Economic change for private people

This project is to address the situation of pension scheme for private organization like churches, mosques, private schools, market women and men and other organizations to save for their future.  Most private organizations suffer at oldage because the Nigeria government dont have any vision to help the private individuals for oldage.  This problem will be online and participants will be able to pay in their monthly to this account or deduction made monthly from their banks instruction.  There will be an apps to design for the collection of the money.  Banks and other pension organizations will be partners in this project and also the insurance organization will be made to guide the funds.  The government will appoint the monitoring officials for the funds.

The project is about to change the lives of private people in Nigeria.  Nigeria is made up of 36 states and the federal capital territory which made it 37 states.  Nigeria has a population of over 200 million people.  Those engage in government work are just 35%.  the rest 65% are private individual.  This project will take care of private organization which has population of over 80 million Nigeria.  These are Pastors working in churches, Imams, Small scale  business owners, market women and men traders, private schools proprietors and their teachers and many more.  Most of these people suffer at oldage because they dont have planned pension and when the salary stop coming, they suffer and die quickly.  This project is to plan for the private sectors  in Nigeria to have a future and help their oldage.

The targeted people are majorly the private sector which do not have support from the government for their daily lives.  These people comprises

The Pastors.  These pastors retire as from the age of 65 years and there is no pension scheme for them.  Many of them suffer so much after retirement

The Imams - the same thing happens to the imam.  No pension for the

The small scale business owners - they are the own of their businesses, so they carter for themselves.  When they are getting old and at times the business is not going well, they end up suffering and begging on the streets.  Some even take loans from the bank which they cannot afford to pay.

The government should made a compulsory pension for the private sector.  This project has been bothering me for years because i am a private person.

NGO workers - they dont have pension scheme.

The problem to solve is poverty at oldage by the private sector who are not covered in Nigeria by the public pension service and insurance.  These group are the private people working in the small scale business, the pastors working in churches, the Imam working in mosques, the NGO workers, the market women and men.  The program will design a solution for them to save money in this project for oldage.  At times, money saved in the bank can easily be withdrawn and use but the pension savings cannot be withdrawn and used until due time.  

In addition to this, you need to know more about it.Presently there is no competitor in this project.  The only project available in Nigeria is the insurance companies and the micro credit organizations.  This organizations does not provide for the pension, but they deal with the instant business and loans.  Many people do not want the insurance companies because many of them has failed in their promises to the people.  When people insure with them, when they have problem, they find it difficult to access their funds.  So this is the first time that this can of proposal or project is coming up in Nigeria that will take care of the private sector.  With the support of the government and with the backing of law from the National Assembly, the organization handling the project of this private sector will be guide and handle by the government.  Most private organizations will be very happy to partake in it because it will help their future. 

In addition to this, you need to know more about it.  It is a new technology out of the old technology.  The old technology only takes care of the few people working in the government sectors.  When the government officials retires, they get their fund from the pension but this is not application to the private sector.  They have nowhere to go for funds, because their was not project like this.  But with this new technology focusing on the private sector, they will be able to have support for their oldage after they retire from the little local business.  This project will use an newly developed apps that will help them to pay their pension with ease. These apps can be used anywhere in the country.

In addition to this, you need to know more about it.

Theory of Change  ( ToC ) is a specific type of  methodology  for  planning ,  participation , and  evaluation  that is used in companies,  philanthropy ,  not-for-profit  and  government  sectors to promote  social change . Theory of Change defines long-term goals and then maps backward to identify necessary preconditions. By this definition in this context, we are trying to get a project that will change the entire livelihood of the private sectors in Nigeria to have a future and a good life.  The method for this change is the formation of the private pension fund organizations, to collect and save for the private sector.  The participation will be from the private sector in Nigeria.  We have over 80 million people engaged in private activities.  The government will partner with the funding organization to safeguard the fund from embezzlement and defrauding the private people.  With this project, there will be a great social change in the lives of the people because during the retirement age in business or private life, they will have a source of income.  They will be able to take care of their family needs, medical expenses, pay school fees for their children and afford good accommodation and feeding.

