₦50k Government Loan Begins – 3,894 Youths To Benefit

Continuing endeavors aimed at mitigating the hardships faced by citizens received a significant boost over the weekend, as the Federal Government initiated the distribution of Cash Grants for Vulnerable Groups in Imo and Abia States.

Sadiya Umar Farouq, the Minister of Humanitarian Affairs, Disaster Management, and Social Development, officially commenced the programs at the Concorde Hotel Owerri alongside the Digitized Payment for Conditional Cash Transfer.

In Imo State, a total of 3,894 beneficiaries spanning the 27 Local Government Areas are slated to receive a one-time N20,000 Cash Grant for Vulnerable Groups, while approximately 4,738 individuals have been identified for interest-free loans under the Government Enterprise Empowerment Programme.

During her address, the Minister revealed that beneficiaries would be granted loans ranging from N50,000 to N300,000, catering to farmers, petty traders, widows, and youths.

She elucidated, “This program, championed by President Muhammadu Buhari’s administration, targets vulnerable and low-income Nigerians engaged in commercial activities but lacking access to loans.”
“Priority is given to the most vulnerable segments of society, including widows, youths, the disabled, and displaced individuals.”

In response, Governor Hope Uzodinma thanked President Buhari for the impactful empowerment programs, describing them as transformative.

He appealed for increased slots in social empowerment programs to address the rising challenges of banditry and insecurity in Imo State.

“We have experienced the positive effects of the Ministry of Humanitarian Affairs’ National Investment Programs,” he remarked.

“We appreciate the Ministry’s efforts in realizing President Buhari’s vision of lifting 100 million Nigerians out of poverty.”

The Minister also distributed engagement letters and monitoring equipment to 95 Independent Monitors, along with utensils for pupils enrolled in the National Home Grown School Feeding Programme.

In Abia State, the Director of Special Needs, Mrs. Nkechi Onwukwe, representing the Minister, launched the GEEP 2.0 initiative, benefiting 4,108 beneficiaries.

Of these, 3,107 individuals will receive N20,000 each as Cash Grants for Vulnerable Groups, while 27 Independent Monitors were enlisted and provided with engagement letters and monitoring tools.

“While the primary objective of this Cash Grant project is to enhance the income and assets of beneficiaries,” Umar Farouq emphasized, “it is imperative for beneficiaries to utilize the grants to enhance productivity, generate wealth, create employment opportunities, and elevate their living standards.”

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