The Muhammadu Buhari administration plans to disburse a soft loan of N60,000 each to one million poor traders and artisans across the country in 2016.
N60b has been provided for the project in this year's budget which is still before the National Assembly.
The administration also has five other social investment plans in the budget with N500 billion or nine percent of the 2016 budget provided for their implementation.
The schemes include:
1. The teach Nigeria scheme where the Federal Government plans to directly hire 500,000 graduates as teachers. Under the scheme government will hire, train and deploy the graduates to help beef up the quality of teachers in public schools across the nation. The teachers will be picked on state by state basis.
2. The Youth Employment Agency where between 300,000 to 500,000 non graduate youths will be taken through in skill acquisition programmes and vocational training, for which they will be paid stipends during the training, with the view that they would subsequently become self-productive members of their communities. The selection of the youths for this scheme will also be on state by state basis.
3. The Conditional Cash Transfer where government will pay directly N5,000 per month to one million extremely poor Nigerians on the condition that they have their children immunized and enrolled in schools.
4. The Homegrown School Feeding in which the federal government will serve one meal a day to primary school pupils, mostly in collaboration with state governments. This programme has international support from the Imperial College of the United Kingdom among other international agencies.
5. The Free Education for Science,Technology and Mathematics (STEM) students where tuition will be paid for about 100,000 students in tertiary institutions in the country. The scheme is estimated to cost about N5 billion.
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