The Federal Government of Nigeria has allocated N75 billion for the home grown school feeding program designed to cater for one meal per day for five million primary school pupils.
This was disclosed by the Senior Special Assistant to the Acting President on Media and Publicity, Laolu Akande, who also informed that the federal government had voted N112.2 for the Government Enterprise and Empowerment Programme (GEEP).
The GEEP is one of the federal government’s social investment programme targeted at providing micro finance as loans to young men and women from all states of the federation at liberal conditions without any collateral.
Akande expressed that the N112.2billion would provide interest-free loans to 1.2 million people among whom are farmers, youths, traders and artisans.
“Already, under the 2016 budget, over 20,000 Nigerians in about 14 states and counting have been benefiting from GEEP”, he said.
According to him, beneficiaries will receive between N10,000 and N100,000 loan each with a one-time five percent administrative fee.
Speaking on the N-power programme the media aide informed that President Muhammadu Buhari had requested N157.75 billion in the 2017 budget estimates for the scheme.
Akande said part of the fund would be spent on the recruitment and training of 350,000 graduates and 50,000 non-graduate youths to be engaged as artisans.