DISLAIMER: FG HAS NOT REOPENED N-POWER PORTAL FOR NEW APPLICATIONS YET

Our attention has been drawn to false and fraudulent reports circulating especially in the Social Media that new N-Power applications are now being received on the N-Power portal. There are also equally false reports and claims about an unauthorised request for vital personal information of beneficiaries on web portals not known to the Presidency or any arm of the Federal Government.

Nigerians, especially beneficiaries and potential beneficiaries of the N-Power Volunteer Corps should ignore such reports emanating from fake sources and outlets and only relate with bonafide presidency and FG sources and web portals. For the avoidance of doubt, legitimate communication about the N-Power is done through selection@npower.gov.ng or the relevant Focal Persons appointed by each of the 36 States and the FCT.

NATIONAL ECONOMIC COUNCIL RETREAT HIGHLIGHTS

Theme: Nigerian States: Multiple Centres of Prosperity

The following are highlights of the just concluded NEC Retreat:

1. Agreement reached for concerted and consistent efforts to diversify revenue sources
2. Expand compliance on VAT, adopting a gradual plan for rate increase
3. Increase expenditure through borrowing, which should be invested in infrastructure
4. Federal and State Governments to focus on fiscal responsibility as a critical element in macro-economic balance
5. Increase investment in infrastructure through public private partnership (PPP)
6.Develop financial inclusion strategies to cater for the poor and vulnerable population
7. Maintain a minimum level of capital expenditure of 30% in the budget

Thematic Areas

Agriculture
1. The Federal Government to re-position Bank of Agriculture to enhance its capacity to finance agriculture.

2. Funding for Agricultural sector is considered critical and sources of intervention funding from the Central Bank of Nigeria should be considered

3. A single digit interest rate for agricultural loans should be considered while duties and taxes for Agricultural products and equipment should be waived

4. Develop strategic partnerships between Federal and State government. Each State should make specific commitments to crops in which it has comparative advantage and request Federal Government intervention.