In addition to this, you need to know more about it.  The project can be incorporated into the delivery system of the West Africa countries, because non of the West Africa countries have started this project of taking care of their private sector through private sector pension scheme.  This project should be proposed to the ECOWAS government for adoption, so that lives will be good and better for the citizenry of the ECOWAS people.  I do know that majority of the citizen of the West Africa who are private individuals do not have a pension cover and they end of suffering at old age or retirement.  I will really appeal to this organizers of this project to bring this project to the leaders of the ECOWAS countries.  This project will help to improve the livelihood of the people

In addition to this, you need to know more about it.  This project is user friendly because it is working on the future of all individuals who are in the private sector and secondly, the process of payment will made very simple.  It will be through the apps that will be developed.  When they are at the right age of retirement, the project will be made ease to collect their pension back with good interest.  The project will be at triple payment system.  Payment will be worked out in a way that it will attract the private sector to invest into it.  This project should be made compulsory for some categories of private sector by the government

In addition to this, you need to know more about it.  This project will be integrated into the existing pension scheme.  Since there are existing pension scheme in place by the government, they will have to integrate the private sector into it.  It will be very easy to integrate.

In addition to this, you need to know more about it. This project is majorly targeted for the low income people especially the small scale business owners.  The project will be communicated in English, Yoruba, Hausa and Ibo.  So they will be able to understand the project because it will come in their local languages.

In addition to this, you need to know more about it.  This project is target at 80 million people in Nigeria

In addition to this, you need to know more about it.Our goal is to see that over 50 million Nigerians enrol in this private pension scheme

In addition to this, you need to know more about it. The obstacle is to get the full government approval and support for the project.  Also to get the parliament pass a law on the project. 

In addition to this, you need to know more about it. We are applying to the government for its approval now.  The National Assembly will be motivated to approved the project

We are 10 members in our and we have 20 volunteers

We have the qualified members in our team to carry out the project and to deliver this solution.   Our board members and staffs are professional in providing solution and making a start up

Global Impact for Africa Development

Women of God's Ambassadors Ministerial Network Worldwide Sierra Leone

We are a non profit organization who think of the people first before themselves. We are into social transformation and regeneration.  We work with the less privilege, the under-served and the poor in the society and we know the pains they are going through, so we are in a good position to proffer solution to their problem.  Many old people come to our office who work for the private organizations come to our office seeking for help, complaining of how the government has failed them.  This motivated to go ahead with finding a solution to this great problem in Nigeria and most West Africa countries

The project can be sustained to grant support and donation from well meaning individuals

We have not raised any funds from anybody or organization yet

Yes we believe to raise fund through grants.  We are looking for such an organization that will be interested to support us with grant, so that we can be able to promote this solution in Nigeria and other West Africa countries

Training of office workers               -   $2,000

Staff Salaries                                    -  $12,000

Purchase of Office computers   

and office equipment                        -  $6,000

Payment for office accommodation   -  $5,000

Project expenses                              -  $20,000

Electrical/communication expenses  -  $4,000

Maintenance /fueling of office 

vehicle                                             - $4,000

Miscellaneous expenses                     - $5,000

Total                                                -$58,000

With the partnership with the Mission Billion Challenge, we can be able to achieve this project.  This project is a multi billion dollars project.  If they come in partnership with us, the government of Nigeria and West Africa will be able to approve the project for all West Africa countries.  I will be able to bring out the full concept of the project if it is approved.  Having a savings from over 80 million people from Nigeria alone every month is a huge sum of money and if you now add other ECOWAS countries that is billion of dollars.  I pray that the project should be selected

Our partnership goal is you to invest in the business  and it will be on profit sharing.  I do know that other partners will come in into the project, when they see the viability.  You will be the regulating and selecting body for the other partners that would want to come into the business.  We are go to co-jointly owe the business in West Africa and co-partners

Ministry of Finance  - Nigeria and other West Africa countries in focus

Banks

Insurance companies

Pension Administrators