforms take firmer root.

He noted that the NGX closed 2025 with a 51.19 per cent return, outperforming global indices such as the S&P 500 and FTSE 100, as well as several BRICS+ emerging markets, after recording 37.65 per cent in 2024.

“With the Nigerian Exchange crossing the historic N100tn market capitalisation mark, the country is witnessing the birth of a new economic reality and rejuvenation,” Tinubu said.

He attributed the stellar performance to Nigerian companies proving they can deliver strong investment returns across all sectors, from blue-chip industrials localising supply chains to banks demonstrating technological innovation.

The President added, “Year-to-date returns have significantly outpaced the S&P 500, the FTSE 100, and even many of our emerging-market peers in the BRICS+ group. Nigeria is no longer a frontier market to be ignored—it is now a compelling destination where value is being discovered.”

Tinubu disclosed that more indigenous energy firms, technology companies, telecoms operators and infrastructure firms are preparing to list on the exchange, a move he said would deepen market capitalisation and broaden economic participation.

He also cited what he described as a sustained decline in inflation over eight months—from 34.8 per cent in December 2024 to 14.45 per cent in November 2025—projecting that the rate would fall below 10 per cent before the end of 2026.

“Indeed, inflation is likely to fall below 10 per cent before the end of this year, leading to improved living standards and accelerated GDP growth. The year 2026 promises to be an epochal year for delivering prosperity to all Nigerians,” he said.

The President attributed the trend to monetary tightening, elimination of Ways and Means financing, and agricultural investments, which he said helped stabilise the naira and ease post-reform pressures.

Nigeria’s current account surplus reached $16bn in 2024, with the Central Bank projecting $18.81bn in 2026, reflecting a trade pattern shift toward exporting more and importing less locally-producible goods.

Non-oil exports jumped 48 per cent to N9.2tn by the third quarter of 2025, with African exports nearly doubling to N4.9tn. Manufacturing exports grew 67 per cent year-on-year in the second quarter.

Foreign reserves have crossed $45bn and are expected to breach $50 billion in the first quarter, giving the CBN ammunition to maintain currency stability and end the volatility that previously fuelled speculation, according to the President.

Tinubu also highlighted infrastructure expansion in rail networks, arterial roads, port revitalisation, and the Lagos-Calabar and Sokoto-Badagry superhighways, alongside improvements in healthcare facilities that are reducing medical tourism costs, and increased university research grants funded through the Nigeria Education Loan Fund.

“Our medicare facilities are improving, and medical tourism costs are declining. Our students benefit from the Nigeria Education Loan Fund, and universities are receiving increased research grants,” he said.

He described nation-building as a process requiring hard work, sacrifices, and citizen focus, pledging to continue working to build an egalitarian, transparent, and high-growth economy catalysed by historic tax and fiscal reforms that came into full implementation from January 1.

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RSG Kicks Off Armed Forces Remembrance Day ‘Morrow  …Restates Commitment Towards Veterans’ Welfare

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The Rivers State Government has reiterated its commitment towards the welfare of veterans, serving officers and widows of fallen officers in the State.

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?The Secretary to the Rivers State Government, Dr. Benibo Anabraba, in a statement by ?Head, Information and Public Relations Unit, SSG’s ?Office, ?Juliana Masi, stated this during the Central Planning meeting of the 2026 Armed Forces Remembrance Day in Port Harcourt, yesterday.

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?Anabraba thanked the Committee for their contributions to the success of the Emblem Appeal Fund Ceremony recently held in the State and called on them to double their efforts so that the State can record resounding success in the remaining activities.

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?According to him, the remembrance day events will begin with Jumaàt Prayers on Friday, 9th January at the Rivers State Central Mosque, Port Harcourt Township, while a Humanitarian Outreach/Family and Community Day will be hosted on Saturday, 10th January, by the wife of the governor, Lady Valerie Siminalayi Fubara, for widows and veterans.

?”On Sunday, 11th January, an Interdenominational Church Thanksgiving Service will hold at St. Cyprian Anglican Church, Port Harcourt Township while the Grand-finale Wreath- Laying Ceremony will hold on Thursday, 15th January at the Isaac Boro Park Cenotaph,  Port Harcourt”, he said.

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?The SSG noted that one of the highlights of the events is the laying of wreaths by Governor Siminalayi Fubara and Heads of the Security Agencies.

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Fubara Redeploys Green As Commissioner For Justice

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The Governor of Rivers State, Sir Siminalayi Fubara, has approved a minor cabinet reshuffle in the State Executive Council.

Under the new disposition, Barrister Christopher Green, who until now served as Commissioner for Sports, has been redeployed to the Ministry of Justice as the Honourable Attorney General and Commissioner for Justice.

This is contained in an official statement signed by Dr. Honour Sirawoo, Permanent Secretary, Ministry of Information and Communications.

According to the statement, Barrister Green will also continue to coordinate the activities of the Ministry of Sports pending the appointment of a substantive Commissioner to oversee the ministry.

The redeployment, which takes immediate effect, was approved at the last State Executive Council meeting for the year 2025, underscoring the Governor’s commitment to strengthening governance, ensuring continuity in service delivery, and optimising the performance of key ministries within the state.

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