President Bola Ahmed Tinubu has approved the release of ₦32.7 billion for the implementation of the National Social Investment Programme (NSIP), an initiative aimed at supporting Nigeria's most vulnerable groups, including women and youth.

The announcement was made on Friday by the Minister of Humanitarian Affairs and Poverty Alleviation, Professor Nentawe Yilwata, during the launch of the State Action Plan for durable solutions for Internally Displaced Persons (IDPs) in Makurdi, Benue State.

According to Yilwata, the NSIP is a central pillar of President Tinubu’s Renewed Hope Agenda, which focuses on empowering Nigerians through various social welfare and economic empowerment initiatives. The program will provide non-collateral, non-interest loans to vulnerable groups to foster economic stability and self-sufficiency.

“The president has approved ₦32.7 billion for the implementation of the National Social Investment Programme,” Yilwata said, according to a report by the News Agency of Nigeria (NAN).

The minister further explained that the funds will be distributed through cooperatives, urging Nigerians to form or join such groups to benefit from the scheme. Cooperatives with 20 members, for instance, could receive up to ₦6 million, with loans ranging between ₦300,000 and ₦400,000 per group member, depending on the cooperative's size.

Yilwata emphasized that the initiative aligns with the administration's commitment to reducing poverty and creating economic opportunities, particularly for displaced persons and underserved communities across Nigeria.

This development is expected to bolster efforts to alleviate poverty and provide much-needed relief to struggling households nationwide.