Idealab Agency, an agency established by the Federal government to address the challenges of small holder farmers and micro small and medium enterprises in accessing intervention funds in Nigeria in the country has called for a speedy passage of a bill to establish the National Council for Public Assistance to widows, dependent children abe Orphans in the country.
Addressing a news conference at the National Assembly on Monday, Director General of the agency, Tyongi Emmanuel Aondoakaa said the establishment of the agency will help address issues of unemployment and other vices that led to the recent ‘Endbadgovernance’ protest across the country.
He commended the Speaker of the House of Representatives for sponsoring the bill and for his public engagement with stakeholders while drumming support for the bill.
He also commended the Speaker for bringing back the bill which was rejected in the 9th Assembly, adding the provisions of the bill aligned with the Renewed Hope Agenda of the President.
He said the Speaker is optimistic that the 10th Assembly will consider the bill for speedy passage and its onward transmission to the President for his assent because of its strategic importance in the current administration and aspiration the President to lift 50 million Nigerians out of poverty by 2027.
He said “It is important to state here that, if this piece of legislation is revisited, repositioned as proposed and worked upon to align with the aspirations of the president as stated above, it will go ahead and address the yearnings of the demonstrators and street protesters of the #EndBadGovernance, to solve the problems of hunger, illiteracy, suffering of the ordinary masses of Nigeria and other social vices in the country.
“We are optimistic it will reduce tension in the land and give the legislators and the Federal Government of Nigeria a high public approval rating and prospect of winning future elections for the politicians in power now”.
Speaking on the objectives of Idealab Agency, Aondoakaa said the agency was registered in May, 2024 by the government to address the challenges of small holder farmers and micro small and medium enterprises in accessing intervention funds in Nigeria, lack of market access, shortage of employment in the country and to create wealth using digital platforms.
“This was a follow up of the Idealab program that was officially launched on the 29th March, 2022 by the Bank of Industry in collaboration with the other critical stockholders to drive the initiative of the Federal Government of Nigeria for the investment in digital economy and creative enterprise (IDICE) and the World Bank Group’s International Finance Corporation venture capital funds for intervention programs using financial inclusion and inclusive growth strategies to lift Nigerians who are excluded out of poverty.
“The funds are in the form of Grants, Scholarship, Aid, Employment, Market access and Loan programs, etc.
He said that the Idealab program has created and adopted state of the arts technologies that can drive financial inclusion and inclusive growth strategies across the country to bring Intervention programs
to every community in Nigeria.
He said, “These technologies are designed and approved to facilitate the onboarding processes and disbursement of loans, grants, scholarships, aid, employment & market access, etc.
“By adopting these technologies and using them, so many adult Nigerians can access intervention programs ranging from ₦500,000 to ₦200 Billion, both from the Federal Government of Nigeria and World Bank Group.
“Though these funds have been there since the launch of idealab program, yet so many Nigerians have not heard about it or still not benefitted from these intervention programs.
“It is on the premise of this verifiable fact that we are calling on the National Assembly, the media and other critical stakeholders to support us (idealab agency) in terms of mobilization and awareness creation about the intervention programs under our watch.”
