FG Pledges Support For Establishment Of Social Innovation, Research Institute

File photo of Vice President Professor Yemi Osinbajo.

 

The Federal Government has pledged support for the establishment of social innovation and research institute for the implementation of the Economic Sustainability Plan (ESP).

Vice President Yemi Osinbajo stated this on Tuesday when he visited President Muhammadu Buhari at his office.

President Buhari had mandated Vice President Osinbajo as chair of the Economic Sustainability Committee, to coordinate the implementation of the ESP aimed at cushioning the economic effects of the COVID-19 pandemic.

About three months into the implementation of different components of the plan namely, MSMEs Survival Fund; Social Housing Scheme, and Solar Home System, among others, Nigerians across different sectors have been impacted.

MSMES Survival Fund: More Nigerians Receive Payroll Support Payments, Artisan & Transport Grants

For the Payroll Support track of the Survival Fund, a total of 277,628 beneficiaries drawn from 56,575 businesses have now been paid.

This total number includes the batch of 20,614 beneficiaries that were recently been paid for October and 257,014 beneficiaries that were paid for November and December.

A breakdown of the 257,014 beneficiaries shows that: N30, 000 each was paid to 222,466 beneficiaries as of November and December payments while N50,000 each was paid to 34,548 beneficiaries as of November and December salaries.

Out of the total number, 3 percent are beneficiaries with special needs, while 43 percents are female employees/beneficiaries.

Meanwhile, the enumeration of prospective beneficiaries for the Transport Support Track, which was launched in December 2020, is still ongoing.

And payment of N30, 000 one-time grant to 333,000 artisans across the country is in progress with payments already made to verified beneficiaries in States under streams 1, 2, and 3, comprising FCT, Lagos, Ondo, Kaduna, Borno, Kano, Bauchi, Anambra, Abia, Plateau and Delta (under stream 1); Taraba, Adamawa, Bayelsa, Edo, Ogun, Ekiti, Katsina, Kebbi, Kogi, Kwara, Enugu, and Ebonyi (under stream 2); Akwa-Ibom, Cross River, Zamfara, Yobe, Sokoto, Nasarawa, Niger, Imo, Oyo, Osun, Jigawa, Gombe and Benue (under stream 3).

Solar Home System: Scheme To Connect 5m Households In Off-Grid, Under-Served Communities To Electricity Ongoing

The process of installation of the N140 billion Solar Home System that will cover up to 5 million households, serving about 25 million individuals in rural areas and urban communities, has begun with the enlistment of solar assembling companies and components manufacturers as well as solar servicing firms.

Under the scheme, the Central Bank of Nigeria (CBN) will make available funds to private companies involved in the manufacture, installation, servicing of the solar systems, at rates ranging between 5 to 10 percent.

An important aspect of the scheme is the option of outright ownership by beneficiaries at a cost ranging from N1, 500 per week to N4, 000 monthly depending on the capacities, for a period of 3 years.

 

 

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