President Muhammadu Buhari has approved the increase of the budget of social investment scheme, Npower, by N365 Billion.
Buhari-led government announced the increment in a post via his official Twitter handle @MBuhari on Friday.
Buhari disclosed this while discussing deliberate actions taken to expand the nation’s fiscal budget for 2021.
“Yesterday, I assented to the 2021 Appropriation Act and the Finance Act 2020. The 2021 Budget provides for aggregate expenditures of 13.588 Trillion Naira, representing an increase of 505.61 Billion Naira over the initial Executive proposal,” the president said.
“The increase however includes the 365 billion Naira provision for up-scaling the @NSIP_NG, which I requested for after laying the Budget before the Legislature. The budget details, as passed by the National Assembly, and signed into law by me, will be provided by @FinMinNigeria.”
“In designing the 2021 Budget, we deliberately chose to pursue an expansionary fiscal policy. We intend to use the Budget to accelerate our economic recovery process, promote social inclusion and strengthen the resilience of the economy.”
Recall that Buhari had recently instructed the Ministry of Humanitarian Affairs, Disaster Management and Social Development to increase Npower Beneficiaries by 500,000 to 1 million.