The
Federal Government has paid N1.6 billion to 638 awardees of the Youth
Enterprise with Innovation in Nigeria (YouWin) programme, a statement
from the Ministry of Finance has said.
The statement by Mr Na’inna Dambatta,
the Director of Information in the ministry, which was issued on Tuesday
in Abuja, said the amount was paid in June.
It recalled that under the programme
which took off in 2011, a total of 18, 000 young entrepreneurs were
trained in management and business skills for Small and Medium
Enterprises (SMEs).
It said that 3, 900 of the trainees,
including 1, 200 women, were each given non-repayable take-off grants
ranging from N1 million to a maximum of N10 million for businesses of
their choice.
“The third edition of the programme,
which is still running with 1,500 beneficiaries has received the sum of
N11.2 billion in funding.
“So far, grants totaling N7.4 billion have been disbursed to the awardees, ’’ the statement said.
“So far, grants totaling N7.4 billion have been disbursed to the awardees, ’’ the statement said.
It also quoted the Minister of Finance,
Mrs Kemi Adeosun as saying that the present administration was set to
restructure the programme in line with its “change” agenda.
Adeosun said that the restructuring
would ensure efficiency, transparency and accountability in investing
the capital grants given to the beneficiaries.
She assured that all the commitments made by the Federal Government under the YouWIN programme would be fully met.
She assured that all the commitments made by the Federal Government under the YouWIN programme would be fully met.
She said that every beneficiary would be duly verified, using tools like Bank Verification Number (BVN), before disbursements.
The minister added that the Federal Government would begin consultations with the beneficiaries and other stakeholders of the programme to inject new ideas for its sustainability.
The minister added that the Federal Government would begin consultations with the beneficiaries and other stakeholders of the programme to inject new ideas for its sustainability.
According to the statement, the ministry
of finance, which has been running the programme from inception, will
hold the consultation on July 22 in Abuja.
“Representatives of the beneficiaries
drawn from the six-geo-political zones and other stakeholders will chart
a way forward for the programme,’’ she added.
Credit: NAN
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