The recent hush that has plagued the NEXIT Loan Program has alarmed the 500,000 disengaged Batch A and B Npower beneficiaries.
The NEXIT Loan training for disengaged Npower beneficiaries was initiated by the Federal Ministry of Humanitarian Affairs, Disaster Management, and Social Development on March 14, 2022, and it finished on March 18, 2022.
The Honourable Minister, Sadiya Umar Farouk, announced that out of the 467,183 trainees who expressed interest in the NEXIT Loan, 75,600 were chosen to participate in the First Batch of the NEXIT Loan Training, which will prepare them for the loan if they are eligible. This training will take place across the 36 States plus the FCT.
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Farouk added that the Batch 2 of the exiting beneficiaries who would participate in the next batch of the NEXIT Loan Training will be shortlisted after the Batch 1 NEXIT Loan Training, further indicating that batching the NEXIT Loan Training was done to facilitate Coordination.
“It has been my desire that the exited batches A and B N-Power graduate beneficiaries will not be left unattended to. In different channels, I kept on assuring these teaming youths that the Ministry of Humanitarian Affairs, Disaster Management and Social Development has worked very closely with the Central Bank of Nigeria to realize this dream.
“Today marks the beginning of the fulfilment of this awaited training that will enable those beneficiaries that indicated interest to participate in the CBN empowerment programme.
“For ease of coordination, this training programme will be conducted in phases. Let me also inform you that all the 36 States and FCI are participating in this long-awaited NEXIT training programme. A total of 75,600 participants are in this first batch of the training. We will continue to train the remaining batches in no distant time.
“The Federal Ministry of Humanitarian Affairs, Disaster Management and Social Development are committed to ensuring that the strategic objectives of all the social intervention programmes are harnessed to achieve the desired goals and objectives,” Farouk stated.
Approximately 4 months after the Batch 1 NEXIT Loan Training, the ministry has not provided any official updates regarding the NEXIT Loan Disbursement to the trained and qualified beneficiaries or the start date for the Batch 2 NEXIT Loan Training.
The Ministry’s lack of response to the NEXIT Loan Training has allowed for the spread of misleading information and exposed the distracted Npower beneficiaries to fraudsters by stoking their hope and despair.
here are two resounding questions begging for answers on the NEXIT Loan recently:
- When will NEXIT Loan Disbursement commence for the trained 75,600 beneficiaries.
- When will the Batch 2 of the NEXIT Loan Training commence as over 300,000 beneficiaries yell in wait for the NEXIT Loan Training.
The Ministry has been urged by disgruntled Npower recipients to provide an official update on the two issues raised above so as to save them the agony of receiving incorrect information and being a victim of scammers snooping on social media.
The Federal Ministry of Humanitarian Affairs, Disaster Management, and Social Development created the NEXIT (N-EXIT) Loan program in partnership with the Central Bank of Nigeria to offer soft loans to disengaged Npower beneficiaries in the range of N250,000 to N3,000,000 so they could move forward with a business venture after completing the required NEXIT Loan Training.
The NEXIT Loan Program is starting with Batch A and B Npower beneficiaries but will reportedly be expanded to include Batch C of the renowned Npower program, according to the Ministry.
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