Stella Dimoko Korkus.com: FG launches N10bn youth entrepreneural support project

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Friday, March 18, 2016

FG launches N10bn youth entrepreneural support project

The Bank of Industry (BoI) on Thursday formally launched a N10 billion Youths Entrepreneurship Support (YES) project to empower youths with loans to start businesses.




Speaking at the launch of the project in Abuja, the Minister for Industry, Trade and Investment, Dr Okechukwu Enelamah, said that his ministry would partner all agencies of government to create new jobs.

He said that more than 40 per cent of Nigerian graduates had no jobs and that an average of eight million Nigerians entered the job market annually.
The minister said that the ‘YES’ project of BoI was part of the Federal Government’s youths employment scheme, stressing that about 36,000 jobs would be created annually through ‘YES’.

He appealed to prospective beneficiaries to re
pay the loans for the success and sustenance of the project.
Mr Waheed Olagunju, the acting Managing Director of BoI, said that a participant under the scheme could access up to N10 million loan with single digit interest rate and repayable over three to five years.
He said that an applicant must present NYSC or higher education certificate as collateral to qualify for the loan with two external guarantors.


Olagunju said that the bank was partnering 11 consultants across the country for the first phase of the project.
Mr Afolabi Imokhuede, a Special Assistant to the Vice President, said that job creation was at the heart of the current administration.
He said that government intended to create 3.5 million jobs in the next three years, adding that the ‘YES’ project was one of the programmes.
Imokhuede advised participants to take the ‘YES’ seriously as online courses were now popular means of job creation world wide.


Malam Nasir El-Rufai, the Governor ok Kaduna State, said that the state was partnering with BoI on job creation.
He said that the state had been able to take controlling shares in Peugeot Automobile Nigeria with the assistance of BoI.


pmnews report



22 comments:

  1. Nice one. How do we access this facility?

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  2. That igbo minister go pack the money give igbo people.

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  3. I hope it wont be as usual where big men corner the loan for personal interests

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  4. For those interested, I am not o jere.

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  5. Hmmmmmm. Good initiative. I hope this won't be another jail term in the making for our corrupt leaders, and I pray whoever gets the loan is pays back, cos the level of corruption in 9ur country is appalling. Anyway, it's the guarantors I pity.

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  6. And again,youths will not even see 50kobo of d 10billion,it will be shared amongst d barawos. Ndi ohi ndi ohi,hell fire await u all.

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  7. And again,youths will not even see 50kobo of d 10billion,it will be shared amongst d barawos. Ndi ohi ndi ohi,hell fire await u all.

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  8. That's good. Nigeria is going to be great.God bless Nigeria

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  9. Pls o, aw do we access the loan. Anyone with details pls

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  10. Sounds like a good news. Why not make it grant instead of loan.
    Well, hope the conditions involved in getting a loan isn't life threatening?!

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  11. Great news, I just hope the funds don't end up in the hands of people who are not supposed to access them.

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    ReplyDelete
  12. Nice one. I'll be a beneficiary by His grace.

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  13. Good news!
    I hope the average Nigerian will benefit from this?

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  14. We are watching and waiting patiently for him.

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  15. Good news 

    I'm impressed 

    Way to go Nigeria Youth 

    God make me a beneficiary of this YES scheme in this administration unlike the past.  

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  16. Giving grants would have been a better way to empower the youths. Wonder why they didn't continue with YouWin. Nyways, it's better than nothing.


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    ReplyDelete
  17. How do we access this grant, pls. Stellz, pls help us find out.

    ReplyDelete

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