The Federal Government of Nigeria has explained the modality for the disbursement of the Federal Government’s N75 billion Entrepreneurship Youth Support Fund.
Mrs. Zainab Ahmed, the Minister of Finance, Budget and National Planning spoke at the weekend in Kaduna at a meeting with 77 district heads and religious leaders. The engagement was in continuation of President Muhammadu Buhari’s directive to all his cabinet members to return home and interface with their constituents on the efforts of the present administration towards national development.
Speaking at the event held at Kaduna State University (KASU), Ahmed explained how youths can access the fund.
She said the amount accessible to each beneficiary would be dependent on their business idea, proposal and their repayment plan, with amount ranging from N250,000 to N5 million.
She explained that the interest-free loan is expected to be paid back to the government within five years.
The Minister, who said the meeting was meant to get inputs into the best ways to empower youths in reaction to the #EndSARS protest, which metamorphosed into looting, appealed to religious and traditional leaders to educate parents on the need to instill family values on their children.
“We are calling the attention of parents that we have failed our children in the sense that the kind of value we used to have is no more. We need to remind ourselves that our children need to be upright and that this criminality going on daily is not for their benefits and the benefit of the state and country,” Ahmed said.
Also, Minister of Environment, Dr. Mohammed Abubakar, urged the stakeholders to support the government in protecting lives and property and job creation.
He advised the youth to be self-reliant by focusing on skills acquisition and not to be overdependent on government.
He also urged the leaders to be advocates of peace in all their dealings for meaningful development.