FG says 2.1 million jobs created by the implementation of ESP programmes

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FG says 2.1 million jobs created by the implementation of ESP programmes


The Federal Authorities on Friday concluded its first Financial Sustainability Committee in 2022, which revealed that about 2.1 million jobs have been retained or created by the implementation of the ESP programmes. It was additionally disclosed that the NSIA will fund Photo voltaic Energy Naija with N10 billion as a part of 5 million family’s connections goal.
The Vice President, Yemi Osinbajo, SAN, presided over a digital assembly of the Committee on Friday, January 14 on the Presidential Villa.
The Minister of State for Business, Commerce and Funding, Ambassador Mariam Katagum, revealed that whereas all states of the federation have acquired various ranges of the N75 billion Survival Fund with its completely different schemes, every state would quickly obtain a minimal of N1.7 billion cumulative from all of the schemes.
What they’re saying
The ESP was launched in 2020 to mitigate the results of the pandemic on the economic system. The displays revealed that 2.1 million jobs have been retained or created by the implementation of the ESP programmes.

Others embody the approval of N10 billion by the Nigeria Sovereign Funding Authority (NSIA) to fund the deployment and native meeting of 200,000 (off-grid) Photo voltaic Houses Programs underneath the “Photo voltaic Energy Naija” partnership between each the NSIA and Rural Electrification Company (REA).

The Commerce Ministry additionally revealed that underneath the N75 billion survival fund each state would quickly obtain a minimal of N1.7 billion cumulative from all of the schemes.

“Lagos, Abia and Kano States have already crossed the bar, with Lagos reaching over N2.5B and Kano over N2B. No State thus far has acquired something lower than N1 billion,” Katagum stated.
In the meantime, the Minister of State, Finances & Nationwide Planning, Clem Agba, said that “Whereas about 1.3 million jobs have been retained by the MSME and Payroll assist, 774,000 jobs have been created from the Public Works Programme and 26,021 jobs from roads building/rehabilitation.”

In the identical vein, the Committee was briefed that over 1.1 million Nigerians have benefitted from the completely different schemes underneath the ESP MSME Survival Fund, thereby saving hundreds of thousands of jobs. A breakdown confirmed there are 459,334 beneficiaries underneath the Payroll Assist Scheme; 307,687 beneficiaries from the Artisan & Transport Scheme.
Equally, 82,491 Nigerians are thus far beneficiaries of the Common MSME Grants Scheme, and one other 17,468 of the Assured Offtake Scheme. Additionally, 250,000 enterprise names have been registered free underneath the Survival Fund’s CAC Formalization Assist Scheme.
What it is best to know
Recall Nairametrics reported final December that the Nigeria Sovereign Funding Authority (NSIA) has stated that it’s collaborating with the Rural Electrification Company (REA) to take a position an preliminary sum of N10 billion to supply over 200,000 solar energy for houses underneath the ‘Photo voltaic Energy Naija’ programme.

The NSIA in its assertion stated, “This funding by NSIA is focused at catalysing 200,000 off-grid connections within the first occasion with a objective of reaching over 500,000 programs because the fund revolves and is expanded by to 2023.

“The programme is estimated to additionally create as much as 20,000 jobs throughout manufacturing, meeting, set up and retail over the interval.
“Moreover, this partnership will assist Nigeria meet its Financial Sustainability Plan (ESP) goal of accelerating electrification, this can be a step in direction of creating 5 million photo voltaic connections over the following few years.’’

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