Over 395,000 N-Power beneficiaries are owed a staggering N81 billion due to the continued suspension of NSIPA’s operational accounts.
The freeze, which has been in place for months, has severely impacted the timely disbursement of stipends to the young Nigerians enrolled in the N-Power program.
These beneficiaries, many of whom rely on the monthly payments for their livelihood, are facing financial hardship as a result.
Kalu, a key advocate for the program, emphasized that these unpaid stipends are already captured under the 2023 and 2024 Appropriation Acts, which allocated funds for the program’s continuation. With the funds still trapped in frozen accounts, the government risks breaching its financial commitments to these vulnerable groups.
The situation has led to frustration among N-Power beneficiaries, who feel abandoned by the government they are depending on for economic empowerment.
Kalu warned that if the funds are not released by the end of the year, they will lapse, leaving beneficiaries without recourse. This could lead to a breakdown in the program, undermining the administration’s poverty alleviation and youth empowerment objectives.
The suspension of these funds also affects the broader mission to reduce unemployment and stimulate economic growth through skills acquisition and empowerment programs.
The government now faces immense pressure to resolve the issue promptly to prevent further backlash and ensure that poverty reduction goals remain on track.
The continued delay in disbursing the owed stipends also affects local economies, as many beneficiaries use their payments for essential goods and services. Kalu and other stakeholders are urging swift action to ensure that the N-Power program and its beneficiaries do not bear the brunt of administrative inefficiencies.
