FG Spends N400bn Yearly On Social Investments – SGF

The Federal Government is spending over N400bn annually on social investment programmes in its bid to lift millions of Nigerians out of poverty, the Secretary to the Government of the Federation, Boss Mustapha, has said.

He disclosed this in Abuja on Tuesday during the official inauguration of the Government Enterprise Empowerment Programme 2.0 by the Federal Ministry of Humanitarian Affairs, Disaster Management and Social Development.

“This administration commits over N400bn annually on all National Social Investment Programmes of government aimed at empowering our people and lifting millions out of poverty,” Mustapha stated.

The SGF, who was represented by the Minister of Youths and Sports Development, Sunday Dare, explained that the GEEP was one of the four NSIPs designed to give interest-free and collateral-free micro loans to poor persons at the base of the economic pyramid.

He stated that the aim of the programme was to address the credit and financial inclusion challenges of over 37 million Nigerians involved in active commercial activities but lacked the opportunity to access loans to support their businesses.