Thousands of exiting Batch A and B Npower beneficiaries have expressed unhappiness with the CBN AGSMEIS NEXIT Loan Training Batch 2’s non-start.
In answer to a question about when Batch 2 of the NEXIT Loan Training would begin, the Federal Ministry of Humanitarian Affairs, Disaster Management, and Social Development replied that “the next batch of the NEXIT Training will commence after the closure of the first Batch.”
Tensions have risen among the beneficiaries, who are planning an online protest since the government has not released the NEXIT Loan Training Invitation or the official statement on the Batch 2 NEXIT Loan Training start date.
We’ll go over the REASONS why the NEXIT Loan Training for other batches of the program hasn’t started yet.
1. NEXIT loan batch 1 Training is still ongoing.
As many people believe, NEXIT Loan Training covers not only the physical presence in the NEXIT Loan Training Center, but also additional procedures that are part of the Criteria for obtaining the NEXIT Loan, both during and after the Physical Training.
“Submission of Business Plan” and “Assessment of Business Plan” are two of these procedures. These are the two most important aspects of the NEXIT Loan Training and the main requirements for receiving a NEXIT Loan.
Some states have yet to complete the Business Plan Submission process, let alone the Business Plan Assessment. The start of Batch 2 of the NEXIT Loan Training will be further delayed as a result of this.
2. Ease of Coordination
Sadiya Umar Farouk, Minister of Humanitarian Affairs, Disaster Management, and Social Development, stated during the flag-off of the NEXIT Loan Training in Abuja that the NEXIT Loan Training will be done in phases for ease of coordination.
There are no fewer than 1000 beneficiaries in each State and roughly 500 beneficiaries for each participating Entrepreneurship Development Institute among the 75,000 departed Npower beneficiaries in Batch 1 of the NEXIT Loan Training (EDI).
In terms of NEXIT Loan Training, Submission of Business Plan, and Business Plan Assessment, 500 or more beneficiaries per EDI are not insignificant numbers to manage.
Training another batch of 75,000 beneficiaries while Batch 1 is still in progress would result in even more delays, as the NEXIT Loan Training, Business Plan Submission, and Business Plan Assessment processes must be completed on each trained beneficiary before the number of beneficiaries eligible for the NEXIT Loan Disbursement can be determined.
3. Planning/Preparation before Execution
Prior to execution, there is always planning/preparation. It’s not easy to train, coordinate, and analyze 1,000 or more beneficiaries at once, especially given the present number of cooperating EDI in each state.
One could argue that more EDI should be used, but it would involve more Ministry spending. Everyone knows that all recipients of the CBN NEXIT AGSMEIS Loan Training are free, meaning that the Ministry paid for their participation because they are Private Training Institutions.
Even government-owned CBN authorized institutions participating in the major AGSMEIS Loan Training collect N10,000 from each candidate, which is approved by the Central Bank of Nigeria. However, NEXIT Loan Training is provided free of charge.
During Batch 1 of the NEXIT Loan Training, the recipients were also served an Item 7. Before beginning Batch 2 of the NEXIT Loan Training Invitation and the NEXIT Loan Training, this will also need to be prepared and supplied for.
Beneficiaries should exercise patience while the Ministry prepares for Batch 2 of the NEXIT Loan Training. As far as the CBN/NEXIT AGSMEIS Loan is concerned, there is no evidence that the Ministry has failed or disappointed any beneficiary.
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